New Startup Helps people in the Oil and Gas Industry to Connect Online to Reduce Environmental Impac
Author: MIT NEWS
Contributor: IP Precise
Sourcewater, a creation of MIT alumnus Josh Adler, utilizes a matchmaking approach for helping people in the oil and gas industries connect via online services. The focus is to facilitate those companies finding most cost effective ways for transporting, recycling water, and overall reducing environmental impact.
At the moment Sourcewater has dozens of companies such as Shell, and M Pennsylvania General Energy which utilizes its services and about 1.4 billion barrels of water listed online.
Provides its users with a list of various water-based services such as treatment facilities, and wastewater; users have access to tailor the list to their needs by filtering various categories such as price, volume, produced per day, location and other variables.
Bidding on treating and transporting the water is available to shippers and treatment facilities and companies are able to propose to take away the wastewater for its own purposes. According to the founder Adler, Sourcewater is considered “an Expedia for water management,” there are many offers, a firm can choose to best fit its budget and schedule.
Sourcewater, further targets providing wastewater as a manageable commodity that can be effectively disposed and recycle at an advantageous cost. The idea embraces a concept of finding an appropriate trade for nonfresh water (which is more available in the water chain than fresh water) and managing its use and disposal in a way that benefits all, including the environment.
In areas where disposal wells aren’t prominent, but, fracking is, trading nonfresh water can save operators money and transportation fuel. According to Adler if a fracking firm can sell its wastewater at a lower price than fresh water, to another firm in the vicinity, both parties can benefit.
Sourcewater has many plans for the near future such as developing a base using a smartphone app connected to sensors for tracking, measuring, and verification of water pickups and delivery. Secondly, it aims to become a type of Google search platform for water-based resources. To learn more about Sourcewater contact IP Precise.