OriginClear Inc. (OTC: OCLN), a leading provider of water treatment solutions, reported today that in January, its Progressive Water Treatment Inc. (PWT) (www.progressivewater.com) subsidiary nearly tripled its rate of bookings, totaling about $900,000 in Purchase Orders (POs) for the month. The largest win was for a power plant, in competition against five major equipment manufacturers.
The power plant purchase order is staged in 5 payments, the last being on July 3. The remaining POs have Net 30 terms. None of the January POs has a cancellation option.
I am ecstatic as well as the rest of the OriginClear team with the early results from Marc Stevens, Mike Jenkins and the entire PWT team, said Riggs Eckelberry, CEO of OriginClear. They won that large contract against fierce competition because of diversity, attention to detail, and a successful track record. This increase in bookings is a great start for the new year!
The power plant opportunity came through a manufacturers rep recommendation. As reported recently, OriginClear has seen significant growth from its developing sales network.
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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. 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.