GOLDEN, CO, July 26, 2018– Water technology is one of the most promising opportunities for investors today, and IX Power Clean Water is now providing people with an eye toward the future an opportunity to participate in the lucrative $150 billion per year industry focused on “produced water” from oil & gas, mining, and manufacturing. The company announced today its Rule 506(c) Series B offering with placement agent Frederick & Company, Inc. investfrederick.com/offerings.
Based on its current valuation, capital structure and industry dynamics IX Power Clean Water’s Series B has a potential for an 8-10 x return on investment within a 36-48 month timeframe.
IX Power Clean Water (aka IX Water) offers commercially available new solutions for cleaning community drinking water and for safely dealing with highly toxic “produced water” that is up to 96% less expensive and much more environmentally friendly than the common procedures of transporting and reinjecting this troublesome by-product.
The new technology offered by the company was developed under the direction of the Department of Energy (DOE) and in an R&D collaboration spanning 10 years with scientists at Los Alamos National Laboratory, the University of Texas and the New Mexico Institute of Mining and Technology. IX Water obtained the exclusive global rights for the commercialization of the water technology via the DOE’s tech transfer program. A number of international projects are underway utilizing the technology. The funding raised in the Series B offering will finance a global marketing and sales initiative.
Given the purchasing nature of the Company’s market verticals (50% down/40% with install/10% balance in 30 days) allows all the assembly manufacturing and material costs to be covered with the down payment. In concert with “Just in Time” manufacturing methods, IX Water should not require additional capital beyond the Series B raise.
The company, led by CEO John R. Grizz Deal, was founded in 2012 by a team that has successfully commercialized other technology initiated by the DOE and Los Alamos National Laboratory. Funding for the company in Series A was accomplished with individual investors.
“Now we are ready to market the technology for both produced water and drinking water beyond early adopters,”said Deal. “The Series B funding will expedite a ramp up that will increase the size and sales for the company exponentially.”
Produced water generated by oil & gas operations, mining and manufacturing is some of the most dangerous water on the planet. It contains organic hydrocarbons, metals, metalloids, scalants, and naturally occurring radioactive materials that can cause birth defects, nervous disorders, cancer, damage to vital organs, and, with enough direct exposure, immediate death for people, livestock, wildlife, crops and other plant material.
Contact with the environment and population is feared by many all over the globe – from county commissioners in Oklahoma monitoring oil & gas operations, to international health organizations watching produced water destroy crops and sicken villages in West Africa. Unfortunately, because the cost of traditional methods for dealing with produced water is so high, many companies and factories do not dispose of it safely and it infiltrates into rural and urban water resources.
IX Water’s scalable new technology removes 99.95% of the toxins in produced water without introducing any additional chemicals or creating a mass of hazardous waste. It provides water so clean that it can be safely reused for crop irrigation, livestock watering, or even human consumption.
The technology utilizes a proprietary media which adsorbs hazardous materials on the surface rather than being absorbed into the media. This media can be “re-charged” over and over for re-use. Currently, IX Water is cleaning water for safe re-use at a cost of $0.17 to $0.47 per barrel. This is in stark contrast to the $2.50 to $10 per barrel the oil & gas industry is currently paying for trucking and reinjecting this deadly by-product into the ground.
The IX Water system operates in real-time and is comprised of standardized modules that can be connected for unlimited scalability. Each transportable IX Water OG module treats 2,000 – 2,500 barrels of water per day. These modules can be ganged together to create system large enough to treat up to 50,000 barrels per day. In addition to the systems themselves, IX Water Clean Power installs each system, and can do so either as a stand-alone operation or integrated with an existing system. The company also provides training, technical support and maintenance even though the IX Water OG systems are simple enough for a part-time operator to manage all functions.
IX Water Clean Power is also collaborating with regional partners to provide industry with a complete turn-key system and/or treatment operations on a per-barrel basis.
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