LOS ANGELES--(BUSINESS WIRE)--OriginClear Inc. (OTC/QB: OOIL), a leading provider of water treatment solutions, today announced that it has agreed to become a strategic partner of the Los Angeles Cleantech Incubator (LACI), a non-profit organization led by the City of Los Angeles and its Department of Water and Power (LADWP), that helps accelerate the commercialization of clean technologies.
OriginClear has also relocated its headquarters to the incubator’s La Kretz Innovation Campus (La Kretz) in downtown Los Angeles and intends to support the cleantech community by mentoring entrepreneurs in the newly-formed cluster of water technology startups.
“OriginClear has been a cleantech pioneer in our city for nearly a decade, and we welcome it to La Kretz,” said Matt Petersen, Chief Sustainability Officer of the City of Los Angeles. “It’s companies like OriginClear that are helping to resolve our pressing water problems, and we’re grateful for their work to share lessons learned with the rest of the world.”
OriginClear is a longtime supporter of initiatives such as CleanTech Los Angeles, the California Business Alliance for a Clean Economy, and the Sustainable Business Council of Los Angeles.
“We have built big, all the way to commercial scale, at our mid-city headquarters,” said Riggs Eckelberry, OriginClear CEO. “Now we’ve turned high tech and the more than $5 million in testing and prototyping equipment at La Kretz is exactly what we need to support our scientific programs, and to export our technology.”
Eckelberry added, “We are excited that LADWP is funding a major portion of La Kretz, with an R&D lab and demonstration labs. It is the most innovative municipal utility in the nation, making this the most exciting place to be for water in the United States, and perhaps the world.”
LACI is a world-class technology incubator, recently ranked #3 on the list of World Top University Associated Business Incubators for 2015, from a field of more than 1,200 incubators worldwide.
“As we acquire more fast-growing companies in water services, our new base at La Kretz will be an important resource,” said Bill Charneski, President of the OriginClear Group. “Our subsidiaries will be able to tap resources here far beyond what is available to them locally.”
In addition to its Los Angeles technology center, OriginClear maintains an active alliance with California State University at Bakersfield (CSUB), where it is helping to develop methods to safely reuse produced water for irrigation, and also helping oil industry workers train for careers in water reclamation.
OriginClear is rapidly increasing its capabilities by acquiring companies that provide systems and services to treat water in a wide range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil & gas. It completed the acquisition of the first such company, Dallas-based Progressive Water Technology (PWT), on 1 October, 2015.
Photos:
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A scale model of the La Kretz Innovation Campus
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In November Vice President of the United States Joe Biden visited LACI to take part in a roundtable discussion with Fred Walti and Mayor Eric Garcetti to discuss jobs and clean technology.
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LACI was ranked #3 on the list of World Top University Associated Business Incubators for 2015, by UBI Global.
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About OriginClear, Inc.
OriginClear is a leading provider of water treatment solutions and the developer of a breakthrough water cleanup technology serving the world market. Through its wholly owned subsidiaries, OriginClear provides systems and services to treat water in a wide range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil & gas. To rapidly grow this segment of the business, we strategically acquire profitable and well-managed water treatment companies, which allow us to expand our global market presence and technical expertise. To enable a new era of clean and socially responsible water treatment solutions, we invented Electro Water Separation™, a breakthrough high-speed water cleanup technology using multi-stage electrochemistry, that we license worldwide to water treatment equipment manufacturers. Water is our most valuable resource, and the mission of The OriginClear Group™ is to improve the quality of water and help return it to its original and clear condition. To learn more about OriginClear®, please visit our website at www.originclear.com.
OriginClear 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:
OriginClear forms strategic partnership with Los Angeles Cleantech Incubator; sets new HQ at LACI’s La Kretz Innovation Campus, plans to mentor startups in the water cluster.
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