SOURCE: Ecosphere Technologies, Inc.

January 15, 2008 09:15 ET

Ecosphere Technologies Reports Dr. Kent Moors to Launch Ecosphere Ozonix Process in Global Oil and Gas

STUART, FL--(Marketwire - January 15, 2008) - Ecosphere Technologies, Inc. (OTCBB: ESPH), a diversified clean technology and water engineering services company, has named well-known international oil and gas expert Dr. Kent Moors as a corporate senior strategic consultant. Dr. Moors will direct the introduction of the Ecosphere Ozonix process for oil and gas fields worldwide. Dr. Moors has advised the U.S. and foreign governments, six of the world's top ten oil producers, as well as companies in over 20 countries.

"I am enthusiastic about the Ecosphere Ozonix breakthrough," Dr. Moors said. "The Ecosphere Ozonix process has an immediate impact on improving profitability for hydrocarbon producers worldwide. The Ecosphere Ozonix process allows for the continued operations of marginal fields resulting in enhancing supply to meet exploding global demand, while at the same time making a very positive contribution to the environment."

Ecosphere's revolutionary Ozonix process utilizes a combination of ozone and ultrasonic sound waves to treat produced water and drilling mud at the drilling site. Just completed field testing in Texas and Louisiana have yielded anticipated results, providing water exceeding EPA requirements and successful treatment of drilling mud without the use of polymers or chemical additives. Additional testing is ongoing in the Barnett Shale.

"The overall cost of treating produced water has become the single greatest expense facing oil and gas extractors today," Dr. Moors noted. "After years of evaluating various technologies to manage oil field costs, I have concluded that the Ecosphere Ozonix process is the only reliable, cost-effective produced water solution. The Ecosphere Ozonix process is designed to provide results well above alternative produced water technologies and at a fraction of the price. The Ecosphere Ozonix process will save oil and gas producers billions of dollars while at the same time improving the environmental impact of field operations in every location of the world in which it is introduced." Dr. Moors further stated, "I have identified over 17,500 companies and more than 55,000 oil and gas field operations worldwide that would profit from the first day Ecosphere's Ozonix process is introduced to their operations."

Dennis McGuire, Chief Executive Officer of Ecosphere Technologies, Inc., stated, "Dr. Moors has identified 123 oil and gas regions worldwide to supply the Ecosphere Ozonix process to. Dr. Moors' unique business model will be to form partnerships with large oil field services companies in each of the 123 oil and gas producing regions. The partnerships will share in the daily rental rate of each Ozonix mobile water filtration system. It is a brilliant business model that only has the oil and gas companies paying for the service with the money they are saving from not having to haul off the produced water from each barrel of oil or gas that comes out of the ground. Once commercialized, the recurring revenue stream from the daily rental will provide far greater value to Ecosphere and its shareholders than simply a sale to the end customer. The beauty of our business is that we have a technology that is more efficient, saves money for our customers, is environmentally friendly, but at the same time does not have any of the financial risks associated with the oil and gas drilling and exploration industry."

About Dr. Kent Moors:

Dr. Kent Moors is an internationally recognized expert in global risk management, oil/natural gas policy and finance, cross-border capital flows, emerging market economic and fiscal development, political, financial and market risk assessment, as well as new techniques in energy risk management. He has been an advisor to the highest levels of the U.S. and foreign governments, a consultant to private companies, financial institutions and law firms in 21 countries and has appeared over 800 times as a featured television and radio commentator.

As president of ASIDA, Inc., an international consulting firm specializing in Russian, CIS, Caspian and other developing market hydrocarbon and financial strategies, his clients have included six of the world's top ten oil companies, leading oil and natural gas producers throughout Russia, the Caspian Basin, the Persian Gulf and North Africa, as well as major transnational banks, investment firms and holding companies.

About Ecosphere Technologies

Ecosphere Technologies, Inc. (OTCBB: ESPH) is a diversified clean technology and services company dedicated to creating products that make life better. Ecosphere's mission is to identify, create and incubate clean technologies that solve a significant industry challenge, improve the quality of life and the environment, and are economically viable. Ecosphere has an extensive portfolio of patented clean technologies that can be purchased and licensed for use in large-scale and sustainable applications across industries, nations and ecosystems. For more information, please visit: www.ecospheretech.com.

To be included in Ecosphere's e-mail list click below: http://www.b2i.us/irpass.asp?BzID=1368&to=ea&s=0

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including the roll-out of its Ozonix™ technology. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Ecosphere to execute definitive agreements with its joint venture partners and the performance of the initial units in the field. Further information on Ecosphere's risk factors is contained in its filings with the Securities and Exchange Commission, including the prospectus filed February 1, 2007, as supplemented, the Form 10-KSB for the year ended December 31, 2006 and the Form 10-QSB filed August 14, 2007. Ecosphere does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information