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Omni Water Solutions Inc. has secured $4 million in additional equity from existing investors, led by Austin Ventures, and has added former FTS International CEO, Marc Rowland, to its Board of Directors.
The new funding enables the company to add to its HIPPO product line for strategic customers in the Permian Basin and Eagle Ford Shale.
"Our investors strongly support our plan for growth and the new funds will enable Omni to meet the demand we are seeing from customers in the Texas shale plays," said Warren Sumner, CEO of Omni Water Solutions. "In addition to the funding, we are excited about adding Marc to our board. His global experience in exploration and production and energy services complements our water treatment expertise, and I look forward to working with him to realize the vision we have for Omni."
Mr. Rowland has spent 35 years in the oil and gas industry and currently manages Infinity Resources, a privately held exploration and production company. He served as the CEO of FTS International, Inc. (formerly Frac Tech International, LLC) from 2011 to 2012 and its President and CFO from 2010 to 2011. Mr. Rowland was the CFO of Chesapeake Energy Corporation from 1993 to 2010. He also serves on several public, private, and non-profit boards in oil and gas, banking, and the arts community. He is a Certified Public Accountant and graduated from Wichita State University.
"Omni presents a compelling value proposition to oil and gas operators who are looking for cost-effective treatment of water used in drilling and hydro-fracturing," said Marc Rowland. "The company's unique blend of water treatment technologies and software automation is a winning approach for this industry."
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