STUART, Fla., March 16, 2010 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a diversified water engineering and environmental services company, today announced that the U.S. Patent & Trademark Office has issued a formal Notice of Allowance for two of its patents to treat industrial wastewaters and potable waters. Major energy companies fracturing wells in the natural gas industry are successfully using the Ecosphere Ozonix technology and frac tank systems. The innovative and environmentally friendly system allows companies to eliminate biocides while fracturing the wells and then clean the water when it flows back after the fracturing process to be recycled in fracturing new wells. Millions of gallons of water are used on each new well.
The inventors of Ecosphere's two new patents were company Founder and CEO Dennis McGuire and Sanjeev Jakhete, Sr. V.P. of Engineering. The new patents have been assigned to Ecosphere Technologies Inc. (ESPH). Dennis McGuire stated, "This is great news for Ecosphere. Having our patents approved so decisively in such a short time by the U.S. Patent Office quantifies the importance of our technology here in the U.S. for the sustainable development of our own energy reserves."
McGuire further commented, "Through our majority owned subsidiary Ecosphere Energy Services, we will continue to expand our 'Total Frac Water Management' services in the natural gas and offshore energy industries, both domestically and internationally. Our EcosFrac, EcosBrine, and EcosStim technologies enable natural gas and oil exploration companies to eliminate scaling in their frac waters, reduce well completion costs, recycle their frac and flowback waters, and improve the reservoir performance while eliminating liquid biocides or chemicals that need to be removed from the water when it flows back. This solves a major energy industry challenge and opens up an enormous opportunity for Ecosphere worldwide."
In December 2009, the company filed two patent pending applications under the new USPTO's Green Tech Fast Track program. The goal of the USPTO's new patent program was to shave as much as one year off the process, which now takes an average of 30 months for an initial action from the USPTO and 40 months for a final decision. Ecosphere Technologies is one of the early Clean Tech companies to benefit from this program as well as to have patents approved under this program to aid the energy exploration companies to eliminate chemicals from their fracturing and stimulation process.
Commerce Secretary Gary Locke and Energy Secretary Steven Chu made the original announcement for the Green Tech Fast Track program this past December. Secretary Locke stated, "American competitiveness depends on innovation and innovation depends on creative Americans developing new technology. Every day an important green tech innovation is hindered from coming to market is another day we harm our planet and another day lost in creating green businesses and green jobs."
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About Ecosphere Technologies:
Ecosphere Technologies, Inc. (OTCBB:ESPH) is a diversified water engineering and environmental services company. The Company provides environmental services and technologies for use in large-scale and sustainable applications across industries, nations and ecosystems. For more information, please visit: www.ecospheretech.com.