Cate Street Capital To Invest $60 Million In Clean Runner Oil And Gas Drilling Water Treatment Company
Cate Street Capital, (CSC) a national leader in developing green technology companies, has doubled capacity at its Red Desert water treatment facility in Wyoming, which uses the proprietary Clean Runner process to clean produced water from oil and natural gas drilling operations. In addition to expanding Red Desert, CSC plans to build ten similar facilities near oil and gas exploration centers around the country over the next two years.
Portsmouth, New Hampshire (PRWEB)
Wyoming's Red Desert Water Reclamation Center Capacity Is Doubled;Ten More Clean Runner Facilities Projected; Cate Street Capital to Invest Another $40 million in Clean Runner over next 24 months.
Cate Street Capital, (CSC) a national leader in developing green technology companies, has doubled capacity at its Red Desert water treatment facility in Wyoming, which uses the proprietary Clean Runner process to clean produced water from oil and natural gas drilling operations. In addition to expanding Red Desert, CSC plans to build ten similar facilities near oil and gas exploration centers around the country over the next two years. Oil and gas drilling produces large amounts of water, much of which is contaminated with oil, hydro fracturing chemicals and mineral solids. Clean Runner technology offers a low cost, non-polluting method for recovering 80-90% of the water for re-use. Traditional disposal methods such as injection wells and evaporation ponds do not allow for re-use of any water.
John Hallé, President and CEO of Cate Street Capital, which owns Clean Runner and the Red Desert facility, says, “Red Desert Reclamation has provided a platform to refine our technologies and processes. We are very pleased with the progress our team has been able to achieve in a very harsh environment with tight time constraints. We’ve been running virtually twenty-four seven – and the increasing demand for our service requires doubling our capacity. Now we are taking Clean Runner to a new level by strategically locating new facilities where oil and gas drilling will be occurring across America.”
CSC, headquartered in Portsmouth, NH, plans to build ten additional facilities over the next 18-24 months that will treat 20,000 barrels per day each. It plans to, invest another $40 million into Clean Runner technology, bringing its total Red Desert and Clean Runner investment to $60 million. Basins under consideration for additional facilities include locations in:
• North Dakota
• New Mexico
Judson Cleveland, Clean Runner CEO, says, “The oil and gas exploration industry is actively seeking water treatment partners. Clean Runner is positioned to provide turn-key water services at competitive prices to companies who demand consistent service. Clean Runner’s proprietary water treatment process, combined with our strategically placed facilities, will meet their needs.”
Cleveland noted the Red Desert facility, since it opened in October 2010, has been successfully treating and recycling produced and fracking water for some of the industry’s largest oil and gas producers. He added, “We’ve spent over 18 months evaluating oil and gas basins to assemble a very detailed plan for site selection. We are excited to announce our next ten target locations; because the industry is demanding more of the service we have been offering at Red Desert.”
Clean Runner’s pioneering water reclamation system is a dedicated treatment system that is scalable for the volume of water produced in the oil and gas field. The system incurs no accumulated wastes or liabilities and allows for safe and environmentally conscientious disposal of all contaminants. It is truly a unique service for all water used in the oil and gas industry.
In addition to environmentally friendly water treatment technology, CSC is also investing in forest products, renewable energy and recycled resources. Each CSC subsidiary is committed to innovative, “green” solutions, given an increase in environmentally-harmful industrial practices. CSC identifies breakthrough technologies and solutions and invests resources into testing, perfecting and bringing them to market.
Cate Street Capital has locations in New Hampshire, Maine, and Colorado.
View original release here: http://www.prweb.com/releases/2012/7/prweb9694712.htm