A customizable solution to future-proof wastewater infrastructure saving millions in capital costs
CLEARWATER, Fla.–(BUSINESS WIRE)–$OCLN #instantinfrastructure–Water On Demand (WODI), a subsidiary of OriginClear, Inc. (OTC Other: OCLN), today announces that its Modular Water Systems™ (MWS) division delivered its highly-durable EveraMOD™ pump station package to a large-scale wastewater upgrade project in Pennsylvania. Capping a series of successfully completed EveraMOD pump station installations, the latest project demonstrates strong market traction and product fit.
In Big Beaver Borough, Pennsylvania, a failing wastewater pump station was past its useful life. Previous efforts to replace it were met with multiple roadblocks including internal approvals, vendor coordination issues, and permitting problems. Additionally, a looming deadline tied to federal funding meant that the project had to be completed on time, with no room for error. Modular Water Systems met this challenge with a one-stop EveraMOD wastewater pump station package that offered faster lead times and cost-effective implementation compared to traditional construction methods.
“We believe that Modular Water’s packaged offerings serve as a one-stop solution for our customers, engineers, contractors, and end-users,” said Russ Huffmyer, President and CEO of V-Systems, Inc, and MWS manufacturer representative. “This approach helps reduce scope gaps, avoid delays from coordinating multiple vendors, and provides a single point of contact, streamlining the entire project from the conceptual planning phase, all the way through commissioning.”
America’s wastewater infrastructure faces a growing crisis. Traditional concrete structures used by wastewater utility systems are falling into disrepair at an alarming rate due to age, corrosion and other factors. By contrast, EveraMOD pump stations – manufactured using structurally reinforced thermoplastics (SRTP) – are designed to last up to 100 years, ensuring reliable, cost-effective service for municipal, industrial, and commercial wastewater utility applications.
“EveraMOD offered the turnkey solution to replace a failing lift station,” said Alma Rettinger, Project Engineer for the Borough. “The prefabricated system met the Client’s material, structural, and functional specifications to allow for ease of installation and integration to the existing system.”
This important project further showcases how Modular Water Systems’ innovative, packaged approach can deliver critical infrastructure solutions quickly and efficiently.
For more information on the EveraMOD capabilities, visit https://evm.modularwater.com/mod.
About Water On Demand, Inc.
Once a government monopoly, the business of treating and reusing sewage water is going private. Local industries and communities are now treating-in-place, helping to reduce the burden on municipal systems and save on fast-rising water rates while also responding to the challenge of climate change. That’s good for business and good for sustainability. Now, the innovative fintech, Water On Demand™, is enabling clean water to become an investable asset, open to main street investors, with the potential for generational royalties. OriginClear has consolidated under Water On Demand, its Modular Water Systems, the downsized technology that businesses need for on-site water treatment and recycling, and Progressive Water Treatment, a 25-year veteran engineered solutions subsidiary based in Sherman, Texas, with its Water On Demand business. This combination adds technology and the ability to execute on larger and more prestigious installations.
On October 23, 2023, WODI entered into a Business Combination Agreement (the “BCA”) with FRLA. The transaction represents a pro forma combined equity valuation of approximately $72 million, assuming no further redemptions of FRLA public shares by FRLA’s public shareholders. The agreed upon acquisition valuation of WODI is $32 million, based upon a 3.2x multiple of its 2022 revenue.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
About OriginClear
OriginClear® is the Clean Water Innovation Hub™, dedicated to launching new ventures such as Water On Demand™ and Modular Water Systems™ – a leader in onsite, prefabricated systems made with sophisticated materials that can last decades. OriginClear subsidiary Progressive Water Treatment merged with Water On Demand and Modular Water Systems in a combination known as Water On Demand Inc., intended to create better enterprise value for a potential merger. Tune in on OriginClear’s Legends of Water monthly broadcast by signing up at www.originclear.com/ceo.
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Safe Harbor Statement
Matters discussed in this release contain forward-looking statements. When used in this release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” “plans” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization, and if or when the Company will receive and/or fulfill its obligations under any purchaser orders. Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable law.
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