Aris Water Solutions, Inc. Selected for Research Grant by the Department of Energy
HOUSTON, December 14, 2023--(BUSINESS WIRE)--Aris Water Solutions, Inc. (NYSE: ARIS) ("Aris," "Aris Water," or the "Company") announced today that the Company was selected by the Department of Energy ("DOE") to receive a research grant related to the treatment and desalination of produced water as an irrigation source for non-consumptive agriculture. Building on Aris’s ongoing efforts to further beneficial reuse of treated produced water outside of the oil and gas industry, the grant is recognition of Aris’s continued progress in enhancing water sustainability in the Permian Basin.
"We are extremely proud to be recognized by the Department of Energy and are grateful for their continued support of our beneficial reuse development efforts," said Amanda Brock, President and CEO of Aris Water. "In addition to the continued success and growth of our core water infrastructure, handling and recycling business in the Permian Basin, we continue to lead collaborative industry efforts to identify and pilot differentiated technologies to treat produced water for various applications including agriculture, mineral extraction, industrial processes and aquifer replenishment. This grant, alongside the continued support of our industry partners and regulators, will help further enhance our treatment capabilities."
The grant allows Aris to further expand its successful greenhouse study with Texas A&M AgriLife, which uses treated and desalinated produced water to grow cotton and grasses. In addition to the grant from the DOE, a wide range of partners from academia, agriculture, and the oil and gas industry will contribute to this ongoing study led by Aris. The study is designed to demonstrate and optimize field-scale produced water treatment and desalination which is customized for agricultural irrigation applications.
In addition, the study will also be expanded to evaluate the extraction of valuable minerals and constituents contained in the produced water, such as ammonia, with the objective of investigating direct-use products for the agriculture industry. Importantly, the study will also support further evaluation of carbon sequestration benefits that are related to specific agricultural applications using treated produced water.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by the Company based on management’s experience, expectations and perception of historical trends, current conditions, current plans, anticipated future developments, expected financings, technology developments, regulatory frameworks and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include the risk factors and other information discussed or referenced in the Report under the heading "Cautionary Statements" as well as in the Company’s most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Information on the Company’s website is not part of this press release.
About Aris Water Solutions, Inc.
Aris Water Solutions, Inc. (NYSE: ARIS) is a leading, growth-oriented environmental infrastructure and solutions company that directly helps its customers reduce their water and carbon footprints. Aris Water delivers full-cycle water handling and recycling solutions that increase the sustainability of energy company operations. Its integrated pipelines and related infrastructure create long-term value by delivering high-capacity, comprehensive produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin. Additional information is available on our website, www.ariswater.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231214118151/en/
Contacts
David Tuerff
Senior Vice President, Finance and Investor Relations
(281) 501-3070
IR@ariswater.com
