OCLN - OriginClear Agrees to Sponsor Program to Finance Outsourced Water Projects
Customers can benefit from full-service contracts that reduce or eliminate the need for capital
OriginClear Inc. (OTC PINK: OCLN ), The Water Company for the New Economy™, today announced that it has agreed to acquire more real estate assets to finance water projects. Alfredo Guatto, partner in a US-based real estate development company (“Developer”), is in discussions with the company to finalize a definitive agreement under which OriginClear intends to acquire the Developer in a stock-for-stock transaction.
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A Modular Water Systems™ roll-in, roll-out mobile wastewater treatment unit (Photo: Business Wire)
“I am very grateful for the leadership of Ivan Anz, OriginClear advisor and founder of strategic partner Philanthroinvestors® Inc.,” said Alfredo Guatto. Recently, Anz invested his own real estate assets through a stock transaction.
If a definitive agreement is made and closed with this Developer, OriginClear intends to launch OriginClear Finance, a wholly-owned subsidiary with the sole purpose of investing in water projects. The Developer’s assets, and potentially others, would be housed in the subsidiary.
“The water industry is looking to managed services as the model of the future,” said Riggs Eckelberry, OriginClear CEO. “We watched as Aquaventure (NYSE: WAAS) pioneered it and did so well that Culligan acquired them last year . It is our intention to improve on this idea with our unique mobile systems that can be easily repossessed, reducing the need for elaborate credit qualifications, and also helping our Waterpreneurs™ offer pre-financed systems to customers.”
In 2020, OriginClear tested the concept with its first company-funded rental program, which enabled Ryan Kooistra, who was looking for a new career after losing his job during the 2020 Pandemic, to start a new business despite the lack of business credit, a very common problem in this economy. OriginClear built creative financing and an online learning program around this first Waterpreneur, establishing it as Water As A Career™.
A business can now outsource its wastewater treatment by simply signing on the dotted line, avoiding 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 believes it can look forward to speeded-up deals and many more revenue streams from providing water treatment as a service.
“Our secret weapon is our line of prefabricated, drop-in-place Modular Water Systems ,” said Tom Marchesello, OriginClear COO. “With these, we can provide equipment with greatly reduced guarantees by the end user because we can always repossess the equipment if the client fails to pay. We believe this is a key competitive advantage for us.”
The next steps will be to finalize valuation, complete the closing process and get the approval of the Board of Directors. The Company cautions there is no guarantee this acquisition will be completed or that the eventual fund for the development of water projects will be launched.
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.
For more information, visit the company’s website: www.OriginClear.com
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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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210225005354/en/
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