QWTROTCAir-Cond & Warm Air Heatg Equip & Comm & Indl Refrig EquipUS GAAP · USD

Quest Water Global, Inc.

Quest Water Global, Inc. is a U.S.-based water technology company organized around decentralized systems for producing, purifying, and distributing clean drinking water. Its core offerings include the AQUAtap community water purification and distribution system and the WEPS atmospheric water extraction and purification system, supported by operating subsidiaries in the United States and Canada.

Net income-0.8m USD
−27.1 %y/y
Free cash flow-0.6m USD
+2.4 %y/y

Fiscal year 2024 · change from previous year

Development 2019–2024

0.000.050.100.15m USD201920202021: 0.15 m USD2021202220232024
RevenueOperating profit (EBIT)

Business

Share of revenue
Community water systems50 %

Autonomous, decentralized purification and distribution systems for communities.

Atmospheric water extraction30 %

Systems that extract humidity from air and purify it into drinking water.

Engineering and manufacturing15 %

Design and production of water technology equipment and related components.

Partnership and deployment services5 %

Support for safe-water initiatives, installations, and local operating partnerships.

Customers

The company serves communities and institutions in water-scarce regions that need decentralized clean-water solutions. Its reported focus includes underserved areas in North America, Latin America, the Caribbean, and Africa, with projects intended to work through public-private partnerships, NGOs, governments, and local operators.

Underserved communities

Buy or receive AQUAtap and related systems to obtain local drinking water supply.

Public-sector and municipal partners

Work with the company on PPP-style deployments and community water access projects.

NGOs and development organizations

Support funding, deployment, and program execution for safe-water initiatives.

Commercial and institutional end users

Purchase water technology products directly through sales channels and distributors.

Global distributors and agents

Resell or help deploy the company's water systems in local markets.

Strategy

The company is building a partnership-led model to deploy decentralized water systems through country-level collaborations and public-private partnerships. It also relies on Quest Water Solutions in Canada to design, engineer, and manufacture products that can be sold directly or through distributors and agents.

Expand partnership-based deployment modelMedium term

Local partnerships reduce execution barriers and help access public and donor funding.

Commercialize AQUAtap and WEPS systemsShort term

Product adoption is central to converting the technology platform into recurring sales.

Use decentralized, solar-powered infrastructureLong term

Off-grid systems fit water-scarce regions with limited utility infrastructure.

Geography

Quest Water Global operates across North America, Latin America, the Caribbean, and Africa, with reported emphasis on the Democratic Republic of the Congo, Angola, and South Africa. Manufacturing and technology development are centered in Canada through Quest Water Solutions Inc., while the parent and other subsidiaries are based in the United States.

Risks

The business depends on successful commercialization of specialized water systems and on the formation of local partnerships in emerging markets, which can be slow and execution-intensive. It also faces typical risks for early-stage industrial technology companies, including funding dependence, customer adoption uncertainty, cross-border operating complexity, and technical performance risk for deployed systems.

Sorted by severity
Uncertain revenue generationHigh

The company has not yet established a stable commercial revenue base from its water systems.

Exposure: Core business model

Financing dependenceHigh

Operations and expansion require external debt, equity, or related-party funding.

Exposure: Liquidity and growth execution

Emerging-market execution riskMedium

Projects depend on local partners, governments, NGOs, and site-specific deployment conditions.

ExposureAfricaLatin AmericaCaribbean
Technology adoption and performance riskMedium

Customers must accept decentralized purification and atmospheric water systems as reliable solutions.

Exposure: AQUAtap and WEPS

Accounting

Judgemental items
Foreign currency translation

Canadian subsidiary transactions are translated into U.S. dollars, affecting reported income and equity.

Impact: Exchange gains and losses are recognized in income

Consolidation and intercompany eliminations

Multiple subsidiaries operate under the group structure, requiring elimination of internal balances and transactions.

Impact: Affects reported revenue, expenses, and balance sheet totals

Revenue recognition for project-based water systems

Future sales may involve installation, delivery, and service components that can change timing of revenue.

Impact: Could affect quarterly comparability once commercialization begins

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026