Published on Nov 5, 2014
OriginOil (OOil) – Breakthrough Water Cleanup Technology for Oil and Gas
TechKnow’s reporter Crystal Dilworth visits OriginOil for an in-depth report. The report will air on 22 November, broadcasting to over 250 million homes worldwide. California’s Proposition 1, the Water Bond, which allocates over seven billion dollars to improve California’s water supply, passed by a two-thirds majority. Large budgets for water recycling and groundwater remediation offer an immediate opportunity for OriginOil’s large-scale, cost-effective cleanup technology.
OriginOil CEO, Riggs Eckelberry with Bob “Sully” Sullivan on the Big Biz Show:
0:40 Sully: Riggs Eckelberry, good to have you pal. This is a good time for OriginOil isn’t it?
Riggs: It is a great time for OriginOil. And we are not only selling but we’re also being media darlings!
Sully: Yeah, this is big news. Now I want to get to the Gulf Energy deal and I want to get to the sale, but something very large happened yesterday. I know you’re on national television every week with us, but this is small potatoes compared to what happened yesterday. Because, as Riggs said to me this morning, the brainiac showed up to their offices with cameras. What happened?
Riggs: Well, yeah, a small network with about 250 million households worldwide decided to show up and spend a few hours. It was actually last week. And it was amazing because Al Jazeera America really does in-depth reporting. They have a TechKnow program—there’s the beautiful Crystal who is actually a CalTech PhD, so watch out guys! And there we are being clappered away. They spent hours there and they covered the process both in the small system and also the big one that’s seen behind us.
Sully: Yes, and of course, this gives you some international coverage here. And I think one of the reasons is the Gulf Energy deal. Let’s talk about that.
2:12 Riggs: Yes, well the Gulf Energy deal is about $1.5 million dollars and it’s great that Al Jazeera is going to be covering this because, of course, it’s really going to help our business development in the Middle East region. But, you know, it’s a big machine, bigger than the one you see there in those pictures that will do 5,000 barrels per day. And they are excited as can be; it’s just amazing.
Sully: You know Riggs—by the way Riggs Eckelberry is CEO of OriginOil, stock symbol OOil, http://www.OriginOil.com is their website. You know, we did talk about the fact that only 5 months ago you showcased that Clean-Frac system and know you’ve got one of your first sales. I think it’s important to maybe uncover how that whole thing came about. What was the inception to fruition on that—how long did that take to get done; what was the sales cycle; what was the educational cycle?
3:11 Riggs: You know, it’s pretty much how you’d expect. It took Bill about 9 months to bring it through. He first showed up at a major oil conference in the Middle East in January and followed it up from there. And it’s interesting because we’re seeing a lot of uptake in both the Middle East and in East Asia. I’ll mention the fact that Nicholas and John Louis just came back from a major trip to China and Japan; will be reporting on that next week. But even more importantly, the U.S. is actually starting to catch up and in California we just had Proposition 1, the water bill passed, which is huge for us.
Sully: Let’s talk about that because I think it’s important—if you think about the propositions yesterday, and of course, there was Proposition 1 yesterday here in the state of California. And it talked about…well it was strongly backed by Gov. Jerry Brown…it authorizes the state to borrow $7.5 billion dollars to make some comprehensive improvements in the water storage and water supply, and it represents California’s very first major investment in water and the infrastructure. So that passed yesterday resoundingly. What does that mean to you guys Riggs?
7:12 Riggs: Well, it helps us. There’s two major pieces. The first piece is…of course, the dams, forget about the dams, we’re not building dams, but the state will need a lot more before they’re done, as the snow pack goes away. But there’s a major piece for water recycling and reusing water and there’s another one for ground water remediation. Now our technology makes it possible to decontaminate vast quantities of water in a way that could not be done before. So people no longer have to throw up their hands and go “well the aquifers are ruined.” No, the actually can be fixed at the point of usage, cleaning it up in real-time and that’s a huge promise for rescuing California’s water supply.