Every year, oil and gas companies spend billions of dollars to dispose of their wastewater. But at least some of that water—and those billions of dollars—could be saved by recycling and reusing it instead. Now, thanks to a new investment, one water purification company in the National Alliance of Water Innovation (NAWI), Crystal Clearwater Resources, LLC (also known as CCR), can continue to advance their promising wastewater treatment technologies, so industries with wastewater streams can save water, energy, money, and even the planet.
CCR’s mission is to provide companies with clean technologies that can help them lessen their environmental impact by boosting their sustainability. Their clean tech could also help create new sources of freshwater to help increase the United States’ supplies.
“This investment is not just a testament to what our team has achieved so far but also a vote of confidence in our vision for the future,” said Derek Pedersen, CCR’s co-founder and CEO, in a recent press release.
The company received their Series-A funding from Texas-based Elk Mountain, Ltd.
“We’re thrilled to back CCR in this next chapter of their growth,” said Elk Mountain, Ltd.’s Russell Gordy. “Their unique approach to treating challenging wastewater streams and impressive traction in the market makes them a standout in the industry.”
The water treatment technology is designed to recover more purified water from wastewater generated by the oil and gas industry, manufacturing, municipal water recovery facilities, and mining. The technology can also decrease costs and greenhouse gas emissions associated with disposing of wastewater.
The investment will also enable CCR to scale their operations to reach new markets in new industries and geographical regions. CCR will also pilot and launch its novel proprietary technology and design new solutions that can tackle emerging challenges in wastewater treatment.
“We are deeply grateful for this opportunity and partnership with Elk Mountain, Ltd.,” said Pedersen.