STUART, Fla., March 22, 2011 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a diversified water engineering and environmental services company, today announced that it and its majority owned subsidiary Ecosphere Energy Services, LLC have signed an exclusive technology licensing agreement with Hydrozonix, LLC to deploy its patented Ecosphere Ozonix technology in the U.S. oil and gas exploration and production industry. To maintain their exclusivity in the onshore oil and gas shale plays across the U.S., the agreement requires Hydrozonix to purchase a specified number of Ecosphere's new EF60 mobile high volume water treatment units each quarter during the initial 24 months. If Hydrozonix purchases the minimum number of units each quarter, Ecosphere will recognize approximately $44 million of revenue over the next 24 months, plus recurring performance-based royalties. Thereafter, Hydrozonix may maintain its exclusive license by meeting annual minimum purchases over the 20-year life of the Ecosphere Ozonix patents.
- "Our firm was selected by the U.S. Army Corps of Engineers to assist New York City and the FBI in the forensic investigation of the debris resulting from the World Trade Center terrorist attack. Later, the City engaged us to complete the forensic investigation of debris resulting from the reconstruction of the World Trade Center. Our work for the Corps resulted in both an Outstanding Performance Evaluation and the award of their highest civilian recognition, Contractor of the Year for 2002;"
- "Phillips and Jordan was also awarded the hardest hit area of the Gulf Coast (Orleans Parish) following the passage of Hurricane Katrina in 2006. Pursuant to a full and open competition (22 bidders), Phillips and Jordan was awarded a fixed-price $1 billion contract. We managed the demolition and debris removal for 71 square miles of Orleans Parish. Our effort earned us an Outstanding Performance Evaluation."