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OriginClear’s Progressive Water Recovers Millions of Gallons for Texas City’s Drinking Water
Previously-rejected water can now be a freshwater source for up to a third of Horizon City’s residents
Los Angeles and Dallas – October 21, 2015 – OriginClear Inc. (OTC/QB: OOIL), a leading provider of water treatment solutions, today announced that a system built by its wholly-owned subsidiary, Dallas-based Progressive Water Treatment Inc. (PWT), is recovering 700 gallons per minute (gpm) of previously-rejected water at the existing RO treatment plant in Horizon City, Texas. The recovered water is being blended with raw well water for consumption as city drinking water.
"Horizon City is now able to use this water as a source for drinking water," said Marc Stevens, PWT’s President. "That’s over a million gallons per day that the city doesn’t have to treat, which could serve up to a third of its population’s needs."
PWT fabricated and installed dual 350 gpm reverse osmosis (RO) systems to recover reject water from existing, primary RO systems. According to Stevens, the new systems have operated at more than 99% efficiency since their commissioning.
"This is certainly not our largest project to date, but from a technical point of view, it’s one of the most satisfying," added Stevens. "It challenged our engineering staff who were able to reclaim 700 gpm of water for direct reuse by the city as drinking water."
Dallas-based PWT is the first company in the newly-formed OriginClear Group™ of water service companies and is a profitable and fast-growing designer, builder and service provider for a wide range of industrial water treatment applications.
"We are very happy with our recent acquisition of PWT, which is enjoying a steady stream of successful installations in the region," said Bill Charneski, President of The OriginClear Group. "The company appears well positioned for an outstanding year in 2016."
"As corporations increasingly outsource their water treatment, companies like PWT are stepping in to serve them," said Riggs Eckelberry, OriginClear’s Chief Executive Officer. "We intend to help unify these outsourced water services companies for the benefit of outsourcing customers across North America and eventually, the world."
Global Water Intelligence recently stated, "With regulations relating to wastewater treatment and discharge growing ever-more stringent and the cost of sourcing water continually rising, operators of industrial plants are seeking full water management services to provide cost-effective solutions that maximize water and energy efficiency, allowing them to focus on their core production businesses."
OriginClear believes that companies in its OriginClear Group will benefit from this long-term outsourcing trend.
OriginClear Acquires Progressive Water Treatment
On October 1, 2015, OriginClear Inc., a leading provider of water treatment solutions, announced it had acquired 100 percent of Dallas-based Progressive Water Treatment Inc. (PWT), a profitable and fast-growing designer, builder and service provider for a wide range of industrial water treatment applications.
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 4th quarter 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. To learn more about OriginClear®, visit their website at www.originclear.com.