Austin fracking tech developer raises portion of funding round

Dec 30, 2014
Austin Business Journal

Omni Water Solutions Inc., a fracking technology developer, reported raising $4.6 million of a planned $6 million financing

The Austin-based company collected the capital from 13 investors, according to a Monday filing with the U.S. Securities and Exchange Commission

Omni Water, which was founded in 2010, develops water treatment technology for hydraulic fracturing operations, the process used to extract oil and gas by injecting highly pressurized streams of water and chemicals into shale rock formation. The company markets its product to enable oil companies to recycle water used in fracking

The company has been steadily raising rounds of investment capital since 2011. In August, Omni Water Solution reported raising $1.8 million of a planned $3.2 million financing from nine investors

CEO Warren Sumner was previously chief operating officer of Austin-based Take Supply Chain and general manager of the enterprise products division, formerly ClearOrbit Inc., where he was vice president of marketing and vice president of professional services, his online profile indicates

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