OriginOil to Rename Company ‘OriginClear’
Rename positions the company to better serve wide water cleanup market
Los Angeles – April 16, 2015 – OriginOil™ Inc. (OTC/QB: OOIL), developer of breakthrough water cleanup technology, announced OriginOil is now named OriginClear™ Inc., effective immediately. The company ticker symbol, OOIL, will remain unchanged.
“As our company has grown, it’s become apparent that our technology can serve a vast number of markets in need of innovative water cleanup solutions,” said Riggs Eckelberry, CEO of the newly named OriginClear. “The new name, OriginClear, reflects our proven ability to treat water to a very high level of clarity.”
“We previously stated our intention to acquire profitable companies in our sector,” added Eckelberry. “We believe the new name will help us integrate a wider variety of companies in the water treatment industry.”
“While we plan to keep supplying proof-of-concept machines to new licensees, we are not in the business of selling directly to end-users,” stated OriginClear’s newly-appointed chief operating officer, “JL” Kindler. “We believe this strategy will help us distribute our technology widely, without the tremendous capital investment required to build a large-scale manufacturing company. Also, we believe licensing will help ensure that our channel partners never experience unfair competition from us.”
“Recent third party testing has shown that our technology reduces all measures of non-soluble contamination to very low, or undetectable levels, essentially making the water clear,” said Nicholas Eckelberry, co-founder and chief research officer. “That, then, is our mission and our name.”
OriginOil’s subsidiary, OriginOil Hong Kong, will also be renamed OriginClear Hong Kong Inc.
As a separate application of its water clarification process, OriginClear will continue to provide effective algae harvesting technology to licensees in that industry.
Safe Harbor Statement:
Matters discussed in this update 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, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. 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: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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