OriginOil (OOIL) Gets Its First Pay-Per-Barrel Agreement for a Water Treatment System
OriginOil, Inc. (OTCMKTS:OOIL) reported that it has signed its first pay-per-barrel agreement with Industrial Systems, Inc. for a water treatment system integrating OOIL's process as the first stage of treatment.
Based on the signed contract, OOIL has scheduled construction of an Electro Water Separation(TM) Petro Model P160, capable of processing up to 160 liters (65 gallons) per minute. OOIL's finance partner, VenPro Partners, will provide the capital for the construction of the system.
The system is designed to treat frac flowback or produced water for immediate reuse and will be built on skids so that it can easily be moved from site to site.
According to Industrial Systems, Inc., after researching the various water treatment systems on the market, the company selected Electro-Coagulation as the best process, and OOIL's as best-performing among the choices, which include Halliburton, Ecosphere and others.
Located in Delta, Colorado, Industrial Systems, Inc. provides manufacturing, construction services, and solutions to the mine, oil & gas, and power industries in the US. For over twenty years, it has provided major capital engineering, procurement, manufacturing, project management, and construction services for multi-million dollar projects. A major portion of its business is design and manufacturing of permanent and portable tanks.
The company has moved beyond the US recently: In 2011, Tokyo Electric Power Co. (TEPCO) called on ISI to assist in the emergency water cleanup at the Fukushima nuclear site. ISI designed and manufactured three major heavy skid structures which contained pumping, filtering, and all controls. During the project, the company employed over 110 additional employees on an around-the-clock emergency basis.
According to consulting firm PricewaterhouseCoopers, "The shale revolution is projected to require more than $5 trillion in investment over the next 20 years in the US alone--largely directed to the upstream and midstream sectors."
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae, and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation„ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. And in aquaculture, OriginOil is helping improve yields and making seafood healthier by dramatically reducing the levels of toxic ammonia and bacteria in water.
More about OriginOil, Inc. (OTCMKTS:OOIL) at http://www.originoil.com">http://www.originoil.com
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Full Disclaimer at http://www.pennyomega.com/disclaimer">http://www.pennyomega.com/disclaimer
Based on the signed contract, OOIL has scheduled construction of an Electro Water Separation(TM) Petro Model P160, capable of processing up to 160 liters (65 gallons) per minute. OOIL's finance partner, VenPro Partners, will provide the capital for the construction of the system.
The system is designed to treat frac flowback or produced water for immediate reuse and will be built on skids so that it can easily be moved from site to site.
According to Industrial Systems, Inc., after researching the various water treatment systems on the market, the company selected Electro-Coagulation as the best process, and OOIL's as best-performing among the choices, which include Halliburton, Ecosphere and others.
Located in Delta, Colorado, Industrial Systems, Inc. provides manufacturing, construction services, and solutions to the mine, oil & gas, and power industries in the US. For over twenty years, it has provided major capital engineering, procurement, manufacturing, project management, and construction services for multi-million dollar projects. A major portion of its business is design and manufacturing of permanent and portable tanks.
The company has moved beyond the US recently: In 2011, Tokyo Electric Power Co. (TEPCO) called on ISI to assist in the emergency water cleanup at the Fukushima nuclear site. ISI designed and manufactured three major heavy skid structures which contained pumping, filtering, and all controls. During the project, the company employed over 110 additional employees on an around-the-clock emergency basis.
According to consulting firm PricewaterhouseCoopers, "The shale revolution is projected to require more than $5 trillion in investment over the next 20 years in the US alone--largely directed to the upstream and midstream sectors."
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae, and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation„ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. And in aquaculture, OriginOil is helping improve yields and making seafood healthier by dramatically reducing the levels of toxic ammonia and bacteria in water.
More about OriginOil, Inc. (OTCMKTS:OOIL) at http://www.originoil.com">http://www.originoil.com
********************************
Full Disclaimer at http://www.pennyomega.com/disclaimer">http://www.pennyomega.com/disclaimer