CAMBRIDGE, MA--(Marketwired - Oct 23, 2014) - Sourcewater, an MIT spin-off addressing the critical challenges at the intersection of water supply and energy production, today issued a research report detailing the significant immediate and long term benefits available to the unconventional energy production industry through the use of a web-based marketplace for buying and selling water. The report, "Stronger Water Practices for the Future," can be downloaded here: http://bit.ly/1rqm9Sc
The world's first online marketplace for sourcing, recycling and disposing of water in the energy ecosystem, Sourcewater.com brings water management for energy companies and their suppliers into the Internet age. Conceived of, designed and developed by water and energy experts at MIT, the site matches energy companies with produced water, impaired water and freshwater sources to maximize wastewater recycling, secure water supply chains and minimize water acquisition costs. Sourcewater.com will go live later this fall.
Company Founder and CEO Joshua Adler is sharing highlights of the study at the American Water Summit 2014 in Houston, TX, the only water industry event focusing entirely on the business of water in North America. A thought leader committed to advancing more efficient approaches to securing and using water in energy production, Adler was invited to join this afternoon's panel, Water & Energy: Planning for the Future. Conference speakers also include The Wall Street Journal Senior Energy Reporter Russell Gold, author of The Boom, along with top executives from organizations such as the U.S. Water Alliance, The Nature Conservancy, Devon Energy, The Dow Chemical Company and Halliburton.
For the "Stronger Water Practices for the Future" report, social systems design lab Thicket built a computational model to demonstrate how Sourcewater.com can help overcome the most challenging obstacles at the heart of the water/energy production nexus. Drawing on a set of 43 concepts that comprise the system of water use and exchange in the unconventional energy industry, key impacts include:
- Economic: Sourcewater creates a marketplace for water; reduces water management costs; reduces risk of supply disruption; and strengthens regional water markets.
- Environmental: Sourcewater increases wastewater recycling; improves water supply resiliency; and decreases environmental risks.
- Social: Sourcewater increases public trust; improves resource distribution; strengthens water management and decision-making; and lays the groundwork for a water commodities market.
Specific to the importance of creating new business models and markets to overcome the water crisis, The Hamilton Project this week convened a session at Stanford University keynoted by California Governor Jerry Brown, Facebook's Sheryl Sandberg and former Treasury Secretary Robert Rubin, involving dozens of top-ranking public and private sector executives. In papers issued concurrently, the group states that "the United States needs to restructure its approach to water management and create institutions that would make water allocation more flexible and resilient, so that users of water can thrive even in the face of substantial disruption of supplies. Water markets represent an important tool for achieving that flexibility and resilience."
Members of the media or market research analyst communities interested in meeting with Sourcewater Founder and CEO Joshua Adler at the American Water Summit 2014, or scheduling a call or meeting at a different time, may schedule those appointments by contacting Chris Conway at CHEN PR (firstname.lastname@example.org or 781.672.3113).
Sourcewater is bringing to market Sourcewater.com -- the first online exchange for water, creating market incentives for the energy industry to recycle wastewater and conserve freshwater resources while enhancing the security of water supplies. The company was founded by serial entrepreneur and former U.S. Treasury official Joshua Adler, an MIT Sloan Fellow for Innovation and Global Leadership in the Energy Ventures Program. The leadership team includes experts in water, energy production, web design and public policy who have been on staff or consulted with organizations that include Shell, Chevron, Mekorot (Israel's national water company), IHS, SAP, the US Department of Energy, MIT and McKinsey & Company. For more information, visit www.sourcewater.com.
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