OriginOil Launches Hong Kong Subsidiary to Initiate Its China Commercial Venture
December 22 2014 - 3:01AM
Business Wire
OriginOil Hong Kong is expected to license regional joint
ventures for frack and waste water cleanup
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 it will launch a
subsidiary in Hong Kong and grant it a master license for the
People’s Republic of China. In turn, the subsidiary is expected to
license regional joint ventures for frack and waste water
treatment. A research and a manufacturing center are also
planned.
“Since we began actively marketing our technology at Singapore
Water Week this year, we have seen major interest in petroleum and
waste cleanup applications throughout East Asia and especially in
China,” said OriginOil Director and Chief Commercial Officer,
Jean-Louis Kindler, who will initially direct the subsidiary.
Kindler added: “Our testing has shown that we can clean up frack
water effectively in the north of China, and also process factory
waste effectively in Nanjing and other manufacturing centers. Our
priority now is to deploy quickly with deep relationships
throughout the country, to service the pent-up demand for our
process.”
One potential relationship is with JiangSu NJU Environmental
Technology Co., Ltd., an award-winning spinoff of Nanjing
University which claims more than 30 model facilities in Nanjing
Chemical Plant and 10 provinces and cities.
Dr. Charles Lyu, Director of JiangSu NJU Environmental
Technology, said: "We are quite impressed by the results and
demonstration we have seen so far and we believe OriginOil's EWS
technology can be instrumental in solving a variety of industrial
wastewater issues that as you know China has decided to address. We
hope that with EWS, our group can play a leading role in
environmental solutions engineering."
“China’s budget for water cleanup this year alone is 330 billion
dollars,” said Nicholas Eckelberry, OriginOil co-founder and Chief
Research Officer. “On my visits I was impressed with the urgency
and dedication of our potential partners. This country is committed
to handling its problems and we will respond in kind.”
The new subsidiary will benefit from OriginOil’s business
development in China, consisting of potential waste treatment
projects which process more than 60,000 m3 (15,000,000 gallons) per
day in the aggregate.
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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.
Abstract:
OriginOil launches Hong Kong subsidiary to initiate its China
commercial venture; OriginOil Hong Kong is expected to license
regional joint ventures for frack and waste water cleanup
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Services
Press Contact:Antenna Group – a Beckerman CompanyJerry
Schranz201-465-8020jerry@antennagroup.comorInvestor Relations
OriginOil:Tom BeckerToll-free: 877-999-OOIL (6645) Ext.
3International: +1-323-939-6645 Ext. 3Fax:
323-315-2301ir@originoil.comwww.originoil.com
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