PWT contributes $1 million in 4th quarter and lines up $2.7 million in sales orders for 2016
Los Angeles – January 26, 2016 – OriginClear Inc. (OTC/QB: OOIL), a leading provider of water treatment solutions, today announced that its 2015 revenue estimates show a dramatic improvement over previous years. Revenue, an estimated $1,170,000 in 2015, increased by 700%, year over year, from 2014 which was approximately $200,000. The bulk of the increase came from the new subsidiary, Progressive Water Treatment, which began to contribute its revenues in the 4th Quarter, when the acquisition closed.
“Our Progressive Water Treatment (PWT) acquisition contributed revenue for the 4th quarter only – but that was good for a million dollars,” said Riggs Eckelberry, OriginClear CEO. “The Board is very happy with our strategy of acquiring profitable, growing water service companies.”
In addition to its revenue in the 4th Quarter, PWT also booked sales orders of $2,700,000, a great start to potential revenue in 2016.
While most of the good news came from PWT, the OriginClear Technologies division did well too, doubling its revenues to $307,000 in 2015, with an $850,000 balance on its recent joint venture licensing agreement still expected in the first half of 2016.
“OriginClear is actively helping us develop our e-commerce and internet lead generation, which we think will generate significant additional business for us in 2016,” said Marc Stevens, President of the Progressive Water Treatment subsidiary. “The new website just generated leads for $50,000 in potential business last week alone!”
“On top of these gains by PWT and OriginClear Technologies, our OriginClear Group is aggressively moving forward with plans for acquisitions in 2016 that would further increase revenues,” said Bill Charneski, President of the OriginClear Group™. “Our plans are to extend the group to include more markets, technologies and regions of the country.”