Bulk of increase came from new subsidiary, Progressive Water Treatment
OriginClear Inc., a provider of water treatment solutions, announced that its 2015 revenue estimates show a dramatic improvement over previous years. Revenue, an estimated $1,170,000 in 2015, increased by 700%, year over year, from 2014 which was approximately $200,000. The bulk of the increase came from the new subsidiary, Progressive Water Treatment, which began to contribute its revenues in the 4th Quarter, when the acquisition closed.
In addition to its revenue in the 4th Quarter, PWT also booked sales orders of $2,700,000.
While most of the good news came from PWT, the OriginClear Technologies operations did well too, doubling revenues to $307,000 in 2015, with an $850,000 balance on its recent joint venture licensing agreement still expected in early 2016.
“On top of these gains by PWT and OriginClear Technologies, our OriginClear Group is aggressively moving forward with plans for acquisitions in 2016 that would further increase revenues,” said Bill Charneski, president of the OriginClear Group. “Our plans are to extend the group to include more markets, technologies and regions of the country.”