This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ecosphere Technologies Receives Sixth Patent To Reduce Chemicals During Hydraulic Fracturing Operations

STUART, Fla., Jan. 16, 2014 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), an innovative U.S. technology licensing and manufacturing company, today announced that the U.S. Patent and Trademark Office has issued a formal Notice of Allowance for a process patent for lowering the scaling tendencies in flowback water used in the exploration and production of oil and natural gas. This notice of allowance marks the sixth patent for Ecosphere's patented Ozonix ® water treatment technology issued by the U.S. Patent Office since 2010.

Ecosphere's patented Ozonix ® systems are currently being used by major energy exploration and production companies around the United States to reduce the amount of chemicals used during hydraulic fracturing (or "fracking") operations. Ecosphere's latest patent is directed to a technology that allows energy companies to save millions of gallons of water and reduce the amount of production wastewaters being disposed of in Class II injection wells. The advanced oxidation system covered by the allowable patent combines ozone, hydrodynamic and acoustic cavitation, and electro oxidation equipment in a process that causes colloidal suspension of precipitated hardness salts suitable for water recycling without the need for conventional liquid chemicals.

Dean Becker, Director and Intellectual Property Strategist for Ecosphere Technologies, stated, "This newest patent further reinforces that our timing for this technology in the oil & gas industry was right on point. Ecosphere's patent portfolio continues to expand, while at the same time the State of Florida House Agriculture and Natural Resources Subcommittee is supporting two bills that would require oil and gas companies to disclose to state agencies what chemicals are being used during oil and gas exploration. We believe this type of regulation will accelerate the industries desire to reduce chemicals being used during their operations."

Dennis McGuire, Chairman and CEO of Ecosphere Technologies, stated, "The latest receipt of our sixth Ozonix ® patent clearly shows that the U.S. Patent Office has recognized our early position as being a leader in the development of emerging advanced oxidation technologies. In 2008, Ecosphere pioneered the concept of treating hydraulic fracturing fluids with a combined advanced oxidation process that allows operators to leave reservoir brines in the fracturing fluid without having to remove them using costly evaporation and separation technologies. As a result of our patent protection and commercialization strategy, Ecosphere has manufactured and delivered more than 40 Ozonix ® systems for the U.S. oil and gas industry."

Fidelity National Environmental Solutions, a company in which Ecosphere owns approximately 31%, and its licensing partners have enabled oil and gas customers to treat, recycle and reuse over three billion gallons of water on more than 800 oil and natural gas wells, protecting $4 billion worth of well assets, and generating over $65 million in revenue.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs