OriginClear Inc (OTCMKTS:OOIL) is the new name of OriginOil as the company positions itself to provide services in the water cleanup market. The change in name was effective immediately. The company announced that there is no change in the ticker symbol ‘OOIL.’
Riggs Eckelberry, the CEO of OriginClear, said that as the company has grown, the management has learned that the company’s technology can serve various markets in search of unique and effective water cleanup solutions. The new name supports the company’s established ability to treat water to extremely high level of clarity. The CEO further added that as previously stated the company’s intention is to purchase profitable firms in this sector. The new name will assist to integrate different firms under the OriginClear brand.
The expert view
“JL” Kindler, the newly-appointed COO of OriginClear, said that while management intends to continue delivering demo machines to associates, they will allow partners to sell the machines to their own clients in each market. It will help the management to avoid the huge capital investment required to create a large-scale manufacturing firm. It will also ensure that channel associates never experience unfair competition from the company.
Nicholas Eckelberry, the Co-founder and CRO of OriginClear, said that recent third party evaluation process demonstrated that the company’s technology mitigates all measures of non-soluble contamination to extremely low or undetectable levels, making the water clear. It is the mission as well as the name of the company. The management announced that the subsidiary firm OriginOil Hong Kong will be renamed as ‘OriginClear Hong Kong Inc.’
OriginClear Inc (OTCMKTS:OOIL) will continue to offer algae harvesting technology to its associates in that water clarification industry. In last trading session, the stock price of OOIL declined more than 25% to close the trading session at $0.0610. The decline came at a massive share volume of 2.79 million compared to average volume of 672,870.