Tweet this: @OriginClear 2015 estimated revenue increased 700% over 2014’s http://www.originclear.com/?p=17447
--(BUSINESS WIRE)-- OriginClear Inc
. (OTC/QB: OOIL
), a leading provider of water treatment solutions, today announced that its 2015 revenue estimates show a dramatic improvement over previous years. Revenue, an estimated $1,170,000
in 2015, increased by 700%, year over year, from 2014 which was approximately $200,000
. The bulk of the increase came from the new subsidiary, Progressive Water Treatment, which began to contribute its revenues in the 4th
Quarter, when the acquisition closed
“Our Progressive Water Treatment (PWT) acquisition contributed revenue for the 4th quarter only – but that was good for a million dollars,” said Riggs Eckelberry, OriginClear CEO. “The Board is very happy with our strategy of acquiring profitable, growing water service companies.”
In addition to its revenue in the 4th Quarter, PWT also booked sales orders of $2,700,000, a great start to potential revenue in 2016.
While most of the good news came from PWT, the OriginClear Technologies division did well too, doubling its revenues to $307,000 in 2015, with an $850,000 balance on its recent joint venture licensing agreement still expected in the first half of 2016.
“OriginClear is actively helping us develop our e-commerce and internet lead generation, which we think will generate significant additional business for us in 2016,” said Marc Stevens, President of the Progressive Water Treatment subsidiary. “The new website just generated leads for $50,000 in potential business last week alone!”
“On top of these gains by PWT and OriginClear Technologies, our OriginClear Group is aggressively moving forward with plans for acquisitions in 2016 that would further increase revenues,” said Bill Charneski, President of the OriginClear Group™. “Our plans are to extend the group to include more markets, technologies and regions of the country.”
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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.
OriginClear 2015 revenue estimates show 700% increase over 2014; PWT contributes $1 million in 4th quarter and lines up $2.7 million in sales orders for 2016
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View source version on businesswire.com: http://www.businesswire.com/news/home/20160126005656/en/
Sarah Mier, 415-977-1947
Investor Relations OriginClear:
Toll-free: 877-999-OOIL (6645) Ext. 3
International: +1-323-939-6645 Ext. 3
Source: OriginClear Inc.
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