Ecosphere Technologies, Inc.

Ecosphere Technologies Named One of the 2013 Governor's Innovators in Business Awards Winners

Awards Honor Businesses for Job Creation, Entrepreneurship, and Export Growth and Excellence

STUART, Fla., Jan. 22, 2014 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), an innovative U.S. technology licensing and manufacturing company, announced it has been named a winner in the 2013 Governor's Innovators in Business Awards by Enterprise Florida (EFI). The awards program, in its 30th year of operation, recognizes Florida companies in select industries that have influenced the state's economic growth and diversification over the last year.

Winners were recognized during a special event last night, January 21, at the Governor's Mansion in Tallahassee. Ecosphere was presented with the Governor's "Rising Star" Award in a mid-market, which recognizes rising Florida companies that have shown a commitment to business growth, professional excellence and involvement in their communities.

Governor Scott said, "Florida's economy has made a huge upturn thanks to businesses like the ones being recognized today. These outstanding companies have worked hard to create jobs and improve our economy. Florida families are able to live the American Dream with the help of the successful, innovative companies that call Florida home. I am thankful to these companies for their help in making Florida a great state for business and congratulate them on their achievements."

Secretary of Commerce Gray Swoope said, "Florida and its companies continue to be the model for economic recovery and growth in the nation. Companies from every industry around the state have helped produce jobs and provide opportunities that companies in other states just haven't been able to match. They truly deserve to be recognized for their resilience, innovation and achievements. On behalf of EFI, congratulations to each of these worthy companies and we look forward to their continued success."

"We are proud to be recognized by Governor Scott as a "Rising Star" due to our efforts in chemical-free water treatment and innovative solar power generation," said Dennis McGuire, Chairman and CEO of Ecosphere Technologies, Inc. "2013 proved to be a breakthrough year for our patented Ozonix® water treatment technology, which has since 2008 enabled oil and gas customers to treat, recycle, and reuse more than three billion gallons of water for more than 800 oil and natural gas wells around the United States, protecting $4 billion worth of well assets, and generating approximately $65 million in revenue for our Company and shareholders. We also posted a major first step in the commercialization of our revolutionary Ecos PowerCube® and are looking forward to developing new opportunities for this unique technology in 2014 and beyond."

McGuire continued, "We have made significant investments to reach the inflection point we are at today and Florida has been our base of operations for over 16 years. We want to thank Governor Scott for his efforts in making Florida a great home for innovative technology companies such as ours."

EFI has hosted the annual Governor's Innovators in Business Awards program for the past 30 years. The winners are chosen by a panel of judges that includes business leaders, past winners and EFI staff. The event is sponsored by Bank of America and Florida Trend magazine.

About Ecosphere Technologies

Ecosphere Technologies, Inc. (OTCBB:ESPH) is an innovative U.S. technology licensing and manufacturing company that develops environmental solutions for global markets. We help industry increase production, reduce costs, and protect the environment through a portfolio of more than 35 patented and patent-pending technologies: Technologies like Ozonix® and Ecos PowerCube®, which are licensable across a wide range of industries and applications throughout the world.

For more information, please visit http://www.ecospheretech.com

About Enterprise Florida, Inc.

Enterprise Florida, Inc. (EFI) is the principal economic development organization for the state of Florida. The legislatively-mandated organization is a public-private partnership between Florida's business and government leaders, and serves to expand and diversify the state's economy through job creation.

For more information, please visit http://www.eflorida.com/

To receive timely information on Ecosphere Technologies, sign up for Ecosphere's email news alert system at http://www.ESPH-IR.com.

Cautionary Note Regarding Forward-Looking Statements.

This press release contains forward-looking statements including developing new opportunities for the Ecos PowerCube® technology in 2014 and beyond. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements.  Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the acceptance of the new technology and the reluctance of companies to adopt new technologies.

Further information on our risk factors is contained in our filings with the SEC, including our Form S-1 filed on January 17, 2014. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

CONTACT: Investor Relations:
         Shawn Severson
         The Blueshirt Group
         Phone: (415) 489-2198
         E-mail: shawn@blueshirtgroup.com

         Press and Media Relations:
         Alex Wellins
         The Blueshirt Group
         Phone: (415) 217-5861
         E-mail: alex@blueshirtgroup.com

         Company:
         Corey McGuire
         Director of Marketing
         Ecosphere Technologies, Inc.
         Phone: (772) 287-4846
         E-mail: cmcguire@ecospheretech.com
Source: Ecosphere Technologies, Inc.

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