Island’s need to restore hurricane-ravaged infrastructure seen as opportunity to demonstrate potential for decentralized water funding.
Los Angeles, CA – April 18, 2018 – OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today announced that WaterChain, its decentralized water funding initiative, issued an open call for modular, on-site water treatment projects, with an early focus on the hurricane-affected island of Puerto Rico.
Candidates can fill out a form for consideration of their projects at https://goo.gl/hVGhqn.
WaterChain plans to fund modular, on-site industrial, agricultural and commercial projects that local service providers will install and manage, for customers who are willing to make a long-term commitment to fair usage rates. Having made such a commitment, these customers would benefit from fully-serviced on-site water treatment and recycling systems, without requiring a capital expense on their part.
WaterChain is intended to be a funding mechanism for such decentralized water projects, with plans to implement blockchain elements to make these more efficient. WaterChain’s focus is on developing profitable water projects for its investors.
Puerto Rico is seen as an early candidate for decentralized water treatment because last year’s Hurricane Maria badly damaged the island’s centralized water infrastructure.
“We have a vision for decentralized water funding, and we want to put some of the intended early funding into one or more actual projects on the island of Puerto Rico”, said Riggs Eckelberry, CEO of OriginClear. “These first projects will show our commitment to developing and deploying the next generation of water treatment technologies. Even without using blockchain technology, there is a huge need for immediate solutions in Puerto Rico, and we want to begin now, while we continue to develop WaterChain.”
Eckelberry outlined the WaterChain concept in February, with a presentation to the d10e Silicon Valley conference (video). In March, he visited the island of Puerto Rico and spoke on the need to address the deep problems there (video).
“While FEMA terminated food and water aid to Puerto Rico last week (news), I personally know of businesses, such as hotels, that must fix their water treatment systems if they want to reopen,” said WaterChain advisor Enrique Martinez. “I intend to work personally with the WaterChain team to help develop small, manageable projects that demonstrate this breakthrough concept for modular, on-site water treatment.”
Martinez is already on the ground in Puerto Rico, having already begun to develop energy microgrid solutions to power challenges on the island (news). He sees this work as complementary to the new WaterChain initiative in Puerto Rico.
Eckelberry cautioned that WaterChain has only just begun raising the funding needed to develop the projects it selects in Puerto Rico. OriginClear does not yet have material contracts or commitments for services in Puerto Rico, and has not begun to receive revenue from operations there. There is no guarantee that any company-funded water treatment project can be implemented in any region including Puerto Rico, or that the Company’s efforts will result in significant business or funding for OriginClear or its WaterChain initiative.
Persons from the water industry interested in making WaterChain a reality should contact the company at www.waterchain.io. The company plans to develop the solution in close consultation with the industry, but cautions that there is no assurance this effort will succeed, or that it will successfully fund, and eventually develop, a cryptocurrency offering.
Get news about WaterChain’s white paper and product updates by clicking www.waterchain.io.