ALBUQUERQUE, NEW MEXICO, February 21, 2012 – A unique new technology and system for handling hazardous “produced water,” a troublesome
by-product of the oil and gas industry will be presented by Los Alamos-based IX Power at Technology Ventures Corporation’s (TVC) Deal Stream Summit April 3-5, 2012.
IX Power’s OrganiClear™ technology incorporates a new process created at Los Alamos National Laboratory to clean produced water of dangerous carcinogenic organic hydrocarbon compounds that have the potential to cause illness and birth defects.
“Produced water is a problem for the oil and gas industries because so much of it is created: 200 million barrels every day of the year,” said John R. Grizz Deal, IX Power’s CEO. “Unfortunately, industry has few choices. Companies can either dump it in surface ponds or inject it into deep wells OR they can clean the produced water for use in irrigation, as well as for livestock and human consumption. Most companies involved in these industries want to do what’s right for the environment. We’re offering them a dramatic improvement for the process of cleaning this water that’s not only more effective, but eliminates an additional waste stream. In addition, the IX Power OrganiClear system offers one of the least expensive options for removing carcinogenic organics from produced water.”
Technology Ventures Corporation’s Deal Stream Summit (formerly known as the New Mexico Equity Capital Symposium) will be held at the Hyatt Regency Tamaya Resort and Spa at the Santa Ana Pueblo in New Mexico. Designed to facilitate private investment partnerships among emerging technologies within federal laboratories and startups, and entrepreneurs and investors, the Summit provides a stimulating platform for the presentation of intriguing and important new technologies as well as keynote addresses and pertinent panel discussions. Through the years the event has provided opportunities for hundreds of companies to receive funding and has fueled the commercialization of laboratory R&D and IP. Of the companies that presented at this forum, some 30 percent have received funding, which is a remarkable record.
IX Power is a unique technology commercialization company that works to facilitate baseload power and clean water in isolated and developing regions around the world. The experienced founders of the IX Power team aim to accomplish their objectives by combining the most appropriate existing energy design, engineering, and construction techniques, with the use of cutting-edge technical innovations and agile development teams.