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OriginClear Inc. (OCLN) reports developments around OriginSpark, its venture focused on tax-advantaged funding of scarce assets and Bitcoin mining acceleration. Recent company updates describe joint ventures with Bitcoin mining operators, project-financing initiatives, access to energy and data-center infrastructure, and scarce-asset funding structures.
The company also refers to its completed spinoff of Water On Demand, its former industrial water business, and to recurring public-company topics such as material agreements, shareholder voting matters, capital-structure disclosures, governance matters, and operating results.
OriginClear Inc. (OTC Pink: OCLN) reported the receipt of its first six-figure investment in their Water On Demand program aimed at making water treatment accessible through a pay-per-gallon model. This innovative system allows commercial users to avoid substantial capital expenses associated with water systems. The program includes Design-Build-Own-Operate contracts, introducing a new revenue generation model for water treatment. The demand for such solutions has increased due to deteriorating national water infrastructure, requiring an estimated $271 billion to maintain.
OriginClear Inc. (OTC Pink: OCLN) is set to present at the 14th annual Virtual LD Micro Main Event on October 14, 2021, at 10:00 AM EDT. The presentation, led by VP of Business Development Ken Berenger, will highlight the company's innovative technologies aimed at transforming the water industry. OriginClear specializes in outsourced pay-per-gallon water treatment solutions. The event can be attended virtually or in-person in Los Angeles, CA. This presentation provides an opportunity to engage with the company's mission and advancements in water technology.
OriginClear Inc. (OTC Pink: OCLN) has deployed its first Pondster™ brand modular lagoon treatment system at a mobile home park in Troy, Alabama. The innovative system uses a biofilm treatment process, showing significant water quality improvement in just eight days. The company aims to expand its offerings to similar facilities and highlights the necessity for such solutions due to increasing regulations and high connection expenses to municipal systems, which can exceed $750,000.
OriginClear Inc. (OTC Pink: OCLN) announced the engagement of Baja Technologies Inc. for the development and launch of its new cryptocurrency, ClearAqua™. The initial step involves creating a white paper, expected in early October. CEO Riggs Eckelberry highlighted the decentralized approach to water treatment, which aims to empower communities worldwide to address water issues. The ClearAqua token will incentivize community members and streamline funding for water projects. ClearAqua.org will manage these initiatives, enabling various stakeholders to participate in solving water challenges.
OriginClear Inc (OCLN) has secured a $1.8 million purchase order from a major U.S. power utility under a Master Services Agreement with its subsidiary, Progressive Water Treatment (PWT). The total expected revenue under the MSA is $5 million, dependent on future orders. This contract marks a significant return to large power plant contracts for PWT, which previously held notable projects with the utility. Additionally, OriginClear’s Modular Water Systems division recorded nearly $900,000 in orders in June, indicating strong demand.
OriginClear Inc (OTC Pink: OCLN) has appointed Prasad Tare as its new Chief Financial Officer. With over 15 years of experience in public accounting and financial reporting, Tare is expected to enhance the company’s risk management and audit activities. CEO Riggs Eckelberry highlighted Tare's expertise in improving focus on critical areas within the organization. Tare expressed enthusiasm about contributing to the company’s mission of enhancing water safety and developing innovative financing solutions. The company is based in Clearwater, Florida.
OriginClear Inc (OCLN) has appointed Ricardo Fabiani Garcia, a seasoned technologist and investor, to its Board of Advisors. Garcia will assist in the development of the company's $H2O cryptocurrency project aimed at enhancing payment systems for outsourced water services. He brings extensive experience in managing complex technological programs and will guide the management in resource allocation and roadmap setup. Previously, the company filed a patent for a blockchain payment incentive system for water treatment services, marking a strategic move towards digital finance in the water sector.
OriginClear Inc (OTC Pink: OCLN) announced its CEO's participation in the LD Micro Invitational XI virtual investor conference from June 8-10, 2021. The presentation will focus on the development of Water On Demand total outsourcing and a prospective water coin, $H2O. The company recently filed a patent application leveraging blockchain and NFT technology for efficient payment distribution for outsourced water services. The LD Micro event aims to showcase 180 companies, highlighting the best performers and newcomers in the small-cap sector.
OriginClear Inc (OTC Pink: OCLN) has filed a trademark application for the mark $H2O, aimed at representing its planned blockchain payment system for water services. CEO Riggs Eckelberry stated that this initiative will streamline payments and reduce errors. The company also filed a patent for using blockchain and NFTs in payment distribution for outsourced water treatment. While the current Water On Demand system operates using standard financial channels, OriginClear is exploring blockchain solutions to enhance user experience and benefits for investors and partners.
OriginClear Inc (OTC Pink: OCLN) reported a 14% revenue increase, totaling $4.1 million for the year ending December 31, 2020, compared to $3.6 million in 2019. Gross profit surged 65% to $611,775, up from $370,866. However, losses from operations also rose by 21%, reaching $4.7 million, up from $3.9 million in the prior year. CEO Riggs Eckelberry commended the team for achieving revenue growth despite COVID-related challenges. The company focuses on innovative water solutions, aiming to address issues in the water systems sector.