The American water system has been in decline for a long time. Millions of people are drinking water that fails to meet health standards, including dangerous contaminants such as uranium and microplastics. The water sector is grossly underfunded, with many of our water systems needing complete replacement or expensive upgrades. Between the growing population, increased water scarcity, and our water infrastructure falling behind, the government cannot keep up with our public municipal water systems. This has brought a shift in focus to the idea of private water utilities and how this pioneering concept could help solve the growing American water crisis.
Florida-based OriginClear aims to become the leader in private water utility with their Water On Demand fintech startup that finances such programs. Businesses and housing developments can sign a contract for water treatment without upfront capital or the need to do their own costly maintenance. Customers simply pay by the gallon of treated wastewater, similar to how they are already paying for their electricity.
Investors in the project are given the opportunity to potentially earn royalties from private water utility projects serving these industrial and agricultural businesses that are not being adequately served by America’s underfunded municipal water systems.
Riggs Eckelberry, CEO of OriginClear, shares, “water On Demand can help businesses eliminate or mitigate their dependency on municipal sewage treatment, which can be costly or even totally unavailable.” He adds, “This is a growing trend as city water systems fall behind on funding ─ and populations increasingly migrate away from big urban centers. For wastewater producers, the ability to pay-as-you-go for water treatment services is revolutionary. For investors, Water On Demand enables them to participate in the financing of these services at a stage we believe is undervalued.”
OriginClear is a hub for water innovation, and the launch of Water On Demand is the first of many anticipated business property spinoffs. Other business properties within the OriginClear ecosystem include Modular Water Systems, which owns a master license to five key international patents for prefabricated, highly durable modular water treatment and pumping products. “With the support of our amazing investors and backers, we have incubated a series of valuable brands, and it’s time to help them shine on their own,” said Riggs Eckelberry, OriginClear CEO. “We believe that through crowdfunding platforms, we can launch and fund a series of highly focused ‘pure plays’ that can leverage targeted strategic partnerships and have the potential to be future stand-alone public companies.”
The goal is for Water On Demand to focus purely on finance and asset management for water projects. OriginClear recently agreed in principle to an arrangement with Houston-based Envirogen Technologies for specific operational and maintenance functions and is in the process of securing additional partnerships. This focus on capital gives Water On Demand the ability to be a true fintech startup in the water industry. It met its first $1 million milestone in dedicated capital this March.
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