March 14, 2012
Select Energy Services will use Oasys Water technology
Oasys Water Inc., a Boston company with a technology to remove salt and other contaminants from dirty water, said it has landed its first customer --- Select Energy Services LLC, a Houston company that provides water services to the oil and natural gas industry.
Financial details of the relationship were not disclosed in an Oasys Water press release.
Under the agreement, Select Energy Services plans to use Oasys Water technology at a natural gas fracking facility in West Texas. Fracking is an industry term for obtaining gas or oil from underground by fracturing rock layers with pressurized water. By the end of the process, the water is contaminated, and disposing of it, either through evaporation or trucking it to special injection wells, is a considerable expense for gas companies.
Oasys Water claims its method for treating water used in fracking is a far more effective option. According to Oasys, its method costs about 25 percent of what it costs to treat this water by conventional methods.
In its release, Oasys said its method uses “the principles of forward osmosis, a natural process that draws fresh water across a semi-permeable barrier to produce potable quality water.”
“The technology provides a cost-effective means to recycle and reuse water while minimizing the impact on the environment,” Oasys Water said.
Oasys Water claims its technology can also be used to eliminate problems associated with wastewater disposal and to preserve fresh water supplies.
Founded in 2008, Oasys Water raised $10 million in Series A funding in early 2009. Venture capital firms participating in the round included Flagship Ventures, Draper Fisher Jurvetson, and Advanced Technology Ventures. Oasys Water has a headcount of about 30 employees.