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OriginClear Doubles Purchase Orders In First Half 2022
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
OriginClear Inc (OTC Pink: OCLN) announced a remarkable performance in the first half of 2022, with combined purchase orders exceeding $5 million, more than double the volume from the same period in 2021. The increase in orders aligns with a 55% revenue growth in Q1 compared to the previous year. CEO Riggs Eckelberry expressed pride in the operational divisions' performance and highlighted attempts to expand staff to maintain service quality. The company aims to capitalize on the U.S. water infrastructure crisis, promoting self-reliant water systems.
Positive
Combined purchase orders surpassed $5 million in H1 2022, more than double from H1 2021.
Revenue increased by 55% in Q1 2022 compared to Q1 2021.
Ongoing high demand for water treatment systems.
Negative
None.
Indicates a continuation of 50% increased revenues in Q1
CLEARWATER, Fla.--(BUSINESS WIRE)--
OriginClear Inc. (OTC Pink: OCLN), the Clean Water Innovation Hub™, announces that it booked combined purchase orders in excess of $5 million in the first six months of 2022, more than double the order volume for the comparable period in 2021.
OriginClear commercial and industrial use water treatment systems like this reverse osmosis advanced filtration system are in highest ever demand. The company's Texas-based, custom build, Progressive Water manufacturing division and its Virginia-based, standardized and prepackaged, Modular Water Systems™ division have sustained months long and record-breaking sales runs. (Photo: OriginClear)
While not an official measure, purchase orders indicate future revenue potential. This was seen in Q1 of this year, when increased purchase orders in the second half of 2021 contributed to a 55% increase in this year’s first quarter revenue, compared to 1st quarter 2021.
“We’re proud of both our operating divisions, which both turned in large increases in purchase orders,” said Riggs Eckelberry, OriginClear CEO. “Both teams are working flat-out, and we are beefing up our staff to ensure continued excellent service.”
About OriginClear Inc.
OriginClear leads the self-reliant water revolution, democratizing water investment by developing a marketplace to connect investors with water projects; and commercializing modular, prefabricated, filter-free advanced systems for faster sanitation worldwide. With America’s broken infrastructure and 100 billion dollars of government spending to fix the nation’s 150,000-plus water systems, OriginClear is helping them “cut the cord”, by developing outsourced pay-per-gallon programs and a future digital currency to streamline payments. Our line of Modular Water products and systems is key to the self-reliant water treatment revolution as they create “instant infrastructure” – fully engineered, prefabricated and prepackaged systems that use durable, sophisticated materials.
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 laws.
