Infinity Water Solutions makes a splash in the Permian Basin
A pioneer in the oil and gas industry, Infinity is revolutionizing how operators gather, recycle, store and source (on-demand) water for production in the Permian Basin.
AUSTIN, Texas – September 22, 2022 (Infinity Water Solutions release) — Infinity Water Solutions an Austin, Texas-based, venture-backed sustainability startup raised $8 million during its latest funding round. A pioneer in the oil and gas Industry, Infinity is revolutionizing how operators gather, recycle, store and source (on-demand) water for production in the Permian Basin.
The oversubscribed Series A was led by local early-stage investment firm, Mako Strategies, as well as other capital partners. It follows a $4 million seed round that was further substantiated with a $10 million credit facility investment announced last spring. Infinity’s total funding is up to $22 million.
“Water stewardship is top of mind for operators, legislators and the community. They are all looking for alternatives to an already stressed and scarce resource,” said Michael Dyson, chief executive officer of Infinity Water Solutions. “What we’re doing today is infinitely better than the status quo. Our hope is that as we evolve, with more funding and research, so, too, will our environmental impact across multiple sectors.”
Designed to enhance water security, sustainability and resiliency, Infinity uses green infrastructure and clean technology to manage the water and wastewater needs of Permian operators in both Texas and New Mexico. By alleviating their dependency on freshwater, and recycling and reusing as much produced water as possible, Infinity has accelerated conservation rates and the pace at which many sustainability goals can be met.
Since launching in 2019, Infinity has invested heavily in a robust water-sharing network covering more than 150,000 acres. With 45 miles of pipeline built or in permitting, and another 30 planned, Infinity’s throughput capacity will be more than 225,000 barrels daily.
Equally aggressive is the storage capacity of Infinity’s Northern Network, which is expected to hover at an inventory level of just over 6 million barrels (250 million gallons).
“We’re in the midst of an energy transition and this is a game-changer for the industry,” said Chris Caudill, president and chief financial officer of Infinity Water Solutions. “Though with the team we have in place, I’m not surprised. The caliber of leadership and talent that we have at the table is remarkable.”
With funding secured, infrastructure on the ground, proprietary technology in hand, and superior leadership in the boardroom, Infinity is positioning itself as the premiersolution to one of the Oil and Gas Industry’s toughest environmental challenges: water.
Read the official press release from Water Technology here.