OriginClear Inc (OTC: OCLN) is a water treatment company that designs, fabricates, and sells decentralized water treatment systems through its subsidiary Progressive Water Treatment (PWT) and is developing an outsourced water-as-a-service model through its subsidiary Water on Demand Inc (WODI). PWT generates revenue through direct sales of water treatment equipment to commercial, industrial, and municipal customers, while WODI is pursuing a per-gallon or flat-fee managed service model known as Water on Demand. The company operates from corporate offices in Clearwater, FL and a 21,300-square-foot manufacturing and warehouse facility in Sherman, TX (as of the 10-K filed April 13, 2026). The filing carries a going-concern qualification, noting net losses from operations and negative operating cash flow for the fiscal year ended December 31, 2025. In September 2025, OriginClear also entered two Bitcoin mining joint ventures, Block40X JV (50% owned) and Bitmern JV (40% owned), though neither had a material financial impact as of December 31, 2025.

Revenue model

PWT sells water treatment systems on a transactional basis to municipal, commercial, and industrial customers. WODI is developing a service revenue model where customers pay per gallon or a flat fee for managed wastewater treatment under a design-build-own-operate (DBOO) structure, avoiding customer upfront capital costs. As of the fiscal year ended December 31, 2025, the Water on Demand model had not yet achieved material commercial scale.

Products and services

Products and services include custom-designed and fabricated water and wastewater treatment systems (PWT), full-service water-as-a-service solutions under the Water on Demand brand (WODI), and equity interests in two Bitcoin mining joint ventures (Block40X JV and Bitmern JV, both entered September 2025).

Customers and end markets

PWT serves smaller towns, counties, cities, townships, state and federal agencies, private individuals, commercial entities, and industrial facilities. The Water on Demand model targets commercial and industrial users seeking on-site water treatment without large upfront capital investment.

Value-chain role

OriginClear sits at the equipment manufacturing and managed-services layer of the water treatment value chain. PWT designs and fabricates systems sold to end users. WODI intends to finance and initially operate water treatment systems, then delegate building and operations to regional water service partners under performance contracts.

Geographic exposure

United States. Corporate headquarters in Clearwater, FL; PWT manufacturing in Sherman, TX (as of 10-K filed April 13, 2026).

Source: SEC 10-K, filed 2026-04-13

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