OriginClear Presents Acquisition Roadmap for Water On Demand
New company presentation envisions additional resources in network management and manufacturing
“As governments are tasked with improving water quality, businesses are doing their part by treating and recycling their own water right on the spot,” said Riggs Eckelberry, OriginClear CEO and Chairman of Water On Demand. “This fast-growing trend requires two things: scaled-down technology, and capital. By uniting Modular Water with Water On Demand, we create the perfect synergy between the two. Water On Demand is now well positioned to lead the new water managed services segment; and the only company in that segment to accept investments from everyday investors.” (Graphic - Water On Demand Inc.)
The presentation is available by clicking this link on the Water On Demand site: Water On Demand with Modular Water Systems Q3-2023.
WOD cautions that while targets have been identified, the acquisitions of such targets may not occur, or may occur with different targets.
Accredited Investors interested in the Water On Demand investment opportunity, which may include a share of net profits from water services, can review the offering at www.water.originclear.com/offer.
In April, Water On Demand announced that it purchased Modular Water’s intellectual property and assets in exchange for 6 million shares of Water On Demand common stock. The assets include an assignment of OriginClear’s existing global master license to the five patents of inventor Daniel M. Early, P.E., who heads Modular Water, and the right to file patents for all additional inventions since 2018, when OriginClear created the unit.
Recently, OriginClear commissioned a valuation of the five existing Dan Early patents, which yielded a nominal value between
“This is an example of OriginClear successfully incubating and growing a healthy business over five years,” said Riggs Eckelberry, OriginClear CEO. “We anticipate this transaction will further benefit OriginClear shareholders as Water On Demand executes on its business plan.”
“As governments are tasked with improving water quality, businesses are doing their part by treating and recycling their own water right on the spot,” said Riggs Eckelberry, OriginClear CEO and Chairman of Water On Demand. “This fast-growing trend requires two things: scaled-down technology, and capital. By uniting Modular Water with Water On Demand, we create the perfect synergy between the two. Water On Demand is now well positioned to lead the new water managed services segment; and the only company in that segment to accept investments from everyday investors.”
On January 5, 2023, Water On Demand, Inc. executed a Letter of Intent (“LOI”) with Fortune Rise Acquisition Corporation, a
The parties are working together in good faith with their respective advisors to agree on a structure for the business combination most expedient to the consummation of the acquisition. Pursuant to the LOI, it is proposed that FRLA will acquire
Subject to meeting NASDAQ quantitative and qualitative listing requirements, upon the closing of the business combination, the newly-combined entity will trade publicly on Nasdaq under a new trading symbol.
The precise structure of the business combination, including the proportion of stock and/or cash consideration paid to the WODI equity holders, will be negotiated to meet the needs of all parties, including the management of WODI and key equity holders.
Previously, Water On Demand announced that it closed the acquisition of the equity interests of Fortune Rise Sponsor, LLC, a
FRLA is a blank check company incorporated in February 2021 as a
FRLA is a "shell company" as defined under the Exchange Act of 1934, as amended, because it has no operations and nominal assets consisting almost entirely of cash. FRLA will not generate any operating revenues until after the completion of its initial business combination, at the earliest. To date, FRLA’s efforts have been limited to organizational activities and activities related to its initial public offering as well as the search for a prospective business combination target.
About OriginClear
Once a government monopoly, clean water is going private. Local industries and communities are now treating and recycling their own water, 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, and now the innovative fintech, Water On Demand™, is fueling this movement. For the first time, Clean Water is becoming an investable asset, open to Main Street investors, with the potential for generational royalties. OriginClear® is the Clean Water Innovation Hub™ for both Water On Demand and Modular Water Systems™ – a leader in onsite, prefabricated systems made with sophisticated materials that can last decades. Get live weekly updates every Thursday by signing up at www.originclear.com/ceo.
For more information, visit the company’s website: https://www.originclear.com/
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No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230516005561/en/
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Source: OriginClear Inc.
