Manufacturer acquires minority interest and plans to participate in
manufacturing joint venture
Company Website:
http://www.originclear.com
LOS ANGELES -- (Business Wire)
OriginClear
Inc. (OTC/QB: OOIL),
a leading provider of water treatment solutions, today announced that a
Chinese precision manufacturer has initiated a planned investment of up
to $1.5 million for a minority interest in OriginClear Hong Kong (OCHK),
OriginClear’s wholly-owned master licensee for China. The first payment
of $100,000 was made in accordance with a binding investment schedule.
The parties also agreed to launch a China-based joint venture (JV) under
which the manufacturer will provide funding, and manufacturing
infrastructure, while OCHK will provide technology, concept engineering,
and worldwide sales opportunities.
The JV is intended to become the worldwide sole-source manufacturer of
packaged Electro Water Separation™ (EWS)
systems, sub-systems and accessories, while current and future
OriginClear licensees will retain the right to integrate EWS into their
own branded systems.
“We plan to work with our new partner to standardize manufacturing for
volume distribution of EWS systems into a market hungry for new water
solutions,” said Jean-Louis
“JL” Kindler, OriginClear chief operating officer, and managing
director of the Hong Kong subsidiary. “We are already receiving
inquiries for large-scale units to be built in Asian markets before the
end of this year and we are confident that our partnership can deliver
well-engineered systems on this very short timeline.”
In 2014, the Chinese government announced
that it plans to spend 2 trillion yuan, or $330 billion, on an action
plan to tackle pollution of its scarce water resources. China has a
fifth of the world's population but just 7 percent of its water.
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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:
Chinese Manufacturer To Invest $1.5M in OriginClear’s Hong Kong
Subsidiary;Manufacturer acquires minority interest and plans to
participate in manufacturing joint venture
Key Words:
OriginClear, OriginClear inc, ooil, China, Hong Kong, Environmental
Engineering, Electro Water Separation, EWS, Jean-Louis “JL” Kindler,
Kindler, flow back produced water, frack, clean-frac, oil & gas, oil
industry, fracking, oil drilling, waste water, algae appliance, Riggs
Eckelberry, 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, Water Cleanup, Water Service
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902005509/en/
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
Source: OriginClear Inc.
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