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Okeanos Technologies Signs Patent License Agreement With the University of Texas at Austin

Union, KY (March 1, 2013) – Okeanos Technologies today announced it recently signed a Patent License Agreement (PLA) with The University of Texas at Austin. The terms of this agreement provide Okeanos with a worldwide exclusive license to develop, use and commercialize an ultra-efficient, microdevice-mediated, membraneless, electrochemical process for desalination of both seawater and brackish water. The underlying intellectual property was initially developed in the laboratory of Dr. Richard Crooks at The University of Texas at Austin with initial funding from the U.S. Department of Energy. Research continued under a previously signed Sponsored Research Agreement (SRA) between Okeanos and Dr. Crooks’s lab, which was in part supported by a grant from the U.S. Environmental Protection Agency (EPA).

Okeanos is developing a solid-state microdesalination platform called the WaterChip™ to harness and redirect the corrosive power of seawater for desalination. Desalination will be carried out one millionth of a liter at a time, and massively scaled to produce clean water at commercially useful flow rates. The licensed technology is the first to transition the desalination process from a large (e.g. macro) scale to a small (e.g. micro or nano) scale process. Driven by the light-speed and energy-efficient transfer of electrons, as opposed to transport of ions, the WaterChip™ is expected to desalinate with world-record efficiency and cost effectiveness.

“Our newly signed Patent License Agreement with The University of Texas at Austin is a landmark for Okeanos and forms the foundation for our future technological and corporate growth. It not only defines who we are from a technology standpoint, but it strengthens our existing relationship with the University and its talented faculty, contributing towards further optimization and expansion of the technology going forward,” said Tony Frudakis, CEO of Okeanos Technologies. “We are in dire need of a quick and cost-efficient way to purify our abundant sources of saline water. Enabled by this technology, the Okeanos WaterChip™ platform represents a much-needed paradigm shift for the global desalination and the water-treatment markets, and represents the world’s first meaningful step towards energy-efficient desalination since the late 1950s.”

“We are very pleased about the technology developed at the University of Texas at Austin that is being incorporated into the WaterChip™. Although much work remains to be done, we believe in the research and the science and are optimistic about the impact it can have,” said Dan Sharp, Associate Vice President for Research and Director of the Office of Technology Commercialization at the university.
About Okeanos Technologies

Okeanos was formed in 2012 to develop and commercialize a next-generation, ultra-efficient desalination technology. Our solid-state WaterChip™ platform harnesses and redirects the corrosive potential of seawater to separate salts from water with world-record efficiency. Our disruptive/transformative WaterChip™ platform is expected to enable a more distributive water distribution model and simultaneously address a number of profound environmental, economic and human health related problems. For more information about us please visit our website at www.okeanostech.com.

About The University of Texas at Austin
Founded in 1883, The University of Texas at Austin has become one of the largest and most respected universities in the nation, with a diverse learning community and students from every state and more than 100 countries. For more information about the uUniversity please visit our website at www.utexas.edu.