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OriginOil to License CLEAN-FRAC Process to Pearl H2O
October 19, 2012
riginOil, Inc. has announced that it has signed its first agreement to license OriginOil’s proprietary CLEAN-FRAC™ process to oil and gas water treatment firm Pearl H2O.
The agreement is the first in the company’s “Powered by OriginOil™” strategy of deploying their unique technology across global markets to Original Equipment Manufacturers (OEMs) who will integrate it seamlessly into their systems and under their own brand.
Pearl H2O intends to integrate OriginOil’s CLEAN-FRAC as the first step in its own continuous-process oil and gas frack water recovery and cleanup system. Pearl plans to deploy a showcase system before year-end, which is expected to result in first licensing revenues to OriginOil in early 2013.
Pearl H2O LLC is a newly funded Fountain Valley, California-based company founded by Pacific Advanced Civil Engineering (PACE)’s shareholders to develop new technology, primarily in the water and energy fields, and bring commercial viable solutions to the marketplace.
Under the terms of the OEM agreement, OriginOil has granted a non-exclusive license to Pearl H2O to bundle OriginOil’s high-speed and chemical-free CLEAN-FRAC technology with Pearl H2O’s frac water cleanup system, with royalties as a share of overall revenue paid to OriginOil.
OriginOil’s CLEAN-FRAC process is based on the company’s Solids Out of Solution™ technology that efficiently removes oils, suspended solids, insoluble organics and bacteria from produced or “frac flowback” water, on a continuous flow basis and without the use of chemicals.