STUART, Fla., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that it has established a number of new subsidiaries that have been granted exclusive global field-of-use licenses to deploy its patented Ozonix® water treatment technology in specific markets. Ecosphere created its first subsidiary, Ecosphere Energy Services, LLC (now Fidelity National Environmental Solutions, LLC or "FNES"), in 2009 to establish a market for Ozonix® in energy applications and will continue to use this successful model to license and monetize its intellectual property in other industries.
Ecosphere has established subsidiaries for six priority industries and has begun exploring strategic relationships for all six. As previously announced this year, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE:LTS), has been retained by the Company as its investment banker and will assist the Company in developing strategic opportunities for these new markets. The new subsidiaries are:
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Ecosphere Agriculture, LLC
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Ecosphere Food & Beverage, LLC
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Ecosphere Industrial, LLC
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Ecosphere Marine, LLC
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Ecosphere Mining, LLC
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Ecosphere Municipal, LLC
"From an intellectual property standpoint, Ecosphere holds a dominant position in combining multiple advanced oxidation technologies to treat water across a wide range of industries and applications," stated Dean Becker, Intellectual Property Strategist and Director of Ecosphere Technologies. "Following the successful execution of the FNES business focused on the oil & gas industry, the replication of this proven intellectual property licensing model of granting an exclusive Ozonix® field of use license to an industry-specific subsidiary is an ideal approach to maximizing value for our shareholders."
Becker continued, "We have been studying the various markets where access to and treatment of large volumes of water is most needed and have concluded that seeking strategic partners in mining, agriculture, food and beverage, industrial, marine and municipal wastewater treatment will put Ecosphere in the best position to successfully deploy its patented and proven Ozonix® technology across the global water treatment market."
"Since the formation of Ecosphere Energy Services (now Fidelity National Environmental Solutions) in 2009, Ecosphere's Ozonix® technology 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, protecting more than $4 billion worth of well assets, and generating over $65 million in revenue for its shareholders," said Dennis McGuire, Chairman and CEO of Ecosphere Technologies. "We have proven that Ozonix® can be used to cost-effectively replace toxic liquid chemicals in the oil and gas fracturing industry and are now focused on bringing Ozonix® to a wide variety of additional industrial markets to continue to reduce water treatment costs and preserve vital water resources."
For more information, please visit http://www.EcosphereTech.com/Divisions
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, food and beverage, industrial, mining, 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 was most recently named a finalist for the World Technology Awards in the corporate "Environment" category. In 2012, Ecosphere received 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 2009, Fidelity National Environmental Solutions, a company which ESPH holds a 31% interest, 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.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements including developing strategic opportunities and partners for the use of the Ozonix® technology in other markets. 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 the ability to locate a partner to finance the use of our technology in these new markets, successful use of Ozonix® in these new markets and general reluctance of businesses to utilize new technology.
Further information on our risk factors is contained in its filings with the Securities and Exchange Commission (the "SEC") including our Form 10-K for the year ended December 31, 2012. 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.
CONTACT: Investor Relations:
Gary Dvorchak, CFA
Senior Vice President
ICR, Inc.
+1 (310) 954-1123
gary.dvorchak@icrinc.com
Press and Media Relations:
Brian Ruby
Vice President
ICR, Inc.
+1 (203) 682-8268
brian.ruby@icrinc.com
Company:
Corey McGuire
Director of Marketing
Ecosphere Technologies, Inc.
+1 (772) 287-4846
cmcguire@ecospheretech.com
