DALLAS, TX -- (Marketwire) -- 07/23/09 -- Bledsoe Capital Group announces today that it has closed a $10 million cleantech investment into Ecosphere Energy Solutions, LLC (EES), an environmental services subsidiary of Ecosphere Technologies, Inc. (OTCBB: ESPH). Bledsoe Capital becomes a 33% owner of EES, which owns the license for the Ecosphere Ozonix technology in the energy business.

Bledsoe Capital funded the first Ozonix prototype equipment for EES to take it to the oil and gas industry to help energy companies recycle the water that is used during the exploration and recovery of natural gas in shale plays. Over the past year the management of Bledsoe Capital has made numerous trips to the various U.S. shale plays to see the Ecosphere Ozonix equipment working in the field, as well to meet the major energy customers whose water treatment services are being provided by EES. John Kuelbs, managing director of Clean Water Partners, the subsidiary cleantech fund of Bledsoe Capital investing into EES, stated, "This technology and investment opportunity could not have come at a better time for the oil and gas industry and the environment; it's green for the companies and it's green for the environment."

The Bledsoe Capital opportunity has attracted a diverse group of investors including NFL great, Troy Aikman. After visiting one of the Oklahoma sites to see the Ecosphere Ozonix equipment working, Aikman said, "I was very impressed with the technology that Ecosphere developed and was excited to have the opportunity to invest in Bledsoe Capital."

Drew Bledsoe stated: "We believe that water is the new oil in terms of global importance. We have proven that the ESS technology provides profits for both our investors and our customers. We are happy to have Troy as a partner in this endeavor."

Chad Wold, managing director of Bledsoe Capital, stated: "The Ecosphere Ozonix technology has multiple applications for water recycling in U.S. and global shale plays, onshore and offshore oil production, as well as coal bed methane applications. Our next focus is to begin applying the Ecosphere technology in these other industries with strategic energy partners not only in North America, but around the world."