1888 Press Release – Joint venture will intended to provide quick-response water reclamation for franchisees, insurers and impacted communities.
Memphis, TN-AR-MS – OriginClear Inc. (OTC/QB: OOIL), developer of breakthrough water cleanup technology, and OriginClear licensee E3 Services and Solutions, LLC (E3), have teamed up to form a joint venture (JV) intended to offer quick-response disaster water reclamation services to the SERVPRO network of 1800 franchisees in North America.
“E3 and OriginClear are already responding to the first job opportunity outside the state of California, a floodwater disaster in Oklahoma City,” said Jeffrey Matlock, Director of Operations at SERVPRO of Fort Collins. “The water should be treated fast and efficiently, from previous field tests I have seen.”
“SERVPRO is the nation’s leading first responder to water damage crises and works with insurance companies nationwide,” Matlock continued. “Tougher water disposal regulation means that franchisees like us will have hundreds of new business opportunities. It also means we need an on-call resource for fast and efficient water treatment. That’s where E3 and OriginClear come in with their new technology, which can be deployed quickly and effectively.”
OriginClear and E3 agreed to equal ownership of the JV. OriginClear will bring its technology expertise and resources, while E3 will contribute its industry relationships and marketing to the SERVPRO franchisee network. The JV intends to develop quick-response capabilities for franchisees through assets pre-positioned nationwide.
“This is a unique marketing opportunity, because the SERVPRO franchisee is the client but the insurance company pays the bills,” said Talbott Howard, CEO of E3 Services and Solutions, Inc. “We believe that ensures rapid funding in these emergency situations.”
“World-class funding requires world-class standards,” he continued. “Based on our work to date with them, OriginClear is the right partner to get this done. It is a pleasure working with such a highly responsive and competent team. We look forward to a hugely successful venture together.”
“The opportunities are huge,” said Riggs Eckelberry, OriginClear CEO. “Just this week, a nine-mile slick of spilled crude oil fouled parts of the California coastline near Santa Barbara. We expect that we will have crash-truck response capability using OriginClear technology that benefits industries, insurers and communities alike.”
Last year, E3 initialized the opportunity through Ludvik Holdings and became a licensee of OriginClear technology.