STUART, Fla., Aug. 27, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that William P. Foley, II, Chairman of Fidelity National Financial, Inc. (NYSE:FNF), has been elected as Chairman of Fidelity National Environmental Solutions, LLC (FNES), formerly Ecosphere Energy Services, LLC (EES).
"The new name is more than just a reflection of our increased ownership stake in the company," said William P. Foley, II, Chairman of FNF. "It represents FNF's commitment to protecting vital water resources and becoming the leading provider of environmental water treatment solutions to the global energy industry."
John Kuelbs, former Chairman of EES, has been elected Vice Chairman of FNES. Mr. Kuelbs is credited with recognizing the early vision of Ecosphere and played an essential role in bringing together the original investors of FNES. Kuelbs stated, "I am happy to see that FNF, a Fortune 500 company, has continued to increase its ownership position and will now be able to deploy the resources necessary to take FNES to the next level. It is an exciting time for the company."
Robert Cathey, CEO of FNES stated, "Chairman Foley brings the experience and resources to the company that will allow us to rapidly expand and broaden our operations in the oil and gas sector and also begin to explore the many other opportunities within the energy field for the Ozonix® technology. I look forward to working with Mr. Foley and the Board of Directors to maximize our ability to use this proven, non-chemical and environmentally friendly process to treat contaminated waters around the world."
Dennis McGuire, Chairman and CEO of Ecosphere Technologies (ETI) said, "It is very rewarding to have Bill Foley and FNF step forward to take on such an active role in Fidelity National Environmental Solutions. ETI's business model of inventing and patenting environmental technologies, commercializing those technologies in their respective fields of use, and then licensing the proven technology to world class companies like FNF has now been realized in the energy sector."
McGuire continued, "I would like to thank Bill Foley and his team for their continued commitment to FNES, as well as all of our dedicated employees at Ecosphere that helped us reach this important milestone."
Fidelity National Environmental Solutions, a leading water treatment provider to the energy services sector, has an exclusive field-of-use license for Ecosphere's patented Ozonix® technology for global energy applications including, but not limited to, onshore and offshore oil and natural gas exploration and production, power generation, refineries and coal. FNES currently provides energy exploration companies with mobile wastewater treatment equipment to eliminate chemicals from hydraulic fracturing operations in the United States.
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a water engineering, technology licensing and innovative U.S. manufacturing company that develops environmental 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 customers to reduce costs, increase treatment efficiencies and eliminate harmful chemicals from wastewater treatment operations around the United States. Ozonix® can be used to replace chemicals in a wide variety of industries and applications, including but not limited to agriculture, energy, environmental, food and beverage, industrial, mining, metals and minerals, marine, and municipal wastewater treatment.
In 2013, Ecosphere was chosen by Bloomberg as a New Energy Pioneer and selected by IHS CERAWeek as a 2013 Energy Innovation Pioneer. Ecosphere is also a recipient of the 2013 American Technology Award - "Clean Tech/Green Tech" category and the 2012 Frost & Sullivan North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment. In addition, Ecosphere has been chosen for the Artemis "Top 50 Water Tech" Listing for the last three years.
Since 2008, Ecosphere has enabled oil and gas customers to treat, recycle and reuse over 3 billion gallons of water on more than 800 oil and natural gas wells.
For more information, please visit www.EcosphereTech.com.
About Fidelity National Financial
Fidelity National Financial, Inc. (NYSE:FNF) is a leading provider of title insurance, mortgage services and diversified services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF owns a 55% stake in American Blue Ribbon Holdings, LLC, a family and casual dining restaurant owner, operator and franchisor of the O'Charley's, Ninety Nine Restaurant, Max & Erma's, Village Inn, and Bakers Square concepts. FNF also owns an 87% stake in J. Alexander's, LLC, an upscale dining restaurant owner and operator of the J. Alexander's and Stoney River Legendary Steaks concepts. In addition, FNF also owns a 51% stake in Remy International, Inc., a leading designer, manufacturer, remanufacturer, marketer and distributor of aftermarket and original equipment electrical components for automobiles, light trucks, heavy-duty trucks and other vehicles. FNF also owns a minority interest in Ceridian Corporation, a leading provider of global human capital management and payment solutions.
More information about FNF can be found at www.fnf.com
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CONTACT: Investor Relations:
Gary Dvorchak, CFA
Senior Vice President
ICR, LLC
+1 (310) 954-1123
gary.dvorchak@icrinc.com
Press and Media Relations:
Brian Ruby
Vice President
ICR, LLC
+1 (203) 682-8268
brian.ruby@icrinc.com
Company:
Corey McGuire
Director of Marketing
Ecosphere Technologies, Inc.
+1 (772) 287-4846
cmcguire@ecospheretech.com
