Sourcewater

Sourcewater is a startup that emerged from MIT Energy Ventures with a mission to revolutionize the water management within the energy production sector. With a compelling slogan of “Connecting energy producers with water solutions to cut costs, ensure reliability, and protect communities,” Sourcewater has positioned itself as the digital platform for sourcing, recycling, transporting, and disposing of water for energy production, tapping into the lucrative $20 billion market in the U.S. The company's innovative service brings together suppliers of water, wastewater, trucking, treatment, storage, and disposal with energy producers, ultimately reducing both capital and operational expenses in oil and gas production. This not only ensures a reliable water supply chain but also mitigates the environmental and community impact of hydraulic fracturing, a critical concern in the industry. Their efforts have gained recognition as they secured a significant $7.20M Series A investment on 03 September 2019, with investment from Bison and Marubeni, underpinning the industry's confidence in Sourcewater's potential. Working at the intersection of Energy, Oil and Gas, and Water industries, Sourcewater has not only identified a pressing need but has also set out to address it comprehensively. For water sellers and service providers, Sourcewater offers a marketing platform that lowers sales costs and enhances utilization and profitability, further solidifying its position in the market. As Sourcewater continues to gain momentum in its endeavors, the company proves to be a compelling investment opportunity for venture capitalists seeking innovative solutions at the intersection of technology and essential industries, particularly with its strong financial backing and industry support.