OriginClear Dedicates COO Marchesello to Increased Revenue Focus
Company reports sales stable amid COVID-19 recovery
MCKINNEY, Texas--(BUSINESS WIRE)-- OriginClear Inc. (OTCQB: OCLN), a pioneering provider of water treatment solutions, announces that it has dedicated the duties of Chief Operating Officer Tom Marchesello to seeking to increase revenues from existing profit centers at its Texas headquarters.
“As we reported Friday in our annual report, we reduced Operating Losses and Operating Expenses, but Sales and Gross Profit declined from 2018,” said Riggs Eckelberry, OriginClear CEO. “Now that we find sales to be continuing amid the post-COVID-19 reopening, I have now directed Chief Operating Officer Tom Marchesello to focus 100% of his time on seeking to increase revenues with the manufacturing team throughout the rest of the year.”
With COO Marchesello focusing exclusively on improving revenue, CEO Eckelberry will manage all other company activities.
Also as disclosed in the annual report, the Company agreed to renew its 2018 license with inventor Daniel M. Early for an additional ten years, for the five patents covering packaged water treatment systems built into containers. We also gained the right to sublicense, and, with Mr. Early’s approval, to create ISO-compliant manufacturing joint ventures.
About OriginClear, Inc.
Water is our planet’s most valuable resource, and the mission of OriginClear is to provide breakthrough water treatment and conveyance products that effectively improve the quality of our planet’s waters by returning them to their original and clear condition and deliver the highest quality water to end-users. But 80% of all sewage in the world is never treated, and up to 35% of all clean water is lost in transit. This calls for self-help solutions at the point of use, a movement known as decentralized water treatment. Our mission is to enable this decentralized water revolution by providing rapid deployment, point-of-use water treatment and conveyance products and technologies that enable water independence, and help make clean water available for all. For more information, visit the company’s website at www.OriginClear.com.
Forward- Looking Statements
Matters discussed in this presentation contain forward-looking statements. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" 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. 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. There cannot be any assurance that our revenue will increase.
Source: OriginClear Inc.