Atlantic Power and Infrastructure’s (OTCMKTS:AWSL) wholly owned subsidiary, KB Industries has provided an update regarding its 2020 Tampa Bay FL installation. The City of Tampa Storm Water Department had contracted KB Industries for the installation of its proprietary Flexi-Drain technology in the south Howard area in February 2020.
On Wednesday, AWSL stock ended flat at $0.0560 with 13k shares, compared to its average volume of 28K shares. The stock moved within a range of $0.0560 – 0.0560 after opening trading at $0.0560.
February 2020 Flexi(R)-Drain System Installation in Tampa Bay FL Continues to Reap Ongoing Praise for Handling Storm Water
The area, known as “The Eleta Street Entertainment District”, experiences tropical heavy rains during the rainy season. These storms have been known to seriously and negatively affect local businesses. This area, also renowned for its thriving entertainment scene and housing popular restaurants, bars, and shops, used to get frequently flooded due to the lack of drainage capabilities at the curb side of the street.
The Storm Water department was considering installing an expensive disruptive construction project to set up a new stormwater sewer system to connect into the main storm water sewer on Howard Street (before the KBI’s Flexi-Drain technology). This undertaking would involve deep excavation and major shutdowns of the road. Such a scenario would greatly affect daily trade of the Entertainment District for several months.
K. B. Industries, Inc. has offered an environment-friendly solution by introducing one of its proven and proprietary Scrap Tire Construction Products; KBI Flexi-Drain. The company inspected the project again in May 2022, and it was seen that heavy water continues to pour freely through KBI’s Flexi-Drain, opening further doors for more installations in the region.
AWSL stock is trading below the 20-Day and 50-Day Moving averages of $0.0619 and 0.0639 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0762.