IHS, the leading source of insight, analytics and expertise in critical areas that shape today’s business landscape, has named Sourcewater, Inc. an Energy Innovation Pioneer for 2016. Sourcewater will be featured at CERAWeek, the world’s premier energy industry gathering, to be held February 22-26 in Houston. Sourcewater, a spinout from MIT’s Energy Ventures program, is the first online marketplace for sourcing, transporting, recycling and disposing of water for the energy industry. The company fits with this year’s CERAWeek theme, “Energy Transition: Strategies for a New World,” as Sourcewater uses the Internet to minimize the single largest cost of onshore energy operations, water management, while creating market incentives to reduce the environmental impact of energy production.
Sourcewater’s founding chief executive Joshua Adler will speak at CERAWeek on several occasions, alongside U.S. Energy Secretary Ernest Moniz, President of Mexico Enrique Peña Nieto, Federal Reserve Vice Chairman Stanley Fischer, U.S. Senator Lisa Murkowski, the President of Iceland, General Electric CEO Jeffrey Immelt, and the chief executives of Shell, Siemens, ConocoPhillips, Pioneer, Hess, Exelon, Devon, and Chesapeake.
Adler will present as part of the IHS Energy Innovation Pioneers program, held annually in conjunction with IHS CERAWeek. The program recognizes companies whose technologies and businesses exemplify innovation, creativity, feasibility and timeliness, scalability and quality of management. The Pioneers are successful entrepreneurs who are developing future pathways for the industry.
Adler stated: “The rise of hydraulic fracturing has made water the largest input and output of energy production, and the largest cost in upstream operations. Energy companies have to transition to technological innovations that minimize their water sourcing, transport and disposal cost while improving their environmental stewardship if they hope to survive in this new world of low commodity prices and public scrutiny. Sourcewater brings the power of the Internet to the water supply chain. We are honored that IHS has recognized Sourcewater as an Energy Innovation Pioneer.”
Sourcewater, a spinout from MIT’s Energy Ventures program, is the water exchange for the energy ecosystem. It is the first online exchange for sourcing, transporting, recycling and disposing of water for oil and gas production, a $50 billion U.S. market. The marketplace enables energy companies to minimize their single largest operating cost, water management, ensure a reliable mission-critical water supply chain, and reduce the environmental and community impacts of energy production. Sourcewater launched in 2015 and has already registered over 150 companies as users including many of the leading E&Ps. One billion barrels of water are now available for purchase or recycling on Sourcewater.com.
Note: Access your free tour of Sourcewater’s online marketplace and water intelligence platform. Schedule yourself on our calendar by clicking here.
About Joshua Adler
Joshua Adler is a serial entrepreneur, veteran dealmaker and world-class communicator who has founded energy, real estate, medical technology and Internet companies. He has raised, managed and invested hundreds of millions of dollars and served as chief speechwriter for the United States Treasury Department. He is a graduate of Yale University and the Massachusetts Institute of Technology, where he was a Sloan Fellow for Innovation and Global Leadership in Energy Ventures. His writing has appeared in The New York Times, The Wall Street Journal, The Washington Post, and The Economist. In December 2015, Adler argued in The New York Times for the repeal of the U.S. energy export ban, writing: “For as long as the world uses hydrocarbons, it is plainly in the United States’ economic, geopolitical and environmental interest to produce that energy here, with American workers and oversight.”
For more information, contact:
Joshua Adler, CEO