“We believe that there is value in building a single group of water service companies, each with a specific and complementary focus. PWT is a great first acquisition in this process. We plan at least four more in the next two years.”
This marks the first transaction in OriginClear’s corporate strategy to rapidly acquire leading U.S. water service companies focused on specialized water treatment. OriginClear aims to offer a complementary, end-to-end offering to serve growing corporate demand for outsourced water treatment.
“Today’s announcement marks an exciting time for our company. By joining the OriginClear Group of Companies™, we believe we have a major opportunity to grow our existing water services business and penetrate new markets,” said Marc Stevens, PWT’s President. “OriginClear’s business aligns perfectly with Progressive Water Treatment’s, and we look forward to continued expansion together.”
Progressive Water Treatment expects to report 2015 revenues of more than $6 million, and to contribute its forecasted 4thquarter revenues of more than $1 million to OriginClear’s 2015 full year income statement.
Based on the current backlog of orders, PWT believes it will achieve revenues of more than $7 million in 2016.
PWT is profitable. With this first acquisition, the OriginClear Group of Companies™ begins as a profitable division, contributing significantly to OriginClear’s overall operating performance.
“Industrial users are increasingly outsourcing their water treatment, but it is a very fragmented business,” said Riggs Eckelberry, CEO of OriginClear. “We believe that there is value in building a single group of water service companies, each with a specific and complementary focus. PWT is a great first acquisition in this process. We plan at least four more in the next two years.”
According to the Bank of America Merrill Lynch global research report, “A Blue Revolution – Global Water,” the world water services industry is expected to double to $1 trillion by 2020. With this transaction complete, OriginClear plans to seek out other companies that focus on complete service solutions, rather than just the sale of proprietary products. OriginClear is targeting companies with strong management teams and profitable operations to build an international group of water treatment solution providers under the OriginClear brand.
Progressive Water Treatment Inc. describes its mission as designing and manufacturing a complete line of water treatment systems for municipal, industrial and pure water applications. The company utilizes a wide range of technologies, including chemical injection, media filters, membrane, ion exchange and SCADA technology, in turnkey systems. The company also offers a broad range of services including maintenance contracts, retrofits and replacement assistance. In addition, PWT rents equipment in contracts of varying duration. Customers are primarily served in the United States and Canada, with the company’s reach extending worldwide from Japan to Argentina to the Middle East.
Tweet this: @OriginClear completes Progressive Water Treatment #acquisition and launches profitable #water services group http://www.originclear.com/?p=16917
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 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.
Abstract:
Tweet this: @OriginClear completes Progressive Water Treatment #acquisition and launches profitable #water services group
Key Words:
OriginClear, OriginClear Inc, Progressive Water Treatment, OOIL, Acquisition, corporate strategy, Water Treatment, Marc Stevens, Riggs Eckelberry, Electro Water Separation, EWS, Invest OOIL, Investor, chemical injection, media filters, membrane, ion exchange, SCADA technology, Turn Key Water Treatment System, flow back produced water, frack, oil & gas, oil industry, fracking, oil drilling, waste water, algae appliance, invest algae, Frack and Produced Water Cleanup System, new oil, algae oil, renewable oil, algae biofuel, chemical free process algae, algae commercialization, algae harvesting, renewable crude oil, algae extraction, Oil Services
Contacts
Press Contact:
Antenna Group
Sarah Mier
415-977-1947
OriginClear@antennagroup.com
or
Investor Relations OriginClear:
Tom Becker
Toll-free: 877-999-OOIL (6645), Ext. 3
International: +1-323-939-6645, Ext. 3
Fax: 323-315-2301
ir@OriginClear.com
www.OriginClear.com
Antenna Group
Sarah Mier
415-977-1947
OriginClear@antennagroup.com
or
Investor Relations OriginClear:
Tom Becker
Toll-free: 877-999-OOIL (6645), Ext. 3
International: +1-323-939-6645, Ext. 3
Fax: 323-315-2301
ir@OriginClear.com
www.OriginClear.com
ABOUT THE COMPANY
http://www.originoil.com
A summary of Originoil's technology and business plan -
http://www.originoil.com/pdf/OriginOil_Company_Presentation.pdf
A summary of Originoil's technology and business plan -
http://www.originoil.com/pdf/OriginOil_Company_Presentation.pdf
Pure Technology
OriginOil is a pure technology company. We plan to embed our breakthrough technology into the industrial algae systems that others build, distribute and operate.
Algae is the logical successor to petroleum and has added potential in nutrition and pharmaceuticals. Algae will be produced everywhere CO2 is generated - making it a truly distributed source of energy.
The world will make algae. How will we deliver our technology to the world? The answer is to integrate our technology with the systems others build and distribute.
"It took a few months as we started stretching our legs for it to become clear to us that it was a pure technology game. And the big lesson that we learned in high tech was, do not compete with your natural customer or partner. Don't create conflicts."
- Riggs Eckelberry, President and CEO
- Riggs Eckelberry, President and CEO
"Powered By OriginOil"
Large manufacturers, distributors and engineering service companies will gear up to serve the world's algae producers and refiners. Many already serve today's petroleum industry.
We'll make our breakthrough technology available everywhere these companies operate by embedding our technology in the systems they sell. We won't have to spend the time and money to develop our own manufacturing and distribution infrastructure. And we'll avoid competing with our natural partners, creating a much better chance that our technology will become widely used - and profitably licensed.
Naturally, before you can embed a technology, you have to prove it. That's why OriginOil is working with strategic partners who will help scale up its technology and prove it in the field.
"We're working with other best-of-breed companies to scale up algae rapidly so it can ultimately compete with petroleum."
- Riggs Eckelberry, President and CEO
Single-Step Extraction
Processing Algae is Energy-Intensive and Costly
Harvesting algae is a challenge. Algae grow suspended in large volumes of water. Once ready for harvest, the algae culture must be concentrated and the oil extracted from each cell. Then, the oil, water and biomass must be separated for processing. The new OriginOil Single-Step Extraction™ process achieves all these steps in one process.To achieve extraction, Quantum Fracturing™, a patent-pending technology based on the science of fluid fracturing, combines with pulsed electromagnetic fields and pH modification to break down cell walls, releasing the oil within the cells. Much of the algae oil rises to the top for skimming and refining, while the remaining biomass settles to the bottom for further processing as fuel and other valuable products.
Single-Step Extraction: Simpler and More Efficient
Initial testing indicates that the new algae oil extraction process is simpler and more efficient than current systems, without requiring chemicals or significant capital expenditure for heavy machinery. With Single-Step Extraction, the amount of energy used to crack the algae can be significantly less than other extraction technologies and results in the separation oil, water and biomass.In addition to integrating this process into demonstration facilities, such as MBD Energy's site in North Queensland, Australia, OriginOil plans to rapidly commercialize the patent-pending process for use by commercial partners in the fast-growing algae industry.
The Single-Step Extraction Process
The Single-Step Extraction System can be deployed in two ways: dewatering only for conversion of the entire algae mass to a refinable bio-oil, or full separation of lipids and biomass to create more valuable products along with fuels. The following diagram represents full separation.
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