OriginClear to Acquire Progressive Water Treatment

OriginClear Inc., a leading provider of water treatment solutions, has entered into a definitive agreement to acquire 100 percent of Dallas-based Progressive Water Treatment Inc. for preferred stock that may be converted to common stock in three annual increments beginning 12 months from closing.Under the agreement, PWT will become a wholly owned subsidiary of OriginClear. PWT is a profitable and fast-growing designer, builder and service provider for a wide range of industrial water treatment applications. PWT has forecast that its revenues will exceed $6 million in 2015.This marks the first transaction in OriginClear’s corporate strategy to rapidly acquire leading U.S. water treatment companies