updated 5/17/2011 9:47:24 AM ET 2011-05-17T13:47:24

STUART, Fla., May 17, 2011 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a diversified water engineering, technology licensing and environmental services company, today announced that it has been chosen by The Artemis Project as a Top 50 Water Companies Competition winner. The Artemis Project revealed the companies at the Ontario H20 Global Water Leadership Summit occurring through tomorrow at the Metro Toronto Convention Center in Toronto, Canada.

"The Artemis Top 50 is the water industry's benchmark for recognizing innovation that will matter. It identifies the entrepreneurs that are applying technology to meet the world's water challenges," noted Laura Shenkar, principal at The Artemis Project. "Water tech is quickly becoming an engine for economic development and job growth. With these awards, we strive to identify the companies offering the most promising technologies coming onto the market."

Charles Vinick, Chairman and Chief Executive Officer, stated, "Ecosphere continues to improve its unique position as a leading water engineering firm with patented, proven, commercialized, and licensed technologies. Competing companies were evaluated based on the four criteria of intellectual property, technology, market potential, and team. It is an honor to have been selected by The Artemis Project as a leading water innovator for the second consecutive year."

Please visit www.ArtemisTop50.com for a full list of the 2011 Top 50 Water Companies Competition winners.

About Ecosphere Technologies:

Ecosphere Technologies, Inc. (OTCBB:ESPH) is a diversified water engineering, technology licensing and environmental services company that designs, develops and manufactures wastewater treatment solutions for industrial markets. The Company provides environmental services and technologies for use in large-scale and sustainable applications across industries, nations and ecosystems. Ecosphere is driving clean water innovation with its patented Ozonix advanced oxidation technologies and its mobile, low maintenance water treatment systems. Ecosphere, through its majority-owned subsidiary Ecosphere Energy Services, LLC, provides energy exploration companies with an onsite, chemical free method to kill bacteria and reduce scaling during fracturing and flowback operations. For more information, please visit: www.EcosphereTech.com

About The Artemis Project:

The Artemis Project is a boutique consulting practice dedicated to helping companies thrive in a world of increasing water scarcity. We operate at the intersection of corporate strategy, advanced technology, investment and policy. We work with global corporations to achieve a sustainable competitive advantage through operational excellence in water management and assist advanced water technology companies in maximizing the value they bring to their customers. For more information visit: www.TheArtemisProject.com

Make sure you are first to receive timely information on Ecosphere Technologies when it hits the newswire. Sign up for Ecosphere's email news alert system today at: http://www.ESPH-IR.com .

CONTACT: Investor Relations Contact:
         Gerald Kieft
         The WSR Group
         772-219-7525
         EcosphereIR@wallstreetresources.net
         http://www.WallstreetResources.net/Ecosphere.asp
         
         Press and Media Relations Contact:
         Corey McGuire
         Ecosphere Technologies, Inc.
         772-287-4846
         cmcguire@EcosphereTech.com
         
         Artemis Contacts:
         Laura Shenkar
         The Artemis Project
         415-751-0100
         laura@theartemisproject.com
         
         Lisa Hawes
         Sterling Communications for The Artemis Project
         408-884-5155
         attensity@sterlingpr.com

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