Saltworks Technologies receives funding boost from BP Ventures

Canadian water treatment company Saltworks Technologies has received investments from BP Ventures, to further develop its desalination technology.

Based in Vancouver, Canada, Saltworks offers technology solutions aimed at global water scarcity management.

Chiefly designed for the oil and gas industry, the solutions use saline water sources instead of freshwater sources, or recycled wastewater and produced waters.

The firm is involved in developing innovative desalination procedures, which can produce freshwater from saline sources at reduced energy and cost. It chiefly uses challenging water sources found across industrial settings, such as shale gas, oil sands and mining, to come up with its inventions.

The investment follows successful pilots between Saltworks and oil and gas firm BP, which is the parent company of BP Ventures.

Saltworks CEO Benjamin Sparrow said: "BP’s investment will immediately go to work as we construct our new manufacturing facility and further grow our field operations team.

"After successful product uptake in Australia, California, Texas and Pennsylvania, we are extremely pleased to welcome BP to our shareholder base.

"BP’s investment will increase our scale and our reach."

Cenovus Energy, ConocoPhillips and Teck Resources are among other firms that have invested in the Canadian company.