Purestream Services LLC and John Swire and Sons Inc., a subsidiary of John Swire & Sons Ltd., are pleased to announce a capital funding transaction that will allow Purestream to continue to expand its activities in oilfield water treatment and other water treatment markets.
Purestream is a water services company formed in 2010 with a focus on designing and building water treatment systems to treat produced and frack flow-back water for discharge and re-use in the oil and shale gas industry. Purestream has developed state of the art, vapor recompression brine concentration and desalination technology along with single cell induced-gas flotation (IGF) systems for water reuse.
Under the terms of the agreement, John Swire & Sons Inc. will provide funding to Purestream that will enable the company to maximize the enormous business opportunities arising from the robust demand for both dynamic water treatment and management capabilities as a result of increased drilling in areas such as the Permian Basin and Eagle Ford in Texas, and the Bakken, primarily in North Dakota. As part of the agreement, Andy Hunter, chairman of Swire Water Solutions, will join the Purestream Board.
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