DENVER, Oct. 8, 2010 (GLOBE NEWSWIRE) -- Produced Water Solutions, Inc., ("PWS") a technology driven water purification and services provider to the Oil and Gas Industry, announced that it has executed a term sheet for a $20M multi-year financing facility for its proven produced water recycling mobile treatment systems that will be operated throughout the US.
Produced water recycling provides many benefits to Oil & Gas Exploration companies by reducing their operating costs while mitigating potential environmental impacts of drilling and production fluids. PWS has developed and commercialized mobile treatment systems that treat contaminated production water and enable its customers to recycle and reuse this water in the fracturing process thereby minimizing the amount of fresh water resources and chemicals used in the fracturing process.
George Kast, Founder and CEO of PWS, stated, "Upon completion, of this financing facility it will enable us to accelerate the deployment of our proven technologies. Our mobile treatment facilities provide both economic and environmental benefits to our customers. We look forward to supporting their efforts to recycle and reuse water resources and limiting the environmental impacts of drilling and exploration."
ABOUT PRODUCED WATER SOLUTIONS:
Produced Water Solutions, Inc. is a Colorado based private company which provides water treatment and recycling services through its innovative technologies, focused on the Oil and Gas Markets. The company utilizes its proprietary technologies and service programs to increase operating efficiencies and reduce disposal costs through comprehensive produced water management and disposal solutions.
The Produced Water Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7620