Originclear, Inc.

OriginClear, Inc. is a U.S.-based water industry company organized around its Water On Demand, Inc. subsidiary and its operating units Progressive Water Treatment, Modular Water Systems, and Water on Demand. The company designs, builds, services, and develops industrial water treatment and decentralized water-management solutions, with activities centered in the United States.

−48,4 %

23,8 %

−268,7 %

+23,0 %

0.21

0.21

— Originclear, Inc.
%
Industrial water treatment systems55% Design and manufacture of custom water treatment systems for industrial and municipal use.
Water treatment services20% Maintenance contracts, retrofits, and replacement support for installed systems.
Equipment rental10% Contract-based rental of water treatment equipment and related assets.
Water innovation and incubation10% Development-stage water business incubation, licensing, and platform activities.
Water finance / decentralized water models5% Financing-oriented water infrastructure concepts and pay-per-gallon style models.

The company sells to municipal, industrial, and pure-water customers that need engineered treatment systems and ongoing...

  • Industrial and municipal water usersprimary

    Buy turnkey treatment systems, controls, and service support for regulated water handling needs.

  • Pure-water and specialty applicationssecondary

    Purchase customized systems for higher-specification water quality requirements.

  • Outsourced water-treatment customerssecondary

    Use contracted maintenance, retrofit, and rental offerings instead of owning systems outright.

  • Water-industry partners and project sponsorsemerging

    Engage in incubation, financing, or joint-development structures around water projects.

OriginClear is headquartered in Clearwater, Florida, while Progressive Water Treatment is based in Sherman, Texas...

  • •Headquartered in Clearwater, Florida
  • •Progressive Water Treatment operates from Sherman, Texas
  • •Core business activity is concentrated in the United States
  • •Reported pilot and JV activity is tied to U.S. projects
  • •Geographic exposure is mainly domestic rather than global

The company’s strategy centers on building and incubating water-related businesses through its Clean Water Innovation...

01
Build Water On Demand as the main platformshort-term

It is the company’s central operating and growth focus.

02
Expand through partnerships and equity-linked structuresmedium-term

Partnerships can provide capital, expertise, and market access without full ownership.

03
Develop financing-oriented water infrastructure modelsmedium-term

The company aims to combine water operations with capital formation and project finance.

OriginClear depends on access to external capital, successful project execution, and customer adoption of its...

high

Capital availability

The company relies on equity, debt, and strategic financing to sustain operations and growth.

Scope
Operations and project funding
Materiality
high
high

Development-stage business failure

Water On Demand and related concepts may not achieve commercial success.

Scope
WOD and incubation initiatives
Materiality
high
medium

Project execution and technical complexity

Custom-engineered water systems require design, installation, and service performance.

Scope
PWT and MWS offerings
Materiality
medium
medium

Partner and JV dependence

Joint ventures require coordination on capital, operations, and governance.

Scope
Block40X JV, Bitmern JV
Materiality
medium
medium

Customer concentration and backlog timing

Near-term results may depend on a limited set of projects and backlog conversion.

Scope
PWT revenue
Materiality
medium
Revenue recognition
Quarterly revenue and receivables
Derivative accounting
Other income/expense and net income
Impairment testing
Asset values and earnings
Allowance and reserve estimates
Balance sheet and earnings

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: 29/04/2026