STUART, Fla., Oct. 4, 2012 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a diversified water engineering, technology licensing and environmental services company, today announced that the Company and its majority-owned subsidiary, Ecosphere Energy Services, LLC, completed manufacturing, acceptance and delivery of two Ozonix EF80 units to Hydrozonix, LLC in the third quarter of 2012. Additionally, Ecosphere received the purchase order for units 11 and 12 from Hydrozonix. The Company has commenced production of units 11 and 12, and expects them to be delivered in the fourth quarter of 2012.
"I am pleased to announce another delivery to Hydrozonix under our long-term contract," stated Charles Vinick, Chairman and CEO of Ecosphere Technologies. "Hydrozonix now has ten Ozonix EF80 units for their U.S. oil and gas exploration customers, eliminating biocides and scale inhibitors as well as enabling 100% recycling of flowback and produced waters."
Vinick further stated, "Since initiating our license agreement, Hydrozonix has treated more than 14 million barrels (nearly 600 million gallons) of water using Ecosphere's patented chemical-free Ozonix technology. With Hydrozonix, we are well-positioned to continue our growth strategy."
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a diversified water engineering, technology licensing and environmental services company that designs, develops, and manufactures wastewater treatment technologies for a variety of industrial markets. The Company provides environmental services and technology solutions for large-scale, sustainable applications across industries, nations and ecosystems.
Ecosphere is currently driving clean water innovation with its patented Ozonix advanced oxidation technologies and mobile, low-maintenance water treatment systems. Ecosphere's patented Ozonix technology is a high-volume, advanced oxidation process designed to recycle water while reducing liquid chemicals used during water treatment applications. A recipient of Frost & Sullivan's 2012 North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment, Ecosphere has enabled oil and gas customers to recycle and reuse over 2 billion gallons of water on approximately 600 oil and natural gas wells in major shale plays around the United States since 2008.
For more information, please visit www.EcosphereTech.com.
The Ecosphere Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12214
Hydrozonix, LLC provides mobile, high rate, environmentally-friendly water treatment solutions to the oil and gas exploration and production industry. Hydrozonix is a strategic alliance between the principals of Phillips and Jordan, Inc., the Siboney Group, and PBA Holdings.
For more information, please visit www.Hydrozonix.com.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including the scheduled delivery of the units in the fourth quarter of 2012 and being well positioned to continue our growth strategy.
Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include a decline in the price of natural gas, unexpected delays and problems in manufacturing the units including delays in the receipt of, or problems with, parts from component manufacturers, unexpected issues in our working relationship with Hydrozonix, and federal or state regulations which adversely affect hydraulic fracturing.
Further information on our risk factors is contained in our filings with the SEC, including our Form 10-K for the year ended December 31, 2011. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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Source:Ecosphere Technologies, Inc.