Los Angeles, CA (PRWEB) June 30, 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 in a letter to shareholders, CEO Riggs Eckelberry reported on how OriginOil is now helping to process frack water from California's Monterey Formation.
Eckelberry also reported that last week, the company named a new licensee with relationships in the "Fortune 50" tier of oil companies.
Fracking is now beginning to happen in Germany, the UK, Japan, and especially China, which could reduce its gas imports by up to 40 percent by 2020. The OriginOil CEO reported that last week, a demo unit was shipped to a multinational for testing in China fracking operations.
The full report is now available on OriginOil.com's website at http://www.originoil.com/ceos-update/processing-californias-frack-water.
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Matters discussed in this release 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. 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 our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology, and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly, any forward-looking statements for any reason.
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