OriginOil, Inc (OOIL) Licensee Sells 4 EWS based Systems: A Major Milestone is Reached

NEW YORK - Sept. 22, 2014 - PRLog -- This morning OriginOil announced that Delta, Colorado-based Industrial Systems Inc. (ISI) has sold four industrial systems, powered by OriginOil’s EWS, to Synergy Resources for produced water and oily waste treatment in Trinidad and Tobago (T&T). This milestone represents the first commercial sale by an OriginOil licensee of a system incorporating EWS!

The four units, built for on-site processing of waste oil, are each capable of treating 250 barrels per day of contaminated water. Synergy Resources, of oil-rich Trinidad & Tobago, expects the system to reduce water treatment costs, lessen adverse environmental impacts, decrease freshwater requirements for industrial processes such as steam reinjection for enhanced oil recovery, and help operators comply with environmental regulations.

   “ISI will integrate our process with existing filtering and membrane systems that typically suffer from clogging without our pre-treatment,” stated Lee Portillo, OriginOil vice president of engineering. “This is a challenging assignment, but we believe we can help recover significant amounts of valuable oil, while delivering cleaned water for beneficial uses.”

Bottom Line: This deal in Trinidad with Synergy Resources may only be for 4 systems, but these are big machines and represent a nice win for the company, in my opinion. More importantly, OOIL is getting Big Oil to nibble at the licensing model which is the culmination of YEARS of patience and Management’s hard work!  Make sure this one is on your radar as we kick off a new week of market action!

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About OriginOil

OriginOil’s focus has been on an aggressive licensing and private label strategy as opposed to a simple equipment sales program. According to management, they see this as much more fruitful long-term revenue generation strategy and for early investors, this could mean much larger upside potential once the company moves forward with new contracts for future licensees.

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