Shares of OriginClear (OTCMKTS:OCLN) continued to trend higher in the previous trading session after the recent gain.
Market Reaction
On Wednesday, OCLN stock jumped 4% to $0.0442 with more than 207k shares, compared to its average volume of 282k shares. The stock has moved within a range of $0.0409 – 0.0500 after opening the trade at $0.0450.
OriginClear’s Water On Demand Achieves First Funding, Prepares for Pilot Program
Leading corporation in self-reliant water revolution developing outsourced pay-per-gallon programs, OriginClear (OTCMKTS:OCLN), announced on November 10 receiving first investor funds into the Water On Demand subsidiary.
The firm is looking to allocate the funds as well as future investments for the subsidiary to buy water equipment that customers will pay for service.Outlining the program in a Money Show presentation, Ken Berenger, VP of Business Development said that after planning for months, it is delightful to implement water as a managed service to replace capital expense.
Origin Clear has also commenced talks for commercial pilot program using pay-as-you-go water treatment contract, also known as Design-Build-Own-Operate in water industry. The contracts are typically indexed to local water rates, with potential of inflation-friendly investment over the long term.
Tom Marchesello, COO of OriginClear said that unlike the ordinary Design and Build model, where revenues only are provided once, the DBOO model can bring decades of lifecycle revenue.
Riggs Eckelberry, OriginClear CEO said that October 29, 2021 is a red-letter day as the company started receiving first six-figure investment in Water On Demand and also commencing talks for a commercial pilot for implementing the managed service.
Water On Demand customers get benefit of avoid capital expense and helps users like breweries and mobile home parks remove expertise of running water system on their own.
Key Quote
“After months of planning, I’m delighted to be implementing water as a managed service to replace capital expense,” said Tom Marchesello, OriginClear Chief Operating Officer. “Unlike the plain Design & Build model, where the revenue just occurs once, the full DBOO model can bring decades of lifecycle revenue.”
