LOS ANGELES, May 2, 2017 /PRNewswire/ -- OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, announced today that it agreed in principle to address the country's long-term water crisis by directly targeting 2.8 million small and medium enterprises (SMEs). A planned joint venture, OriginClear Thailand, is intended to access up to 13,000 factories with its proprietary Electro Water Separation with Advanced Oxidation technology, to help address the country's long-term water crisis.
"This is a new approach to entering a country, working through the SMEs and the factories they control and work with," said Jean Louis Kindler, President of OriginClear's Technologies Division. "If this is successful it could become a model for entering more countries with our licensable technology."
In a ceremony in Bangkok last week, Mr. Kindler accepted a term sheet with Green Zone Innovation, a group headed by Mr. Chumpol Chaiwat, Deputy President to the Federation of Thai SME Association (video), and Marathon Intertrade, a marketing company for water treatment solutions, to create OriginClear Thailand.
The project has the active support of Dr. Boonsakdi Lorpipatana, professor at the Kasem Bundit University in Bangkok, and a stakeholder in Thailand 4.0 Innovation, a major government policy aimed at achieving economic parity and balance between the environment and society. Dr. Lorpipatana plans to advise Green Zone Innovation and Marathon Intertrade on this joint venture.
"Thanks to our planned partnership with OriginClear, we believe we will be able to combine its process with our own complementary technology, to address many more needs," said Mr. Kanphong Lorpipat, Managing Director of Marathon Intertrade. "The 2.8 million SMEs we serve directly are in top target industries including energy management, sugar and ethanol, food, drinking water, aquaculture, and agriculture. These businesses need help to meet Thailand 4.0 goals."
The parties have defined a schedule for execution of the definitive agreement and other binding documents. Until these have been entered, there cannot be any assurance that the joint venture will be implemented.
While it is the second largest economy in Southeast Asia for GDP, and 27th in the world (World Bank, 2015), the Kingdom of Thailand is still an emerging country for water treatment, purifying only 15 percent of the water it consumes. The master plan for the Bangkok Metropolitan Region alone calls for 19 additional water treatment plants, in addition to the eight in operation or already in the bidding process.
About OriginClear, Inc.
OriginClear is a leading provider of water treatment solutions and the developer of a breakthrough water cleanup technology serving the rapidly growing $500 billion 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 electrolysis, that we license worldwide to water treatment equipment manufacturers. Water is our most valuable resource, and the mission of the "Family of OriginClear Companies" 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.
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SOURCE OriginClear, Inc.