Hydrosphere Energy to purchase Ozonix water treatment units

Ecosphere Technologies subsidiary Fidelity National Environmental Solutions (FNES) has signed an agreement with Hydrosphere Energy Solutions to deploy water treatment technology in Alberta and Northeast British Columbia, Canada.

Under the terms of the agreement, Hydrosphere Energy is required to purchase one Ozonix EF10M unit for immediate delivery and eight Ozonix EF10 units within the first 12 months.

In addition, Hydrosphere Energy will also purchase one Ozonix EF80 unit within the first 12 months and a minimum of two Ozonix EF80’s within 24 months following the delivery of the first purchased Ozonix units.

FNES will receive ongoing royalty payments from Hydrosphere on all water processed in the licensed territory.

Hydrosphere Energy sub-licenses Ozonix technology for hydraulic fracturing operations in the territory of Alberta and North East British Columbia, Canada.

Ecosphere Technologies chairman and CEO Dennis McGuire said: "The latest equipment purchase, sub-license and services agreement with Hydrosphere Energy Solutions is a testament to Ecosphere and FNES’s competitive positioning in the oil and gas water treatment space."

The patented Ozonix EF10, EF10M and EF80 units are mobile advanced oxidation systems specifically designed, developed and manufactured by Ecosphere to treat 100% of the water required for oil and natural gas production.