CAMBRIDGE, Mass., November 25, 2014
Sourcewater, an MIT spin-off addressing the critical challenges at the intersection of water supply and energy production, today announced that company founder Josh Adler will address the Cowen & Company 4th Annual Ultimate Energy Conference. The event will be held December 2-3, 2014, at the New York Hilton Midtown in New York.
Adler will present on December 3, 2014, at 3:35 p.m. ET. Underscoring its differentiated solution and large, immediately addressable market opportunity, Sourcewater is one of only a handful of private companies invited to speak.
The world’s first online marketplace for sourcing, recycling and disposing of water in the energy ecosystem, Sourcewater.com brings water management for energy companies and their suppliers into the Internet age. Conceived of, designed and developed by water and energy experts at MIT, the site matches energy companies with produced water, impaired water and freshwater sources to maximize wastewater recycling, ensure water supply chains against disruption and minimize water management costs. Sourcewater.com will go live in the coming weeks.
Sourcewater recently issued a research report – Stronger Water Practices for the Future – detailing the significant immediate and long term benefits available to the unconventional energy production industry through the use of a web-based marketplace for buying and selling water. Authored by social systems design lab Thicket, the report can be downloaded here: http://bit.ly/1rqm9Sc
Multiple research studies issued recently by the World Economic Forum (WEF), the World Resource Institute (WRI), Ceres and others underscore the increasingly severe challenges at the heart of the water/energy production nexus – and the immediate need to address them. Citing water crises as a top-three global risk, the WEF report calls out “a continued and growing awareness of the global water crisis as a result of mismanagement and increased competition for already scarce water resources…”
Specific to the energy sector, a report from Wood Mackenzie, Ltd., states: “With expected increasing regulatory uncertainty and water constraints, water poses a variety of business risks for the energy industry. These include limited access to sources of supply, delays in project developments, increasing costs and asset downtime.”
Note: Access your free tour of Sourcewater’s online marketplace and water intelligence platform. Schedule yourself on our calendar by clicking here.
Highlighting the importance of creating new business models and markets to overcome the water crisis, The Hamilton Project last month convened a session at Stanford University keynoted by California Governor Jerry Brown, Facebook’s Sheryl Sandberg and former Treasury Secretary Robert Rubin, involving dozens of top-ranking public and private sector executives. In papers issued concurrently, the group states that “the United States needs to restructure its approach to water management and create institutions that would make water allocation more flexible and resilient so that users of water can thrive even in the face of substantial disruption of supplies. Water markets represent an important tool for achieving that flexibility and resilience.”
Members of the media or market research analyst communities interested in meeting or scheduling a call with Sourcewater can contact Chris Conway at CHEN PR (email@example.com or 781.672.3113).
Sourcewater is bringing to market Sourcewater.com – the first online exchange for water, creating market incentives for the energy industry to recycle wastewater and conserve freshwater resources while enhancing the security of water supplies. The company was founded by serial entrepreneur and former U.S. Treasury official Joshua Adler, an MIT Sloan Fellow for Innovation and Global Leadership in the Energy Ventures Program. The leadership team includes experts in water, energy production, web design and public policy who have been on staff or consulted with organizations that include Shell, Chevron, Mekorot (Israel’s national water company), IHS, SAP, the US Department of Energy, MIT and McKinsey & Company. For more information, visit www.sourcewater.com.
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