Dallas-based private equity firm Tailwater Capital announced on Monday an equity commitment in Renovo Resources, a newly created company that will develop greenfield-produced water treatment projects across North America, according to a news release.
Renovo is an asset development company that provides turnkey-produced water treatment solutions to a blue-chip customer base across the energy and industrial sectors. Led by CEO Lnsp ‘Naggs’ Nagghappan and a group of executives with nearly 100 years of combined experience, Renovo anticipates executing on several commercial opportunities to support customers, municipalities and communities to address critical water needs. Renovo will still operate from its headquarters in Irvine, Ca.
“Tailwater’s unmatched infrastructure business-building expertise will support our mission to establish Renovo as the leading turnkey water treatment solutions provider in several critically important regions in the market,” Nagghappan said in the release. “Our solution generates a reliable new source of fresh water and protects precious resources for municipalities, industries and farming communities as water stress becomes a growing environmental concern across North America.”
According to the release, energy and industrial companies, today are actively seeking improved alternatives for the disposal of water byproducts to not only create an immediate impact but also align with their long-term environmental, social and governance objectives. Renovo’s environmentally sustainable solutions will address this increased demand by treating produced water for beneficial reuse.
Read the full story at Dallas Business Journal.