For Immediate Release
Sourcewater was selected as one of ten international finalists out of 90 entrants worldwide for the Imagine H20 Water Data Challenge, the most established and prestigious water tech startup competition. Sourcewater will join Imagine H20’s portfolio of over 60 water technology companies, which collectively represent over 10% of all early-stage investment in the water sector. Other benefits include $50,000 in cash awards, access to the Imagine H20 7th Annual Accelerator Program, introductions to leading investors, utility partners and beta customers, mentorship by industry leaders, and exclusive visibility at the industry’s largest conferences.
The Accelerator Program uniquely serves as a path-to-market program for water startup companies specializing in data-based solutions to contemporary water challenges. Imagine H20 will honor finalists with a celebration on March 16, 2016 in San Francisco. Sourcewater founding CEO Josh Adler said, “Sourcewater is honored to be selected as a finalist for Imagine H2O’s Water Data Challenge. This recognition highlights Sourcewater’s great potential to bring efficiencies to a vast range of water markets, not just in our native energy industry, but the wide array of agricultural, municipal, commercial and industrial uses that comprise most of our global water consumption. There are tremendous opportunities for Sourcewater to apply market dynamics to improve the allocation of water resources worldwide, most notably in creating markets for the productive use and recycling of non-freshwaters previous ignored or discarded, thereby freeing scarce freshwater for essential human consumption and environmental conservation.”
Imagine H20 supports water entrepreneurs not only through resources and insights but through raising their visibility to launch and scale their businesses effectively. Imagine H20’s work is to find the viable data and analytical tools that are urgently needed to manage the world’s water resources. “It will be impossible to tackle the global water challenge without basic data about our water resources,” said Imagine H2O’s VP of Programming Tom Ferguson. “These companies address some of the most pressing data problems in water, from utility process control to high accuracy weather forecasting.” Sourcewater is changing the business model for water and water services by enabling 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.
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Finalists were selected based on their market viability, value proposition, and go-to-market strategy by a panel of judges that included Andy Wheeler of Google Ventures, Paul Gagliardo of American Water, Peter Williams of IBM, Steven Kloos of True North Venture Partners and Karen Golmer of the New England Water Innovation Network. The program is backed by reputable financial supports such as Wells Fargo, Suez North America Foundation, Tetra Tech, Morrison Foerster and the California Water Foundation.
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. Our 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.
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 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.”
Joshua Adler, CEO