OriginClear Inc. (OTCQB: OCLN), a leading provider of water treatment solutions, recently entered into a licensing agreement with Water Technologies International, Inc. (OTC: WTII), of Port St. Lucie, FL, which commercializes the innovative SIMPOD portable waste water treatment plant, and has developed a line of atmospheric water generators.
Jean-Louis "JL" Kindler, President of OriginClear's Technology Division said, "This agreement will give OriginClear a strategic presence in the Southeast. We also plan to connect Water Technology with our academic partner, Florida Atlantic University (FAU), for scientific testing and further innovation."
The licensing agreement gives Water Technologies access to OriginClear's patented electrochemical treatment process, Electro Water Separation with Advanced Oxidation™ (EWS:AOx™), and support to enter the oil and gas and other markets. Water Technologies also acquired an EWS demonstration and research unit.
OriginClear also purchased approximately 9% of Water Technologies common stock, and lent additional funds, helping Water Technologies finalize its acquisition of West Palm Beach-based WaterZone, which has specialized, for over 30 years, in complete system design, installations and maintenance for commercial, industrial and residential customers through Florida.
The Technical Assistance Program fee, another part of OriginClear's licensing agreement, was paid to OCLN in WTII preferred shares. The license also calls for standard royalty payments to OriginClear.
"We intend to integrate OriginClear's technology for clarifying very dirty, very oily water for oil and gas produced water and landfill runoff water," said William Scott Tudor, CEO of Water Technologies International, Inc. "We were also very grateful for OriginClear's timely support in completing our strategic acquisition of WaterZone."
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