STUART, Fla., July 15, 2014 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a U.S. technology licensing and innovative manufacturing company, today announced that it has signed an exclusive technology licensing and equipment purchase agreement with Brasil Clean Energy, a Brazilian environmental services company, to deploy its patented Ozonix® water treatment technology for the Food and Beverage industry in Brazil.
Under the terms of the agreement in order to maintain exclusivity, Brasil Clean Energy is required to purchase a minimum of $5 million worth of Ozonix® equipment during the next two years, plus a royalty payment based on usage or revenue, with a minimum amount earned per machine. Brasil Clean Energy has funded the purchase of its first Ozonix® water treatment system and manufacturing has begun at Ecosphere's corporate headquarters in Stuart, Florida.
George Chapas, Director of New Business Development for Ecosphere Technologies, stated, "Brasil Clean Energy is one of our newest Ozonix® technology licensing partners, and we have been cultivating and working closely with them for over a year on the feasibility of introducing our patented Ozonix® technology into the Food and Beverage industry in Brazil."Chapas continued, "This agreement marks the beginning of our expansion outside of the oil and gas market and demonstrates continued demand for a cost-effective, patented and proven solution for replacing chemical biocides and managing the large volumes of water required for a wide variety of industrial processes. We expect that several international companies will soon recognize the benefits of Ecosphere's patented Ozonix® technology for the Food and Beverage industry, resulting in additional Ozonix® licenses that are currently available for numerous other countries and regions around the world." Magno Damasceno, Founder and CEO of Brasil Clean Energy, said, "We are excited to exclusively license Ecosphere's patented Ozonix® technology for the Food and Beverage industry in Brazil. We look forward to providing our clients' with high-volume, chemical-free water treatment and recycling services in a cost effective, safe and environmentally sound manner. We believe this is the best available technology in the world and look forward to offering innovative water management solutions to our clients' using Ecosphere's patented Ozonix® technology as Ecosphere has been able to position itself as a market leader in the water treatment and disinfection space."