Oil and Gas Sector Provide Growing Opportunity for Clean Water Technologies
WORCESTER, Mass., June 7, 2012 /PRNewswire/ — Extractive industries in the oil and gas sector represent a growing market opportunity for companies with new water treatment technologies such as ThermoEnergy, (OTCBB: TMEN) (www.thermoenergy.com) CEO Cary Bullock said in reaction to a recent article in Environmental Finance magazine. The article is available at: http://oilprice.com/Energy/Energy-General/Water-Treatment-Offers-Good-Investment-Opportunities-thanks-to-Oil-Gas.html
The article noted that oil and gas producers use large volumes of water and need technologies to clean contaminated water and manage the disposal of hazardous waste. ThermoEnergy is ready to help, Bullock said.
ThermoEnergy’s water division is a leading provider of custom designed, turn-key wastewater treatment, chemical recovery and water conservation and reuse systems to remove, recover, and recycle chemical and metal residuals in industrial wastewater. ThermoEnergy is an integrated technologies company engaged in the worldwide development and sales of sustainable technologies for wastewater recovery and clean energy production. Bullock noted that ThermoEnergy’s CAST® and RCAST® (Controlled Atmosphere Separation Technology) systems are today’s most economical and efficient technologies.
Environmental Finance cited research released by Global Water Intelligence (GWI) which valued the worldwide mining water treatment market at $7.7 billion in 2011, which is expected to reach $13.6 billion by 2014. GWI said that water treatment in the oil sector was $5.03 billion in 2010 and is expected to rise to $9.9 billion by 2025.
Shale gas extraction from fracking is a technology that is spreading from North America to Europe and Asia, Environmental Finance noted, with China, Poland and Argentina potentially representing the largest opportunities outside of North America.
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SOURCE ThermoEnergy Corporation