STUART, Fla., June 13, 2012 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH) a diversified water engineering, technology licensing and environmental services company, today announced that it has appointed Ocean Tomo as its global licensing advisor. Ocean Tomo, an industry leader in intellectual property valuation, research, investment, risk management and transactions will work closely with Ecosphere to assist the Company in developing and implementing a global licensing program for its patented Ozonix technology and related products.
"We are pleased to announce that Ocean Tomo, one of the most respected intellectual property consulting firms in the industry, will be joining our team," stated Charles Vinick, Chairman and CEO of Ecosphere Technologies. "With our 2011 Ozonix license to Hydrozonix, Ecosphere has successfully licensed the onshore oil and gas hydraulic fracturing market in the U.S. It is now the right time to engage Ocean Tomo to help Ecosphere strategically realize the value we have created in the Ozonix technology for use in hydraulic fracturing in oil and gas exploration globally, as well as for the treatment of industrial wastewater in other applications in the United States and throughout the world."
Roy D'Souza, Managing Director of Ocean Tomo and head of the firm's Valuation Practice, added, "Ocean Tomo is excited to be working with Ecosphere. Ecosphere has developed a robust intellectual property portfolio of chemical-free wastewater treatment solutions and has also captured a first movers' advantage in the treatment of produced and flowback waters in the hydraulic fracturing industry. Ecosphere has an inventory of patents, brands, trademarks and trade secrets that we believe may have significant long-term value. We look forward to leveraging our teams' experience and global reach to generate new licensing opportunities for the Company in the U.S. and throughout the world."
"The global need to preserve vital water resources drives the increasing requirements for technologies that use less chemicals in treating industrially-produced water and simultaneously enable the recycling of industrial wastewater," Vinick continued. "The Ozonix technology track record of treating over 1.8 billion gallons of water and eliminating 900,000 gallons of liquid biocides on 530 wells in the domestic oil and gas industry positions Ecosphere to now carry our Ozonix technology into other markets like mining, coal-fired power plants, pulp and paper plants, ballast water, and municipal water treatment, among others. We believe that Ocean Tomo can help us maximize the value of our patented technology for our shareholders."
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 1.8 billion gallons of water on approximately 530 oil and natural gas wells in major shale plays across the country since 2008.
For more information, please visit www.EcosphereTech.com.
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About Ocean Tomo, LLC
Established in 2003, Ocean Tomo, LLC, is the Intellectual Capital Merchant Banc™ firm. The company provides financial products and services related to intellectual property, including expert testimony, valuation, research, ratings, investments, risk management strategy and transactions. Ocean Tomo assists clients – corporations, law firms, governments and institutional investors – in realizing Intellectual Capital Equity® value broadly defined.
Headquartered in Chicago, Ocean Tomo has offices in Greenwich, Houston, Orange County and San Francisco. Subsidiaries of Ocean Tomo include: Ocean Tomo Risk Management, LLC; Ocean Tomo Asset Management, LLC; OTI Data Networks, LLC; Patent Marking, LLC; and Ocean Tomo Capital, LLC – publisher of the Ocean Tomo 300® Patent Index family. Ocean Tomo is the founder of the Intellectual Property Exchange International (IPXI), Inc. as well as the exclusive licensee and distributor of the PatentRatings® system.
For more information, please visit www.OceanTomo.com.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements including the realization of value created by the Ozonix technology, leveraging the global reach and experience of Ocean Tomo and Ecosphere to generate new licensing opportunities, positioning the Ozonix technology into other markets and our belief regarding maximizing the value of our technology. 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 the ability of Ecosphere or a partner to expand the Ozonix technology outside the United States onshore energy market, reluctance of businesses to change to new technologies, international regulations which affect hydraulic fracturing and the ability to locate a partner to finance the use of our technology in other markets and our ability to reach definitive agreements with one or more partners.