Neohydro Technologies Acquires Electrolytic Technology License

Neohydro Technologies Corp. has come to terms to complete the licensing agreement with Neohydro Corp., for the acquisition of the exclusive marketing, distribution, and licensing rights for its proprietary technology, which will be used in the treatment of industrial wastewater, according to a Sept. 22 press release.

The price for the licenses shall be (US) $1.4 million.

Neohydro Corp., will grant to Neohydro Technologies all of the patent and intellectual rights of the use in the business of the sale, marketing, and distribution of Neohydro Corp's water sterilization technology, a proprietary high-voltage electrolysis device that transforms water solely for industrial applications.

In addition, Venugopal Rao Balla tendered his resignation as director, president, principal executive officer, secretary, treasurer, principal financial officer, and principal accounting officer of the company. Balla said, "I felt that in order to provide the company with greater shareholder value and the proper execution of the water treatment business, that the company would be better served under the leadership of Mr. Dean Themy, who brings the experience, contacts, know-how, and vision to guide the company. The technology under license is exciting, as it provides a 'Green Solution.' It will treat industrial waste water without toxic chemicals and with low energy consumption, not like the inefficient old technologies such as reverse osmosis or distillation."

Themy has been appointed president, principal executive officer, treasurer, principal financial officer, principal accounting officer, and chief executive officer of the company. Nicholas Kamboras is secretary of the company.

"I am pleased to be the company's new CEO and in a world looking for eco-friendly solutions to the every growing environmental problems and the strains industries are putting on our water," Themy said. "Since water is the fuel of many industries and the waste is a big concern both environmentally and economically, I look forward to the opportunity to share a technology that my father developed, which will help elevate some of these pressures put on our ecosystems by industries worldwide."

The proprietary technology's value proposition is that it will allow onsite treatment of wastewater from industries such as the gas and oil drilling, pulp and paper mills, food processing plants, and agriculture, treating the water to U.S. Environmental Protection Agency standards and re-injecting it back into the same industry. The return on investment will be achieved by the elimination of transportation costs, reduction of waste, reuse of the treated water, elimination of toxic chemical use, and reduction of energy consumption.

In exchange for the license, Neohydro Technologies Corp. will by way of allotment issue an amount equal to the value of 20 percent of the issued and outstanding shares of its common shares to Themy.

comments powered by Disqus