Published on Sep 9, 2014
On the Big Biz Show, OriginOil co-founder Nicholas Eckelberry describes his trip to China and OriginOil’s potential part in China’s one-trillion dollar program to cleanup its water using OriginOil?s water filtration systems. CEO Riggs Eckelberry also discusses OriginOil’s new relationship with STW Resources in Texas and the forthcoming demonstrations in Fort Stockton over the coming weeks.
0:28 Sully: ?What?s new man. Of course, OriginOil (http://www.OriginOil.com) is a breakthrough water cleanup technology. They?ve crossed many verticals?oil and gas, aquaculture, algae, you name it. What?s going on lately with you guys. I haven?t talked to you in a week or so.?
0:40 Riggs: ?Last week, we announced that we had this big deal with a company called STW Resources. In fact, they?re on the market as STWS. And they operate in 35 counties in west Texas and New Mexico in the Permian Basin, basically, and they?re eager to test our technology. We?re sending a team right now to Ft. Stockton, where the machine that we?ve had in western Colorado is being set up there. We?re going to have a series of demos for the oil industry and it?s incredibly exciting. So, it?s a big leap forward, and of course, prior to that we had the big deal with Gulf Energy in the Middle East which now is turning into a huge deal. And then, meanwhile, Nicholas went to China and I have a report from Nicholas that we can play.?
Sully: ?Nicholas Eckelberry, by the way, Chief Invention Officer for OriginOil, he?s the mad scientist involved. I do want to talk about STW Resources in a second but let?s hear from Nick!?
1:55 [Caption: Nicholas Reports on his China Trip?August 28th 2014]
Riggs: ?Dude, welcome back from Harbin and somewhere in Manchuria, right??
Nicholas: ?Harbin China, it?s actually a cool town. It?s well known for its technology. The Harbin Institute of Technology is the premier water technologies for the new 5-year, $1 trillion dollar Chinese government plan to clean up the water. So there sucking up new technology like a sponge. I was there as a guest of a private company, to assist with their fracking fluids. They?re getting a big hit by the government on re-using their frack water. I sat in with the president of HIT, Harbin Institute of Technology, and he gave me a tour of the facilities, state-of-the-art labs.?
Riggs: ?We have access to those if we get part of the venture in some way??
Nicholas: ?We have an office there if we want it. I mean, they just said, here are the keys, it?s all yours.?
[Caption: OriginOil Frack Water Cleanup Test Unit]
Nicholas: ?The market potential is out of this world. It makes America look like nothing.?
Riggs: ?And they?re moving fast.?
Nicholas: ?Everything is on go, go, go, today, today, today. Oh, and then I went to the Institute of Oil Technology there, which is run by PetroChina and that?s another mega-complex. Again, keys to the city. Once we get certified by the authorities, at that point, then we have access to the two other major oil fields down south. They want us validated, certified?we?ll have full access to university labs, water-quality testing, PhD programs, whatever we want. Then once we do that, then we can just do mainstream China and basically, once you do China at that level, you?ve got the rest of Asia. The water treatment market just in the oil fields has gone from $1 to $5 billion. But the water treatment program is $1 trillion dollars. And they?ve been in an atmosphere of ?yeah, let?s do it. Let?s do it today!?.?
[Caption: Successful separation of organics using OriginOil technology]
Nicholas: ?The test went well. We?re sending another unit in a couple of weeks that will actually go to the field. Be monitored by PetroChina and supervised by the Chinese government. (?Wow!?) So it?s super high-level? (?I?m so excited.?) It is really exciting. I can?t tell you the excitement.?
4:12 Sully: ?What kind of a partnership does that mean for you Riggs? I mean is that a dramatic change in the original business model or did you kind of know you were headed in that direction??
Riggs: ?Well, China is a very specific place because licensing is problematic there. It?s very hard to audit books and royalties and it kind of goes into a black hole. So not to telegraph our plans too much but it looks like some kind of joint venture structure for that entire country.?
High-Speed Frack Water Cleanup