Production Underway for Units 13 and 14 Under Hydrozonix License
Stuart, FL (GLOBE NEWSWIRE) - Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative manufacturing company, today announced that the Company and its majority-owned subsidiary, Ecosphere Energy Services, LLC, completed manufacturing, acceptance and delivery of two Ozonix® EF80 units to Hydrozonix, LLC in the fourth quarter of 2012. Following the delivery of units 11 and 12, Ecosphere has commenced production of units 13 and 14.
"I am pleased to see that the first twelve Ozonix EF80 systems have been successfully delivered to Hydrozonix under our long-term contract," stated John Brewster, Chairman and CEO of Ecosphere Technologies. "Hydrozonix now has a fleet of Ozonix EF80 units that are being deployed in a variety of shale plays throughout the U.S. to continue to extend the reach of our patented Ozonix technology."
Since initiating its license agreement, Hydrozonix has treated approximately 19 million barrels (nearly 800 million gallons) of water using Ecosphere's patented chemical-free Ozonix advanced oxidation process to eliminate biocides and scale inhibitors, while enabling 100% recycling of flowback and produced waters.
Brewster further stated, "With Hydrozonix, we have proven our 'open innovation' intellectual property licensing model and we are well-positioned to continue our growth strategy and expansion into new geographic and industrial markets."
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a water engineering, technology licensing and innovative manufacturing company that develops non-chemical water treatment solutions for industrial markets throughout the world. The Company is a leader in emerging advanced oxidation processes and has an extensive portfolio of intellectual property that includes five United States patents for the Ecosphere Ozonix® process. The patented Ecosphere Ozonix® process is a revolutionary advanced oxidation process that is currently being used by energy exploration companies to reduce costs, increase treatment efficiencies and eliminate liquid chemicals from wastewater treatment operations around the United States.
A recipient of Frost & Sullivan's 2012 North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment, Ecosphere has enabled oil and gas customers to recycle and reuse over two billion gallons of water on more than 600 oil and natural gas wells in major shale plays around the United States since 2008.
For more information, please visit www.EcosphereTech.com.
Hydrozonix, LLC provides mobile, high rate, environmentally-friendly water treatment solutions to the oil and gas exploration and production industry. Hydrozonix is a strategic alliance between the principals of Phillips and Jordan, Inc., the Siboney Group, and PBA Holdings.
For more information, please visit www.Hydrozonix.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including being well positioned to continue our growth strategy.
Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include a decline in the price of natural gas, unexpected delays and problems in manufacturing the units including delays in the receipt of, or problems with, parts from component manufacturers, unexpected issues in our working relationship with Hydrozonix, federal or state regulations which adversely affect hydraulic fracturing, and the results of proposed pilots outside of oil and gas fracturing.
Further information on our risk factors is contained in our filings with the SEC, including our Form 10-K for the year ended December 31, 2011. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE: Ecosphere Technologies, Inc.