> 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 AltelaRainSM systems, and successfully fielding several pilot installations of the AltelaRainSM technology at two natural gas well sites in southeastern and northwestern New Mexico.
• 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. 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 - 5 systems in operation at natural gas wells in the San Juan Basin.
• 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 AltelaRainSM systems, and successfully fielding several pilot installations of the AltelaRainSM technology at two natural gas well sites in southeastern and northwestern New Mexico.
• 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. 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 - 5 systems in operation at natural gas wells in the San Juan Basin.
• 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.