LOS ANGELES & MEMPHIS, Tenn.--(BUSINESS WIRE)--OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation™ (EWS), the high-speed, chemical-free process to clean up large quantities of water, announced today that E3 Services and Solutions, LLC (E3), an acquirer and integrator of industrial technologies in fuel, food and health sectors, has agreed to license EWS for integration in systems designed to reclaim water from hydraulic fracturing and industrial operations.
Memphis, Tennessee based E3 intends to develop and further commercialize key OriginOil technologies for oil and gas water reclamation, aquaculture and feed stock production. E3 also plans to partner with OriginOil on research and development projects to further refine the company’s suite of technologies in the field.
“E3 is unique in that we are bringing together a number of technologies focused on the water matrix. Essential to this strategy is finding best-in-breed technologies, acquiring them and deploying services around those same technologies on a global basis,” said Mark A. Skoda, CEO of E3. “Our initial markets include oil and gas drilling, mining, agriculture and aquaculture. We believe our business development process combined with our strong domain expertise allows E3 to rapidly launch these services together with our partners, such as OriginOil, quickly with world class technology. With our deep relationships in the oil services sector and our current business development efforts with a Fortune 50 oil producer, we believe we are well positioned to rapidly get these technologies into the market.”
“E3 is a dynamic technology integrator and with a shared vision to advance innovative solutions commercially,” said Riggs Eckelberry, OriginOil CEO. “We plan to partner with their team in every step of the process to roll out products and services in the frack and industrial water reclamation spaces, as well as in our clean tech business. We welcome them to the growing OriginOil team!”
OriginOil’s breakthrough water cleanup technology, Electro Water Separation (EWS) extracts organic contaminants from large quantities of water for the oil and gas, industrial and agricultural sectors. The technology can be paired with downstream “polishing” technologies to deliver water at a range of purity levels specified by customers.
Skoda added, “it’s also important to note that our extensive relationships in fish farming here in the South should allow us to produce and sell the output of algae feedstock production.”
E3 recently announced its new Evolution Lubricants & Technologies division serving industrial, automotive, drilling and consumer clients, and reported having acquired more than 300 different lubricant technology formulations to serve these markets.
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About E3 Services and Solutions LLC
E3 Services and Solutions Inc. (www.e3space.com) is designed to source innovation and spur innovation through rapid industrialization and policy adoption of FFH technologies while mitigating disruptive process changes to business and the eco-system. All E3 operations and services are .ECT (Environmentally Conscious Technologies) certified.
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.
Abstract: E3 Services and Solutions licenses OriginOil technology for frack and industrial water reclamation; OriginOil’s Electro Water Separation Technology selected by E3 for water reclamation projects
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