OriginOil, Inc. (OTC/BB: OOIL), the developer of a breakthrough energy production and water decontamination process for the oil and algae industries, announced today it has launched a separate licensing group to address the growing number of potential commercial applications for its Solids out of Solution TM technology outside the oil and gas industry. By licensing these secondary market opportunities, the company intends to sharpen its focus on the commercial deployment of its frack water cleanup system, CLEAN-FRAC TM, for oil and gas production.
“We are achieving substantial traction among algae producers looking to partner and commercialize OriginOil’s algae harvesting technology. At the same time, we are rapidly identifying new applications like aquaculture,” said Riggs Eckelberry, OriginOil CEO. “We are extremely motivated by these opportunities but also cautious of diluting our commercial efforts within the oil and gas sector. Cleaning up frack and produced water is proving to be the largest, most compelling market opportunity.”
“This new licensing group could allow the core team to devote more energy and resources to targeting this high growth industry,” added Eckelberry.
Alex Leshnick, currently OriginOil’s Director of Operations, will head the new Licensing Group as its General Manager, with Profit and Loss (P & L) responsibility.A registered patent agent, Leshnick is a seasoned veteran with a robust track record of successfully licensing technologies to both young companies and established corporations worldwide. In his previous position at the University of Southern California, Leshnick managed a portfolio of more than 150 technologies consisting of several hundred patents and patent applications. “Alex has successfully prosecuted the company’s patent portfolio for the past two years, and understands the market opportunities for OriginOil’s solids extraction technology and its revenue potential,” added Eckelberry. “We are confident that he will handle these added responsibilities with his usual speed and competence.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV