> Company History
Since its founding in February, 2005, Altela has successfully achieved several major accomplishments in the water desalination/decontamination market. These include:
• Assembling an experienced, talented and well credentialed management team, as well as a committed and prominent Board of Directors.
• Successfully designing, manufacturing, and testing several prototype AltelaRain® systems and modules, and successfully fielding several pilot installations of the AltelaRain® technology at natural gas well sites in southeastern and northwestern New Mexico (San Juan Basin and Navajo Nation); western Colorado (Piceance Basin); western Canada, and the Marcellus Shale of Pennsylvania.
• Acquiring, developing and strengthening an extensive portfolio of Intellectual Property giving Altela the exclusive world-wide patent rights to unique and disruptive water desalination and remediation technologies.
• Successfully acquiring the required environmental permits to discharge our cleaned water to the surface (for irrigation and livestock use as well as aquifer recharge and in-stream water right flows) – as well as provide it back to our oil and gas customers for frac and other well completion needs. These permits include the first-ever environmental permit in New Mexico to surface discharge treated, purified produced water for re-use, the first-ever EPA-based environmental permit for a centralized produced water publicly owned treatment works-based (POTW) treatment facility, and the first-ever Navajo Nation environmental permit to surface discharge treated purified produced water for re-use. Most recently, the PA DEP and the DOE's National Energy Technology Laboratory (NETL), stated that an Altela demonstration project completed last year turned drilling frac water at a western PA gas well into usable water with TDS levels well below 500 mg/L (drinking water level).
These regulatory hurdles, successfully mastered by Altela, now become a barrier to entry for other firms trying to replicate Altela.
• Raising $4.2 million in equity investment from a diversified investor group which includes management, 2 leading oil and gas companies, 3 venture capital firms and several prominent individuals.
• Assembling a highly respected Technical Advisory Board.
• Obtaining water demonstration grants from the State of New Mexico for desalination and decontamination projects, which resulted in legislative approval in 2006 of two grants aggregating $578,000 for demonstration projects for the treatment of produced water at an inner city operating gas well and to treat brackish water for a rural water association.
• Establishing a 23,500-square-foot manufacturing, design, engineering and test facility in Albuquerque, NM.
• Generating revenue with its first product in the field.
• Raising $10.0 million to date; $7.1M of that in a Series A investment in the 3rd quarter of 2007 from current investors and a prominent environment and energy sector firm.
• Focusing on market penetration and manufacturing expansion.
• Assembling an experienced, talented and well credentialed management team, as well as a committed and prominent Board of Directors.
• Successfully designing, manufacturing, and testing several prototype AltelaRain® systems and modules, and successfully fielding several pilot installations of the AltelaRain® technology at natural gas well sites in southeastern and northwestern New Mexico (San Juan Basin and Navajo Nation); western Colorado (Piceance Basin); western Canada, and the Marcellus Shale of Pennsylvania.
• Acquiring, developing and strengthening an extensive portfolio of Intellectual Property giving Altela the exclusive world-wide patent rights to unique and disruptive water desalination and remediation technologies.
• Successfully acquiring the required environmental permits to discharge our cleaned water to the surface (for irrigation and livestock use as well as aquifer recharge and in-stream water right flows) – as well as provide it back to our oil and gas customers for frac and other well completion needs. These permits include the first-ever environmental permit in New Mexico to surface discharge treated, purified produced water for re-use, the first-ever EPA-based environmental permit for a centralized produced water publicly owned treatment works-based (POTW) treatment facility, and the first-ever Navajo Nation environmental permit to surface discharge treated purified produced water for re-use. Most recently, the PA DEP and the DOE's National Energy Technology Laboratory (NETL), stated that an Altela demonstration project completed last year turned drilling frac water at a western PA gas well into usable water with TDS levels well below 500 mg/L (drinking water level).
These regulatory hurdles, successfully mastered by Altela, now become a barrier to entry for other firms trying to replicate Altela.
• Raising $4.2 million in equity investment from a diversified investor group which includes management, 2 leading oil and gas companies, 3 venture capital firms and several prominent individuals.
• Assembling a highly respected Technical Advisory Board.
• Obtaining water demonstration grants from the State of New Mexico for desalination and decontamination projects, which resulted in legislative approval in 2006 of two grants aggregating $578,000 for demonstration projects for the treatment of produced water at an inner city operating gas well and to treat brackish water for a rural water association.
• Establishing a 23,500-square-foot manufacturing, design, engineering and test facility in Albuquerque, NM.
• Generating revenue with its first product in the field.
• Raising $10.0 million to date; $7.1M of that in a Series A investment in the 3rd quarter of 2007 from current investors and a prominent environment and energy sector firm.
• Focusing on market penetration and manufacturing expansion.