STUART, Fla., Jan. 6, 2014 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), an innovative U.S. technology licensing and manufacturing company, today announced that Fidelity National Environmental Solutions ("FNES"), a company in which ESPH holds a 31% interest, has signed an exclusive technology licensing and equipment purchase agreement with Hydrosphere Energy Solutions, a Canadian Corporation, to deploy its patented Ozonix ® water treatment technology in the territory of Alberta and North East British Columbia, Canada. Under the terms of the agreement, Hydrosphere Energy Solutions is required to purchase:
- One (1) Ozonix® EF10M unit for immediate delivery.
- Eight (8) Ozonix® EF10 units within the first 12 months.
- One (1) Ozonix® EF80 unit within the first 12 months.
- A minimum of two (2) Ozonix® EF80's within 24 months following the delivery of the first purchased Ozonix® units.
Scott Donahue, CEO of Hydrosphere, stated, "Hydrosphere is excited to exclusively license the Ozonix ® technology from FNES in our market and to provide our clients' with recycled flowback and produced water in a cost effective, safe and environmentally sound manner. We believe this is the best technology available in the world and look forward to offering innovative water management solutions to our clients' using the Ozonix ® technology as a market leader in the space."Ecosphere's patented Ozonix ® EF10, EF10M and EF80 units are mobile advanced oxidation systems specifically designed, developed and manufactured by Ecosphere to treat 100% of the water required for oil and natural gas production. Built for increased flexibility and to maximize utilization, the Ozonix ® EF10, EF10M and EF80 can be used to pre-treat water needed for hydraulic fracturing (or "fracking") operations or for the post-treatment of flowback and produced waters at pond sites or fixed facilities. The EF10 and EF10M are capable of processing flow rates up to 10 barrels per minute (420 GPM), while the EF80 is capable of processing high variable flow rates up to 80 barrels per minute (3,360 GPM) or more than 4 million gallons per day. For more information, please visit http://www.ecospheretech.com/divisions/fidelity-national-environmental-solutions/wastewater-treatment-frac-tanks/ecosphere-ef10 About Fidelity National Environmental Solutions Fidelity National Environmental Solutions, LLC, a leading water treatment provider to the energy services sector, has an exclusive field-of-use license for Ecosphere's patented Ozonix ® technology for global energy applications including, but not limited to, onshore and offshore oil and natural gas exploration and production, power generation, refineries and coal. FNES currently provides energy exploration companies with mobile wastewater treatment equipment to eliminate harmful chemicals from hydraulic fracturing operations around the United States. For more information, please visit http://www.ecospheretech.com/divisions/fidelity-national-environmental-solutions About Hydrosphere Energy Solutions Please visit http://hydrospherecorp.ca/ About Ecosphere Technologies Ecosphere Technologies, Inc. (OTCBB:ESPH) is an innovative U.S. technology licensing and manufacturing company that develops environmental solutions for global markets. We help industry increase production, reduce costs, and protect the environment through a portfolio of more than 35 patented and patent-pending technologies: Technologies like Ozonix ® and Ecos PowerCube ®, which are licensable across a wide range of industries and applications throughout the world. For more information, please visit http://www.ecospheretech.com To receive timely information on Ecosphere Technologies, sign up for Ecosphere's email news alert system at http://www.ESPH-IR.com.
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