OriginOil Launches Hong Kong Subsidiary to Initiate its China Commercial Venture
OriginOil Hong Kong is expected to license regional joint ventures for frack and waste water cleanup
Los Angeles – December 22, 2014 – OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation™ (EWS), the high-speed, chemical-free process to clean up large quantities of water, announced today that it will launch a subsidiary in Hong Kong and grant it a master license for the People’s Republic of China. In turn, the subsidiary is expected to license regional joint ventures for frack and waste water treatment. A research and a manufacturing center are also planned.
“Since we began actively marketing our technology at Singapore Water Week this year, we have seen major interest in petroleum and waste cleanup applications throughout East Asia and especially in China,” said OriginOil Director and Chief Commercial Officer, Jean-Louis Kindler, who will initially direct the subsidiary.
Kindler added: “Our testing has shown that we can clean up frack water effectively in the north of China, and also process factory waste effectively in Nanjing and other manufacturing centers. Our priority now is to deploy quickly with deep relationships throughout the country, to service the pent-up demand for our process.”
One potential relationship is with JiangSu NJU Environmental Technology Co., Ltd., an award-winning spinoff of Nanjing University which claims more than 30 model facilities in Nanjing Chemical Plant and 10 provinces and cities.
Dr. Charles Lyu, Director of JiangSu NJU Environmental Technology, said: “we are quite impressed by the results and demonstration we have seen so far and we believe OriginOil’s EWS technology can be instrumental in solving a variety of industrial wastewater issues that as you know China has decided to address. We hope that with EWS, our group can play a leading role in environmental solutions engineering.”
“China’s budget for water cleanup this year alone is 330 billion dollars,” said Nicholas Eckelberry, OriginOil co-founder and Chief Research Officer. “On my visits I was impressed with the urgency and dedication of our potential partners. This country is committed to handling its problems and we will respond in kind.”
The new subsidiary will benefit from OriginOil’s business development in China, consisting of potential waste treatment projects which process more than 60,000 m3 (15,000,000 gallons) per day in the aggregate.
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