Ozolutions Receives Financing for Water Treatment Acquisitions
Ozolutions Inc. has received confirmation from U.S. Capital Inc. that it intends to bring its private placement bond offering, US. Capital-Life Settlements, LLC, to market on October 1st, 2003.
Ozolutions had previously been approved by U.S. Capital for a $5 million financing. Should the financing be completed in October 2003, proceeds will be used to fund Ozolutions proposed acquisition of U.S. based water treatment distributors and marketing program for Ozolutions own water treatment systems.
A Harvard University Public Health study reports that in the U.S alone, the demand for home filtration devices providing safe drinking water is rapidly expanding with spending for residential devices estimated to be nearly $2 billion per year. This reflects consumer willingness to pay for improved drinking water quality based on health related concerns. In the U.S., health damage due to microbial contamination and disinfection of drinking water costs are estimated to be about $5 billion per year.
Ozolutions distributes two chemical free home drinking water systems which it proposes to add to the existing product mix of the U.S water treatment distributors it intends to acquire. The ultra violet system exceeds National Sanitation Foundation certification standard 55A meaning it will quickly and effectively disinfect microorganisms such as bacteria, viruses and parasites in both surface and well water sources.
The second system is the EntrOzone, an ozone based system for households requiring treatment for microorganisms as well as taste, odor and color problems. This system is also effective in dealing with minerals, heavy metals and chemicals. Ozone is 52% more powerful than chlorine and leaves no harmful chemical residue in the environment. EntrOzone combines ozone. ultra violet and carbon filtration technologies as a multi-barrier system that protects against the widest possible range of water borne contaminants.