Ecosphere Awarded Frost & Sullivan's 2012 North American Product Leadership Award
Ozonix Advanced Oxidation Technology Recognized as Leading Non-Chemical Water Treatment Process for Recycling Water During Hydraulic Fracturing
STUART, Fla., March 29, 2012 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a diversified water engineering, technology licensing and environmental services company, today announced that the Company and its majority-owned subsidiary, Ecosphere Energy Services LLC, have been awarded Frost & Sullivan's 2012 North American Product Leadership Award in Disinfection Equipment for Shale Oil and Gas Wastewater Treatment.
In its 50th year in business, Frost & Sullivan is a global research organization of 1,800 analysts and consultants that monitor more than 300 industries and 250,000 companies. The company's research philosophy originates with the CEO's 360-Degree Perspective, which serves as the foundation of its TEAM Research™ methodology. This unique approach enables Frost & Sullivan to determine how best-in-class companies worldwide manage growth, innovation and leadership.
The 2012 Product Leadership Award recognizes Ecosphere's leadership in the field of advanced water treatment, specifically in providing energy exploration and production companies with a non-chemical solution that allows them to recycle flowback and produced water with an ozone-based advanced oxidation process. To benchmark Ecosphere's performance against key competitors, Frost & Sullivan's industry analyst Ankur Jajoo compared product features and functionality, innovative elements of the product, product acceptance in the marketplace, customer value enhancements and product quality to competitive solutions that address microbial control and eliminate chemical usage at a lower cost.
"A key challenge in shale oil and gas extraction is the large consumption of water in drought- stricken states, such as Texas and Oklahoma. The need to reuse and recycle produced water is evident. Additionally, for the industry as a whole, using fewer additional resources for treatment will decrease environmental risks and reduce biocide and scale inhibitor costs going forward. The Ozonix technology achieves this successfully, and the installations within shale formations are testament to the company's product development," said Jajoo.
The associated water management challenges for effectively treating or disposing of flowback and produced wastewaters is that wastewater returned to the surface from the fracturing process contains high levels of bacteria, metals, and salt compounds that must be treated prior to being reused and recycled.
Ecosphere Technologies has pioneered a technology solution for oil and gas exploration and production companies that allow them to recycle and reuse 100 percent of the water used during hydraulic fracturing (also known as "fracking" or "fracing"). The company addresses the challenges of treating high levels of bacteria, as well as corrosion and scale-inducing constituents, in oil and gas shale formations through its patented Ozonix technology. Ozonix destroys chemical-resistant bacteria and prevents scale formation effectively without the use of liquid chemicals, such as biocides and scale inhibitors.
"Frost & Sullivan's Product Leadership Award is a prestigious recognition of Ecosphere Technologies' and Ecosphere Energy Services' accomplishments in wastewater treatment for the oil and gas industry," said Charles Vinick, Chairman and CEO of Ecosphere Technologies. "As demand for disinfection equipment grows within the oil and gas industry, having the leading environmentally-safe technology and most-effective product will enhance Ecosphere's overall growth, serving the rapidly growing unconventional oil and gas shale market. To date, Ecosphere Technologies, Ecosphere Energy Services and its licensee, Hydrozonix, have treated more than 1 billion gallons of water on approximately 500 oil and natural gas wells. The company is currently in discussions to expand the adoption of the Ozonix technology in other countries and in additional applications for non-chemical wastewater treatment."
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a diversified water engineering, technology licensing and environmental services company that designs, develops, and manufactures wastewater treatment technologies for a variety of industrial markets. The company provides environmental services and technology solutions for large-scale, sustainable applications across industries, nations and ecosystems.
Ecosphere is currently driving clean water innovation with its patented Ozonix advanced oxidation technologies and mobile, low-maintenance water treatment systems. Ecosphere's patented Ozonix technology is a high-volume, advanced oxidation process designed to recycle water while reducing liquid chemicals used during water treatment applications. In operation since 2008, the Ozonix technology has enabled oil and gas customers to recycle and reuse over 1 billion gallons of water on approximately 500 oil and natural gas wells in major shale plays across the country.
For more information, please visit www.EcosphereTech.com.
The Ecosphere Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12214
About Ecosphere Energy Services
Ecosphere Energy Services, LLC is the exclusive master licensee of Ecosphere's patented Ozonix technologies for domestic and global energy applications. The Ozonix process provides energy exploration and production companies with a cost-effective method to kill bacteria and biofilms without the use of chemical biocides and scale-inhibitors. For more information, please visit www.EcosphereTech.com/divisions/Ecosphere-Energy-Services.
Ecosphere's Ozonix services are available to the U.S. onshore oil & gas exploration and production market exclusively through Hydrozonix, LLC. For more information, please visit www.Hydrozonix.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
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CONTACT: Investor Relations: Gary Dvorchak, CFA Senior Vice President +1 (310) 954-1123 firstname.lastname@example.org Press and Media Relations: Brian Ruby Vice President +1 (203) 682-8268 email@example.com Company: Corey McGuire Director of Marketing Ecosphere Technologies, Inc.