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STUART, Fla., June 18, 2014 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a U.S. technology licensing and innovative manufacturing company, today announced that the Company has engaged ICAP Patent Brokerage to monetize its patented Ozonix® and Ecos PowerCube® technology portfolios. ICAP PB will be the Company's exclusive technology broker, tasked with successfully monetizing both technologies across a wide variety of industries and applications on a global basis.
Since 2008, Ecosphere's patented Ozonix® water treatment technology has experienced significant commercial success for the Company, generating approximately $70 million in revenue in the U.S. hydraulic fracturing market and treating more than 4 billion gallons of water for approximately 1,000 oil and natural gas wells for Fortune 500 companies around the United States.
Consistent with the Company's strategy of licensing its patented, commercialized technologies to strategic partners in a given industry, Ecosphere believes that its patented Ozonix® water treatment technology will have the greatest impact in the hands of well-capitalized partners as it expands beyond the energy market. In the coming weeks, a number of licensing and manufacturing opportunities and specific fields-of-use for various regions and countries around the world will become available through ICAP PB including but not limited to mining, agriculture, food and beverage, industrial, marine and municipal wastewater treatment.
Ecosphere has also engaged ICAP PB to monetize its innovative and recently patented Ecos PowerCube® technology, which is the world's largest mobile solar powered generator. The Company has worked for seven years to receive the Ecos PowerCube® patent and believes there are numerous commercial applications for the technology including but not limited to military, humanitarian relief, emergency/disaster preparedness, remote habitation, industrial utilities, off-grid telecommunications, solar powered wireless Internet, survivalists & preppers, construction, agriculture & ranching, temporary entertainment events & venues, equipment rental & leasing as well as remote off-grid facilities and research stations.
The Company has completed manufacturing of the first Ecos PowerCube® and is ready to begin demonstrations.
"We are pleased to partner with ICAP Patent Brokerage to license and monetize our patented Ozonix® and Ecos PowerCube® technology portfolios." said Dennis McGuire, Chairman and CEO of Ecosphere Technologies. "We are looking forward to leveraging ICAP Patent Brokerage's extensive experience in working with high-growth companies and its industry leading intellectual property transaction advisory services in our effort to maximize shareholder value."
Dean Becker, CEO of ICAP Patent Brokerage and Director of Ecosphere, stated, "We are excited to be working with Ecosphere Technologies. Intellectual property is a unique asset requiring significant business, technical, marketing, and legal expertise in order to successfully complete transactions. Our veteran brokers have more than 35 years of experience in monetizing and leveraging intellectual property assets, drawing on an extensive knowledge of the marketplace across multiple sectors throughout the United States, Asia, and Europe."