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STUART, Fla., Aug. 27, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative U.S. manufacturing company, today announced that William P. Foley, II, Chairman of Fidelity National Financial, Inc. (NYSE:FNF), has been elected as Chairman of Fidelity National Environmental Solutions, LLC (FNES), formerly Ecosphere Energy Services, LLC (EES).
"The new name is more than just a reflection of our increased ownership stake in the company," said William P. Foley, II, Chairman of FNF. "It represents FNF's commitment to protecting vital water resources and becoming the leading provider of environmental water treatment solutions to the global energy industry."
John Kuelbs, former Chairman of EES, has been elected Vice Chairman of FNES. Mr. Kuelbs is credited with recognizing the early vision of Ecosphere and played an essential role in bringing together the original investors of FNES. Kuelbs stated, "I am happy to see that FNF, a Fortune 500 company, has continued to increase its ownership position and will now be able to deploy the resources necessary to take FNES to the next level. It is an exciting time for the company."
Robert Cathey, CEO of FNES stated, "Chairman Foley brings the experience and resources to the company that will allow us to rapidly expand and broaden our operations in the oil and gas sector and also begin to explore the many other opportunities within the energy field for the Ozonix® technology. I look forward to working with Mr. Foley and the Board of Directors to maximize our ability to use this proven, non-chemical and environmentally friendly process to treat contaminated waters around the world."
Dennis McGuire, Chairman and CEO of Ecosphere Technologies (ETI) said, "It is very rewarding to have Bill Foley and FNF step forward to take on such an active role in Fidelity National Environmental Solutions. ETI's business model of inventing and patenting environmental technologies, commercializing those technologies in their respective fields of use, and then licensing the proven technology to world class companies like FNF has now been realized in the energy sector."