STUART, FL -- (Marketwired) -- 12/07/15 -- Ecosphere Technologies, Inc. (OTCQB: ESPH), a technology development and intellectual property licensing company, today announced that it has signed a Letter of Intent with Abandoned Mine Cleanup LLC. ("AMC"), a Company formed by current Ecosphere Board Member Dean Becker, to deploy its multi-patented OZONIX® water treatment technology on an exclusive basis in the Mining Industries of North and South America.
Under the terms of the signed Letter of Intent, AMC has committed to pay Ecosphere Technologies a $5 Million technology licensing fee as well as ongoing royalty payments on all OZONIX® related gross revenue. AMC will also be required to purchase two (2) OZONIX® units, specifically designed for the Mining industry, each year until AMC has paid Ecosphere $20 Million in equipment purchase orders. Lastly, Ecosphere will own a 10% interest in AMC and has agreed to assist as needed in further developing complementary technologies and solutions for its business. The Letter of Intent is subject to execution of a definitive license agreement and payment of the first installment of the license fee and a down payment for the first unit to Ecosphere by March 31, 2016.
In addition to receiving the exclusive rights for Abandoned Mine Water reclamation, AMC will be able to use Ecosphere's patented OZONIX® technology to treat waters from Acid Mine Drainage (AMD), Hydrogen Sulfide (H2S) in Mine Tailing Ponds and Mine Leachate/Recovery. AMC is also authorized to deploy OZONIX® to be used as a highly oxidative leaching agent during Hydrometallurgical Extraction processes, to remove sulfurs and irons and to replace the conventional use of toxic lixiviation chemicals like cyanides that have been banned in many states in the U.S. AMC will also provide clean drinking water to remote mining sites that will employ the OZONIX® technology. In many of these situations, AMC will help to eliminate the use of liquid chemicals, further reducing the Health, Safety and Environmental (HSE) issues associated with the transportation, handling and consumption of toxic chemicals.
"Following the departure of my 10-year position as CEO of ICAP Patent Brokerage, the world's largest intellectual property brokerage firm, I have decided to focus a significant portion of my time on deploying environmental technologies," said AMC Chairman, Dean Becker. "With over 23 approved and pending United States patents and 5+ Billion gallons of water treated to date, OZONIX® is the most proven, high-volume solution for treating contaminated waters without the use of toxic chemicals. I am honored to have the opportunity to deploy this environmentally-friendly technology in the Mining industries of North and South America."
Becker continued, "With an estimated 50,000 Abandoned Mines identified in the U.S. alone and estimated cleanup costs ranging from $36-72 Billion, I look forward to continuing my work with the Ecosphere team and am confident in our ability to provide mining companies with a cost-effective solution to help meet and exceed the ever increasing water, environmental and safety regulations."
For a general overview of the OZONIX® application for Mining, please visit: http://www.ecospheretech.com/water-treatment-services/mining-wastewater-recycling
"OZONIX® has been tested and proven to treat a wide range of contaminants that are found in the mining industry including Hydrogen Sulfide (H2S), Heavy Metals and Naturally Occurring Radioactive Materials (NORM)", stated Dennis McGuire, Chairman and CEO of Ecosphere Technologies. "In February of 2009, Ecosphere completed an independent test and evaluation project for Newfield Exploration Mid-Continent, Inc. in conjunction with The Benham Companies to successfully receive a permit approval from the Corporation Commission of Oklahoma to discharge OZONIX® treated frac flowback waters to the ground. This test has led to the Company spending a considerable amount of time and resources developing a comprehensive line of OZONIX® equipment that can now be used in the mining industry to help companies, not only in North and South America, but worldwide."
McGuire added, "Mr. Becker has spent the last 10 years of his life bringing the value of U.S. Patents to the forefront of American business, working closely with Fortune 500 companies as well as NASA to unlock the value of their intellectual property portfolios. Mr. Becker will now commit the next decade of his career to protecting the environment using Ecosphere's proven and patented water treatment technologies. By licensing the patented OZONIX® technology for Mining applications in North and South America, Mr. Becker can become one of the worlds foremost Environmental Technologists in a very short time frame."
Market Size -- Abandoned Mine Lands
According to the Bureau of Land Management (BLM), as of January 2015, there are nearly 50,000 known U.S. sites in the BLM Abandoned Mine Lands (AML) database. Approximately twenty to thirty percent of AML sites pose safety hazards, and approximately five to ten percent pose environmental hazards. In addition, there are an estimated 100,000 to 500,000 AML sites yet to be fully identified or characterized. The BLM estimates that approximately five percent of abandoned mines are causing or could cause environmental damages, mostly water pollution. Estimated cleanup costs vary widely, from $36 Billion to $72 Billion, from a variety of sources.
About Ecosphere's Multi-Patented OZONIX® Technology
Since 2008, OZONIX®, a revolutionary Ozone-Based Advanced Oxidation Process (AOP), has enabled customers to treat, recycle and reuse over 5 billion gallons of water around the United States, while eliminating millions of gallons of liquid chemicals from various industrial operations. With expanded customer adoption in the United States, Canada, Brazil and most recently Malaysia, Ecosphere's customers and licensees are treating waters in the Oil and Gas, Food & Beverage, Landfill Leachate, Marine Port & Terminal and Industrial Wastewater treatment industries. The Company has also manufactured and deployed approximately 60 OZONIX® machines to date for a wide variety of customers and licensing partners.
Ecosphere's patented OZONIX® technology is protected by 23 approved and pending United States patents including but not limited to U.S. Patent No's. 7,699,994; 7,699,988; 7,785,470; 7,943,087; 8,318,027; 8,721,898; 8,858,064; 8,936,392; 8,906,242; 8,968,577; 8,999,154; 9,034,180; 9,169,146.
For more information on Ecosphere's patented OZONIX® technology, please visit http://www.ecospheretech.com/environmental-engineering-technologies/ozonix.
To download a PDF brochure on Ecosphere's patented OZONIX® technology, please visit https://d1io3yog0oux5.cloudfront.net/esph2/db/Fact+Sheets/5854/file/03.2015_Ecosphere_Ozonix_Technology.pdf.
For more information on Licensing Opportunities for Ecosphere's patented OZONIX® technology, please visit http://www.ecospheretech.com/environmental-engineering-technologies/licensing-opportunities.
About Abandoned Mine Cleanup
Abandoned Mine Cleanup, LLC. is a newly formed entity, founded by serial entrepreneur Dean Becker. Having sold hundreds of Millions of dollars in next generation technologies throughout his career and widely credited with creating the markets for general consumer paging and intellectual property auctions, Mr. Becker is assembling a team of experts and patented technologies, including but not limited to Ecosphere's patented OZONIX® water treatment technology, to clean up Abandoned Mine Lands (AML) throughout North and South America.
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCQB: ESPH) is a technology development and intellectual property licensing company that develops environmental solutions for global water, energy and industrial markets. We help industry increase production, reduce costs, and protect the environment through a portfolio of unique, patented technologies: technologies like Ozonix®, the Ecos PowerCube® and our recently announced Ecos GrowCube™, which are available for exclusive and nonexclusive licensing opportunities across a wide range of industries and applications throughout the world.
For more information, please visit www.EcosphereTech.com
For investor related inquiries OR to stay informed of news and events, join Ecosphere's e-mail list by visiting us at http://www.ESPH-IR.com.
Company, Press and Media Relations:
Corey McGuire, Director of Marketing
Ecosphere Technologies, Inc.
Phone: (772) 287-4846
Source: Ecosphere Technologies, Inc.