Our first-ever licensing agreement.
Yesterday's announcement was huge for us!
For the first time, our Clean-Frac™ process will become part of another company's system for cleaning frack water. We are proud to position as the first step, the one that gets up to 98% of the contaminants out, right on the first pass.
Pearl H2O, our OEM (that's short for Original Equipment Manufacturer), hopes to have a complete showcase system buit by the end of this year.
And then the entire industry can see how our process works. The oil operators can get the Pearl H2O system, and other OEMs can get their own license to build our system into theirs.
Our gratitude to the visionaries at Pearl H2O! You're going to have a heck of a head start on the rest.
To license, or to build?
A company has to decide what it is. We are clearly a licensing company.
The reason is simple: only by doing licensing deals can our technology quickly gain wide acceptance.
It's a profitable model for us. A company licenses us for part of their system, and we get a percentage of the whole thing.
What do we have to deliver? Innovation, expertise, quality control, training and certification.
That's a human cost, but not a huge capital cost.
What we do build...
In algae and in oil & gas, we're committed to building and selling our demonstrator units.
There's a small one for labs, and a bigger one for the field.
You can read all about it here. After that, it's licensing all the way.
Meet Bill Charneski on MoneyTV
Bill is our able General Manager of the Oil and Gas Division. He appeared on MoneyTV last week!
Check out the interview here. You can also see footage of our frack water cleanup process.
Bill is doing an outstanding job moving our technology into this brand-new, fast-moving sector.
Keep up the great work! This week is only the beginning...
Enjoy the rest of your week.
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)