OriginClear's investment in WTII also helps close a strategic acquisition
Los Angeles, CA /PRNewswire/ - OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, recently entered into a licensing agreement with Water Technologies International, Inc. (OTC: WTII), of Port St. Lucie, FL, which commercializes the innovative SIMPOD portable waste water treatment plant, and has developed a line of atmospheric water generators.
Jean-Louis "JL" Kindler, President of OriginClear's Technology Division said, "This agreement will give OriginClear a strategic presence in the Southeast. We also plan to connect Water Technology with our academic partner, Florida Atlantic University (FAU), for scientific testing and further innovation."
The licensing agreement gives Water Technologies access to OriginClear's patented electrochemical treatment process, Electro Water Separation with Advanced Oxidation™ (EWS:AOx™), and support to enter the oil and gas and other markets. Water Technologies also acquired an EWS demonstration and research unit.
OriginClear also purchased approximately 9% of Water Technologies common stock, and lent additional funds, helping Water Technologies finalize its acquisition of West Palm Beach-based WaterZone, which has specialized, for over 30 years, in complete system design, installations and maintenance for commercial, industrial and residential customers through Florida.
The Technical Assistance Program fee, another part of OriginClear's licensing agreement, was paid to OCLN in WTII preferred shares. The license also calls for standard royalty payments to OriginClear.
"We intend to integrate OriginClear's technology for clarifying very dirty, very oily water for oil and gas produced water and landfill runoff water," said William Scott Tudor, CEO of Water Technologies International, Inc. "We were also very grateful for OriginClear's timely support in completing our strategic acquisition of WaterZone."
About OriginClear, Inc.
OriginClear is a leading provider of water treatment solutions and the developer of a breakthrough water cleanup technology serving the rapidly growing $500 billion world market. Through its wholly owned subsidiaries, OriginClear provides systems and services to treat water in a wide range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil & gas. To rapidly grow this segment of the business, we strategically acquire profitable and well-managed water treatment companies, which allow us to expand our global market presence and technical expertise. To enable a new era of clean and socially responsible water treatment solutions, we invented Electro Water Separation™, a breakthrough high-speed water cleanup technology using multi-stage electrolysis, that we license worldwide to water treatment equipment manufacturers. Water is our most valuable resource, and the mission of the "Family of OriginClear Companies" is to improve the quality of water and help return it to its original and clear condition. To learn more about OriginClear®, please visit our website at www.originclear.com.
OriginClear has not committed to hold its shares of Water Technologies common stock for any period of time other than as required by applicable securities laws.
OriginClear Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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