Mangrove Water Technologies is Awarded $5M as a Winner of the ERA Grand Challenge for Innovative Carbon Use
Vancouver, Oct. 30, 2019 (GLOBE NEWSWIRE) — A clean environment and a strong energy sector in Alberta can go together. Mangrove Water Technologies is commercializing an innovation with the potential to reduce annual GHG emissions by over 1 Mt and water consumption by 11 million m³. “Mangrove’s technology is enabling a unique opportunity to convert carbon dioxide and saline wastewater to valuable chemicals on-site” said Saad Dara, Mangrove’s CEO, “This not only helps to reduce trucking emissions from wastewater disposal and centralized chemical supply but also has a significant impact in reducing operational costs for the oil & gas sector.”“For the past five years of ERA’s Grand Challenge: Innovative Carbon Uses, Mangrove Technologies has advanced a concept from the lab into a commercial operation in the field with a market opportunity of $450 million and significant GHG reduction potential” said Steve MacDonald, ERA’s CEO, “This progress represents what is possible when we play to our strengths in technology, innovation, and ingenuity to create a cleaner, more cost competitive, energy future.”The $5M ERA Grand Challenge Award will go towards the deployment of multiple 100 m3/day commercial modules with Mangrove’s customer and project partner, Canadian Natural Resources Ltd (CNRL), at their mining site in Alberta. This will enable Mangrove to demonstrate the reliability of operations, validate the economics and prove the scalability of the business.About MangroveMangrove Water Technologies has developed a distributed chemical manufacturing platform that converts waste streams to high value chemicals for on-site & on-demand use resulting in a simplification of logistics and a reduction in cost and GHGs for the energy & resources sectors.About Emissions Reduction AlbertaEmissions Reduction Alberta is a not-for-profit organization that provides ongoing, dedicated funds to support the discovery, development and deployment of transformative technology that will reduce greenhouse gas emissions (GHGs).Saad Dara,
Chief Executive Officer
Mangrove Water Technologies Inc.