HaloSource Enters Petrochemical Market
The contract with Industrial Dewatering Intl. represents a revenue opportunity of more than $1 million for HaloSource over the next three years
HaloSource Inc. and Industrial Dewatering Intl. LLC (IDI) announced a new partnership to distribute the HaloKlear line of environmental water technology products to oil and gas industry companies in Texas and New Mexico. With exclusivity minimums maintained, the contract represents a revenue opportunity of more than $1 million for HaloSource over the next three years.
IDI already has Master Service Agreements in place with industry players—including XTO, Enterprise Products and Kinder Morgan—and expects to expand its business with the addition of HaloKlear to its portfolio. The technology will enable customers to achieve cost savings by choosing green solutions. Using HaloKlear will allow on-premise water to be recycled with no settling time.
“It is exciting to enter the multi-billion dollar oil and gas industry with our clean water technology," said Martin Coles, president and CEO of HaloSource. "This has been a major objective for us which we are delighted to have achieved. Our biopolymer-based technology matched with IDI’s technical, application and mobility knowledge will deliver economically competitive solutions utilising greener chemistries. Understanding and positively impacting the effects of the water-energy nexus is directly in line with our core value of delivering solutions that protect our most valuable resource.”