Los Angeles – May 2, 2017 – OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, announced today that it agreed in principle to address the country’s long-term water crisis by directly targeting 2.8 million small and medium enterprises (SMEs). A planned joint venture, OriginClear Thailand, is intended to access up to 13,000 factories with its proprietary Electro Water Separation with Advanced Oxidation technology, to help address the country’s long-term water crisis.
“This is a new approach to entering a country, working through the SMEs and the factories they control and work with,” said Jean Louis Kindler, President of OriginClear’s Technologies Division. “If this is successful it could become a model for entering more countries with our licensable technology.”
In a ceremony in Bangkok last week, Mr. Kindler accepted a term sheet with Green Zone Innovation, a group headed by Mr. Chumpol Chaiwat, Deputy President to the Federation of Thai SME Association (video), and Marathon Intertrade, a marketing company for water treatment solutions, to create OriginClear Thailand.
The project has the active support of Dr. Boonsakdi Lorpipatana, professor at the Kasem Bundit University in Bangkok, and a stakeholder in Thailand 4.0 Innovation, a major government policy aimed at achieving economic parity and balance between the environment and society. Dr. Lorpipatana plans to advise Green Zone Innovation and Marathon Intertrade on this joint venture.
“Thanks to our planned partnership with OriginClear, we believe we will be able to combine its process with our own complementary technology, to address many more needs,” said Mr. Kanphong Lorpipat, Managing Director of Marathon Intertrade. “The 2.8 million SMEs we serve directly are in top target industries including energy management, sugar and ethanol, food, drinking water, aquaculture, and agriculture. These businesses need help to meet Thailand 4.0 goals.”
The parties have defined a schedule for execution of the definitive agreement and other binding documents. Until these have been entered, there cannot be any assurance that the joint venture will be implemented.
While it is the second largest economy in Southeast Asia for GDP, and 27th in the world (World Bank, 2015), the Kingdom of Thailand is still an emerging country for water treatment, purifying only 15 percent of the water it consumes. The master plan for the Bangkok Metropolitan Region alone calls for 19 additional water treatment plants, in addition to the eight in operation or already in the bidding process.