LOS ANGELES, April 18, 2018 /PRNewswire/ -- OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today announced that WaterChain, its decentralized water funding initiative, issued an open call for modular, on-site water treatment projects, with an early focus on the hurricane-affected island of Puerto Rico.
Candidates can fill out a form for consideration of their projects at https://goo.gl/hVGhqn.
WaterChain plans to fund modular, on-site industrial, agricultural and commercial projects that local service providers will install and manage, for customers who are willing to make a long-term commitment to fair usage rates. Having made such a commitment, these customers would benefit from fully-serviced on-site water treatment and recycling systems, without requiring a capital expense on their part.
WaterChain is intended to be a funding mechanism for such decentralized water projects, with plans to implement blockchain elements to make these more efficient. WaterChain's focus is on developing profitable water projects for its investors.
Puerto Rico is seen as an early candidate for decentralized water treatment because last year's Hurricane Maria badly damaged the island's centralized water infrastructure.
"We have a vision for decentralized water funding, and we want to put some of the intended early funding into one or more actual projects on the island of Puerto Rico", said Riggs Eckelberry, CEO of OriginClear. "These first projects will show our commitment to developing and deploying the next generation of water treatment technologies. Even without using blockchain technology, there is a huge need for immediate solutions in Puerto Rico, and we want to begin now, while we continue to develop WaterChain."
Eckelberry outlined the WaterChain concept in February, with a presentation to the d10e Silicon Valley conference (video). In March, he visited the island of Puerto Rico and spoke on the need to address the deep problems there (video).
"While FEMA terminated food and water aid to Puerto Rico last week (news), I personally know of businesses, such as hotels, that must fix their water treatment systems if they want to reopen," said WaterChain advisor Enrique Martinez. "I intend to work personally with the WaterChain team to help develop small, manageable projects that demonstrate this breakthrough concept for modular, on-site water treatment."
Martinez is already on the ground in Puerto Rico, having already begun to develop energy microgrid solutions to power challenges on the island (news). He sees this work as complementary to the new WaterChain initiative in Puerto Rico.
Eckelberry cautioned that WaterChain has only just begun raising the funding needed to develop the projects it selects in Puerto Rico. OriginClear does not yet have material contracts or commitments for services in Puerto Rico, and has not begun to receive revenue from operations there. There is no guarantee that any company-funded water treatment project can be implemented in any region including Puerto Rico, or that the Company's efforts will result in significant business or funding for OriginClear or its WaterChain initiative.
Persons from the water industry interested in making WaterChain a reality should contact the company at www.waterchain.io. The company plans to develop the solution in close consultation with the industry, but cautions that there is no assurance this effort will succeed, or that it will successfully fund, and eventually develop, a cryptocurrency offering.
Get news about WaterChain's white paper and product updates by clicking www.waterchain.io.
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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 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. In particular, statements about the WaterChain initiative and its implementation for projects in Puerto Rico are forward-looking statements. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations. These include, but are not limited to, the need to successfully design and deploy a new blockchain protocol, the success of our current and future efforts to raise capital for WaterChain, market acceptance of the protocol and its accompanying transactional coin, competition within the blockchain space, 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.
SOURCE OriginClear, Inc.