CLEARWATER, Fla.--(BUSINESS WIRE)--OriginClear Inc. (OTC Pink: OCLN), The Water Company for the New Economy™, today announced that it has created a wholly-owned subsidiary called Water On Demand #1, Inc., to offer private businesses the ability to pay for their water treatment and purification services on a pay-per-gallon basis.
As the federal government’s contribution to city water treatment systems continues to drop from 63% in the seventies to just nine percent today (Source: US Water Alliance), businesses are increasingly having to do their own water treatment and purification.
The scale of these systems is relatively small: the 74 quotes that Modular Water Systems™ has at various stages of negotiation for 2021 average only $232,246 each. But capital is scarce for such private systems, and therefore a fully outsourced solution is attractive to these businesses.
“We’ve done the internal analysis,” said Riggs Eckelberry, OriginClear CEO. “Half of our prospective clients for Modular Water Systems would approve our quotes if they could pay for their water as a monthly bill and not a capital expense.”
Well-known in the water industry, this business model is called Design-Build-Own-Operate or DBOO. Customers for DBOO enjoy completely outsourced water treatment and purification services and pay “on the meter”.
The Company believes water is a risk that smart managers will outsource, especially with worsening inflation. Outsourcing through what we call Water on Demand means that these companies do not have to worry about the problem, either financing it or managing it.
In Information Technology, few companies operate a server in-house powering their website. It is managed by professionals through a service level agreement. Water Purchase Agreements (WPAs) are an equivalent, very similar to the solar energy programs known as Power Purchase Agreements (PPAs).
Under such a plan, a business can now outsource its wastewater treatment by simply signing on the dotted line; instantly avoiding most capital expense, and the trouble of managing something that is a distraction from their core business.
This is financially and operationally attractive to industrial, agricultural, and commercial water users, while OriginClear’s Water On Demand program can potentially drive speeded-up deals and many more revenue streams from providing water treatment as a service.
About OriginClear, Inc. OTC Pink: OCLN
Water is our planet’s most valuable resource, and the mission of OriginClear is to provide breakthrough products that effectively improve the quality of our planet’s waters by delivering the highest quality water to end-users. In just one decade, the global water services market has doubled into a trillion-dollar industry. And yet, 80% of all sewage in the world is never treated, and up to 35% of all drinking water is lost in transit. This calls for self-help solutions at the point of use, a movement known as decentralized water treatment. Our mission is to enable this decentralized water revolution by providing funding, rapid deployment, and breakthrough technologies that help make clean water available for all.
OriginClear Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements. When used in this release, 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 except as may be required under applicable laws.