LOS ANGELES--(BUSINESS WIRE)--
OriginOil, Inc. (OTCQB: OOIL), developer of Electro Water Separation™ (EWS), the high-speed, chemical-free process to clean up large quantities of water, announced today the launch of its Throughput Program for EWS Petro™. By “paying by the gallon,” oil service companies, disposal well operators and other end-users will be able to treat large quantities of contaminated frac flowback and produced water with significant savings while avoiding high upfront capital costs.
“As an industry, we need to move toward treatment and recycling of water versus disposal,” said Michael Morford, President of Nemaha Water, a disposal well operator in Oklahoma and Texas. “OriginOil’s Throughput Program offers the opportunity to treat frac flowback water, while realizing significant cost and environmental benefits on site without the burden of capital outlay.”
“While we are launching this directly ourselves with ‘boots on the ground’ from local support organizations, we will welcome any service company or reseller help its clients achieve immediate cost savings without having to capitalize each project with a seven-figure investment,” said Bill Charneski COO of OriginOil. “If you qualify, we will help you implement this package quickly.”
OriginOil’s EWS Petro process effectively reclaims water for beneficial reuse, and recovers additional oil, minimizing both the cost of new water for fracking and the heavy costs associated with trucking and disposal of used water. Companies interested in a full revenue and cost savings model should contact firstname.lastname@example.org immediately.
Andy Komor, VP of Environmental Water for PACE, which earlier engineered a commercial scale project in Australia for OriginOil, stated, “We consider EWS Petro to be the best technology for the removal of oil, suspended solids and bacteria from frac flowback water. This throughput program has the potential to open access to OriginOil’s superior technology to a far broader range of operators.”
Structured financing has been arranged by VenPro Partners. Top water treatment engineering firms MWH Global or Pacific Advanced Civil Engineering (PACE) will complete the detail engineering. Clean Water Technology, CWT OriginOil’s strategic manufacturing partner, will construct the system.
Wade Morse, COO of Clean Water Technology, stated, “This is exciting, we think OriginOil’s commercial entry into the oil & gas market could open significant new revenue opportunities for both CWT and OriginOil.”
With the help of end-users, OriginOil intends to select local service and support companies to install the equipment, and train operations personnel. Each selected support organization will become OriginOil’s ‘boots on the ground’ for the program in that region, acting both as sales agent and maintenance support.
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About OriginOil, Inc.
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation™ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water, to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. And in aquaculture, OriginOil is helping improve yields and making seafood healthier by dramatically reducing the levels of toxic ammonia and bacteria in water. For a world short on clean water, OriginOil is the lower-cost and cleaner answer. To learn more about OriginOil®, please visit our website at www.originoil.com.
OriginOil 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.
OriginOil offers zero-capital commercial oil and gas water treatment system; “Pay By The Gallon” program requires no capital outlay and pays only on performance, ensuring the speedy commercialization of EWS Petro
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- Natural Resources