Clean Runner raises $19.6M for water-cleaning technology
Portsmouth, N.H.-based Clean Runner, LLC, which cleans the water used in natural gas and oil wells and returns it for reuse without the use of chemicals, has raised $19.6 million in equity, according to federal documents filed Thursday.
The funding comes from 57 investors, but the filing does not name them.
The company, which also has offices in Salida, Colo., uses a proprietary method called PetroCleanse, described as a combination of technologies - including reverse osmosis, electro-coagulation, oil and water separation and mechanical clarification - depending on how pure the incoming production water is. The company touts its chemical-free process as both cheaper that traditional methods and better for the environment.
Clean Runner is owned by Cate Street Capital, also in Portsmouth, N.H., a venture capital firm which also owns six other environmentally-friendly companies throughout the country, including Red Desert in Wyoming, a facility built in 2010 which uses Clean Runner’s technology for exploration so that production water, hydrofracturing chemicals and other drilling fluids can be re-used.
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