Ecosphere Technologies is a diversified water engineering and environmental services company with a primarily focus on the natural gas industry. One of the shining stars of Ecosphere Technology is their subsidiary, Ecosphere Energy Services, LLC (EES), which today announced that it has closed a major financing round of $7.5 million with Fidelity National Financial (FNF).
The union of EES and FNF will provide benefits to all involved. EES has become known as a leading provider of proprietary water purification and management systems to the energy industry and showcase the proprietary Ozonix technology which offers an eco-friendly “Total Water Management” system that is capable of cost effectively reclaiming water for maximum reuse and minimal waste. This technology has the capability of protecting our most precious resource while providing protection to the environment.
As for FNF, they are a leading provider of title insurance and specialty insurance. Being a known name in their industry and a leader in their field, FNF has the option to select whom they finance and the fact that they chose EES is a clear indication that the young company is starting to catch the eye of investors and protectors of the environment across the globe.
When asked what this financing will mean to EES, John Kuelbs who serves as the Company Chairman was quoted as saying, “We are excited to be partnering with FNF, a world class organization. After seeing our mobile Ozonix technology at work in the field and speaking with the operators, FNF decided to make an equity investment in our company. This important $7.5 million round of capital will allow EES to build all of the equipment that we need to fully fund our Southwestern Energy contract.”
Currently, the parent company is trading in the $0.36 range and could certainly be classified as an over-the-counter ‘sleeper’. With continuous positive news being produced from the corporation, a strong management team in place and structured financing to enhance their future, Ecosphere Energy Services may be a diamond in the rough.
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