Technology

TETRA TECHNOLOGIES, INC. INTRODUCES TETRA OASIS TOTAL DESALINATION SOLUTION (TETRA OASIS TDS) AND RESULTS FROM PERMIAN BASIN BENEFICIAL RE-USE PILOT

Published

6 days ago

December 16, 2024

THE WOODLANDS, Texas, Dec. 16, 2024 /PRNewswire/ — TETRA Technologies, Inc. (“TETRA” or the “Company”) (NYSE:TTI) today announced the commercial launch of TETRA Oasis TDS, an end-to-end water treatment and desalination technology for beneficial re-use and mineral extraction applications for oil and gas well produced water.

TETRA also recently completed a commercial pilot project for the desalination of Delaware Basin produced water for a major North America oil and gas operator. The desalinated water was tested against published Texas Railroad Commission (“TRRC”) standards for beneficial re-use water at both TETRA’s laboratory and an independent third-party laboratory. Subsequently, the treated water was sent to a third party for Whole Effluent Toxicity (“WET”) testing where it successfully passed all test parameters. WET testing is a method used to measure the combined toxic effects of all pollutants on aquatic organisms and involves exposing aquatic organisms to treated wastewater samples and observing how the organisms respond. The tests can be acute or chronic and measure different aspects of the organisms’ health. WET testing is a vital component to implementing water quality standards under the National Pollutant Discharge Elimination System (“NPDES”) permits program.

Brady Murphy, TETRA’s President and Chief Executive Officer said, “For several years we have been working to leverage our deep brine chemistry expertise, our US onshore water treatment resources, and our customer network and relationships to address the sizeable industry challenge surrounding treatment of oil and gas produced water for beneficial re-use purposes. By combining our existing expertise in produced water recycling for frac re-use to pre-treat the feed water for two unique membrane technologies, we have developed a high-quality, cost-effective solution.

Our first field pilot program successfully treated produced water where we achieved 92% recovery rate of desalinated water with total dissolved solids levels ranging from 40 parts per million (“ppm”) to 200 ppm, which are better than the average municipal drinking water standards. In our latest pilot test of more challenging Delaware Basin produced water, we are very pleased to announce that our TETRA Oasis TDS resulted in high-quality desalinated water that not only met or exceeded all customer KPIs but passed all third-party WET testing. Given the importance of WET testing standards for the regulatory agencies, we believe this is an important step for future beneficial re-use project permitting. This is a rapidly evolving market, and the need for cost effective technology to address produced water volumes continues to grow.

TETRA see significant opportunity in the space and continue to engage high quality customers to address their water challenges and disposal restrictions due to seismicity events with seven NDA’s in place and ongoing negotiations with others to discuss the proprietary details of our TETRA Oasis TDS.”

Despite U.S. land oil and gas well frac and completion activity declining throughout 2024, produced water volumes continue to increase. Rystad Energy estimates Permian Basin produced water volumes of 8.3 billion barrels in 2024, up 5% from 2023. In Rystad Energy’s fourth quarter 2024 Water Management report, they estimate that a 20% reduction in Permian Basin disposal well capacity due to regulatory restrictions would result in up to 4 million barrels of produced water per day as the available market for beneficial re-use. A recent Houston Chronicle article referenced a study that the handling and treating of produced water is a $4 billion annual market opportunity in the Permian Basin, making this one of the fastest growing market opportunities in the oil and gas industry.

TETRA Oasis TDS

TETRA Oasis TDS is a proprietary end-to-end offering that involves a variety of processing stages starting with operator’s oil and gas well produced water as feed brine for a pre-treatment step. TETRA has developed extensive experience and expertise over the past six years in the treatment and recycling of produced water for frac re-use, as demonstrated by having treated in the fourth quarter, 2024 a record peak volume of over 800,000 bbl/day. This experience has advanced TETRA’s chemistry know-how in addressing a wide variability of produced water constituents, including dealing with organic compounds that would otherwise be destructive to membranes used in other industries to desalinate water.

The critical pre-treatment first step is followed by the desalination stage through two technologies licensed exclusively to TETRA for oil and gas produced water applications, KMX Technologies Inc., (“KMX”) Vacuum Membrane Distillation (“VMD”) or Hyrec Holdings Company W.L.L. (“Hyrec”) Osmotically Assisted Reverse Osmosis (“OARO”), or a combination of both. The selection of which technology or combination thereof depends, in part, on the total dissolved solids of the feed water, the end use application, and optimizing both the capital and operating costs of the process. The final stage is a post-treatment process designed to meet customer water specifications and may involve extraction of minerals, which TETRA’s chemical business has been doing for many years, and potentially significantly improving the economic benefits. TETRA Oasis TDS was successfully proven in the field to deliver a water quality that achieves or exceeds regulatory requirements in a cost-effective manner for multiple beneficial re-use applications, including potential surface irrigation and industrial uses.

TETRA recently completed an equity investment in KMX Technologies Inc.

Details on TETRA Oasis TDS can be found on the following website link:

https://onetetra.com/energy-services/water-management/produced-water-desalination/

Investor Contact

For further information, please contact Elijio Serrano, CFO, TETRA Technologies, Inc. at (281) 367-1983 or via email at eserrano@onetetra.com.

Company Overview

TETRA Technologies, Inc. is an energy services and solutions company focused on developing environmentally conscious services and solutions that help make people’s lives better. With operations on six continents, the Company’s portfolio consists of Energy Services, Industrial Chemicals, and Critical Minerals. In addition to providing products and services to the oil and gas industry and calcium chloride for diverse applications, TETRA is expanding into the low-carbon energy market with chemistry expertise, key mineral acreage, and global infrastructure, helping to meet the demand for sustainable energy in the twenty-first century. Visit the Company’s website at www.onetetra.com for more information.

Cautionary Statement Regarding Forward Looking Statements

This news release includes certain statements that are deemed to be forward-looking statements. Generally, the use of words such as “may,” “see,” “expectation,” “expect,” “intend,” “estimate,” “projects,” “anticipate,” “believe,” “assume,” “could,” “should,” “plans,” “targets” or similar expressions that convey the uncertainty of future events, activities, expectations or outcomes identify forward-looking statements that TETRA intends to be included within the safe harbor protections provided by the federal securities laws. These forward-looking statements include statements regarding TETRA’s beliefs, expectations, plans, goals, future events and performance, and other statements that are not purely historical. These forward-looking statements are based on certain assumptions and analyses made by TETRA in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond the control of TETRA. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to develop efficient water treatment processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; future relationships between parties; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with changes in federal, state, or local laws; risks associated with potential costs of regulatory compliance; risks associated with changes to U.S. trade policies; and risks related to adverse changes in general economic conditions. Moreover, TETRA operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, TETRA assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in TETRA’s most recent filings with the Securities and Exchange Commission, including TETRA’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K.

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SOURCE TETRA Technologies, Inc.

Technology

2025 Chinese economy: robust capacity in coping with pressure and risks

Published

2 hours ago

December 23, 2024

BEIJING, Dec. 22, 2024 /PRNewswire/ — A news report from China.org.cn on China’s annual Central Economic Work Conference:

From China’s annual Central Economic Work Conference held last week, one can see clear targets and detect the continuity in the rationale behind the country’s economic roadmap for 2025. The tasks listed at the conference are in line with China’s development needs in the current phase, and can to a degree respond to the external risks.

Firstly, the meeting urged efforts to vigorously boost consumption, a top-of-agenda task. Expanding domestic demand is not only a long-term priority for China, but also a coping strategy for the tougher challenges faced in exports. China’s efforts to stimulate consumption mainly fall into two categories. For one, enabling its citizens to have more to spend, by means of increasing income and alleviating burdens of low- and middle-income groups, and enabling more to enter the middle-income bracket; meanwhile, China will continue to diversify consumption scenarios, such as the debut economy, ice and snow economy and silver economy, for consumers to spend their disposable income.

Secondly, China is determined to let scientific and technological innovation drive the building of a modern industrial system, serving as a compass for China’s industrial economy development. In 2025, China is going to invest more in technological innovation, and strengthen studies in basic sciences and key core technologies, to drive industrial innovation, and furthermore achieve high standards in sci-tech self-reliance and strength.

Thirdly, China will maintain its high-level opening-up, and keep foreign trade and foreign investment stable. The size, quality and good reputation of China’s business with the world have been ever-growing, and that’s because the goal of China is to “make the cake bigger,” not “steal others’ shares of cake,” let alone “seize the whole cake.” To that end, China has improved the quality of its exports, explored new investment models, and made more countries stakeholders along the global value chain; meanwhile, it has also been ameliorating its market-access policies, and bettering the treatment of foreign-invested companies, so that more countries can benefit from the Chinese market. By November, China has removed all market access restrictions for foreign investors in the manufacturing sector, and service sectors including telecommunication and medical care are also opening their doors wider at a stable pace.

China shows great willingness to open up to the world, and boasts a good many partners; at the same time, the country’s economy has a solid foundation with many advantages, strong resilience and great potential, which means it possesses robust capacity in coping with pressure and risks.

View original content to download multimedia:https://www.prnewswire.com/news-releases/2025-chinese-economy-robust-capacity-in-coping-with-pressure-and-risks-302338092.html

SOURCE China.org.cn

Technology

India-born Avaada Group Commits $12bn to Transform Rajasthan into a Global Renewable Energy Hub

Published

2 hours ago

December 23, 2024

MUMBAI, India, Dec. 23, 2024 /PRNewswire/ — Avaada Group, a leading name in the renewable energy sector, has announced an unprecedented investment of $12bn in Rajasthan, India, for accelerating green energy transition, thereby establishing the region as a global renewable energy powerhouse. This landmark announcement was made during the prestigious Rising Rajasthan 2024 Summit, attended by India’s Hon’ble Prime Minister Narendra Modi and Rajasthan’s Hon’ble Chief Minister Bhajanlal Sharma.

Highlighting Rajasthan’s strategic importance, Avaada Group’s Chairman Vineet Mittal, Guest of Honour at the event, stated, “Rajasthan’s vast solar and wind resources, coupled with the visionary leadership of the Hon’ble Prime Minister and Chief Minister, present an unparalleled opportunity to redefine the global renewable energy landscape. Avaada’s commitment of $12bn while driving green industrial manufacturing will also create millions of jobs, shaping a sustainable and inclusive future.”

Rajasthan stands out as a global hub for renewable energy, with over 142 GW of unmatched solar potential, supported by 325+ sunny days annually. The state’s pro-business policies, including the Rajasthan Investment Promotion Scheme 2024 and the Integrated Clean Energy Policy 2024, have attracted investments worth $78bn.

Avaada Group’s journey in Rajasthan began with a modest 150 MW solar project and has since evolved into multiple ventures, including one of the world’s largest single location renewable energy projects by an IPP. Key investments announced at the summit include:

1,200 MW Pumped Storage Project (PSP): A $700mn initiative to enhance energy storage and grid stability.Green Hydrogen and Ammonia Projects: Investments aimed at driving global decarbonization goals.Utility-Scale Solar and Wind Projects: Across Jhalawar, Kota, Barmer, and Bikaner, contributing significantly to India’s renewable energy targets.

With its strategic alignment to international sustainability frameworks like the EU’s Carbon Border Adjustment Mechanism (CBAM), Rajasthan offers a unique advantage for zero-carbon manufacturing and green industrial growth, positioning itself as a magnet for industries seeking sustainable operations while creating over 1mn green jobs.

“As a global renewable energy leader, Avaada is proud to participate in Rajasthan’s vision of becoming a green hub of industrial growth,” Mr. Mittal remarked. “Our investments aim to double the region’s economy by 2030, aligned with global efforts to combat climate change.”

With its strategic initiatives, Avaada Group is poised to attract international collaborations, setting a benchmark for renewable energy innovation and sustainable industrial development.

About Avaada Group

Avaada Group is a leader in the global energy transition, specializing in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects. Under the visionary leadership of Mr. Vineet Mittal, Avaada has become a significant global player in clean energy. Avaada Energy, the group’s renewable power generation arm, aims to achieve a capacity of 11 GWp by 2026. The group’s strong execution capabilities have attracted substantial international investment, including a $1.3bn commitment in early 2023, with $1bn from Brookfield’s Energy Transition Fund and $300mn from GPSC, a subsidiary of Thailand’s PTT Group.

Contact

Kiren Srivastav
kiren.srivastav@avaada.com

Charu Sehgal
charu.sehgal@avaada.com

View original content:https://www.prnewswire.co.uk/news-releases/india-born-avaada-group-commits-12bn-to-transform-rajasthan-into-a-global-renewable-energy-hub-302337340.html

Technology

The Shining Achievements of Busan MICE in 2024

Published

2 hours ago

December 23, 2024

BUSAN, South Korea, Dec. 23, 2024 /PRNewswire/ — Amid intensifying competition among MICE host cities to attract large events, 2024 saw Busan take bold steps that led to impressive results, proving its potential as a prime MICE destination. The efforts made by Busan in 2024 in attracting major international conferences, promoting ESG management, enhancing networking, and strengthening city identity are outlined below.

International Conferences Held in the Global MICE City of Busan

Busan hosted several significant international conferences in 2024. In July, it welcomed the 45th Scientific Assembly of the Committee on Space Research (COSPAR 2024), drawing around 2,700 space scientists from 60 countries to Korea. This was the first time the event was held in the country. In August, after eight years of preparation, the city hosted the 37th International Geological Congress (IGC 2024), a prestigious event with a 146-year history, at BEXCO. In November, Busan hosted the 5th Session of the UN Intergovernmental Negotiating Committee on Plastic Pollution (INC-5). With participation from 193 institutions and countries, INC-5 was the final dialogue in a series of international discussions on controlling plastic pollution, making it a crucial conference on the future health of Earth’s marine environment and placing Busan at the forefront of global attention.

Wide-ranging ESG Activities for the Sustainability of MICE

Busan’s selection to host INC-5 was made possible by its strong track record of ESG initiatives within the MICE industry. The Busan Tourism Organization (BTO) CVB’s exhibition hall was decorated using recyclable wood, and with the assistance of eco-friendly suppliers, recycling stations were set up to facilitate the collection of waste generated during the event. Aiming for a paperless conference, digital materials and multifunctional electronic platforms were also used. Continuous efforts in various ESG initiatives were made through collaborations with Busan MICE Alliance (BMA) members. Environmental reports were made, containing carbon reduction amounts for all products used at event venues and greenhouse gas reduction indicators for transportation during each event, to create more eco-friendly events.

Improvement of Busan’s MICE Network Through Communication

The Busan MICE Alliance and the Busan MICE industry, in general, grew in solidarity through strong networking this year. The BTO CVB worked to fundamentally enhance Busan’s MICE industry by increasing local demand for MICE events and maintaining an efficient collaboration network. Regular meetings of the BMA focused on the concerns of its members to improve communication. Additionally, Busan MICE Alliance Day was held to strengthen ties among members of Busan’s MICE industry, fostering discussions on industry developments both locally and internationally, and exploring joint marketing opportunities. New members were recruited into the BMA in both the first and second halves of the year, enhancing collaboration between the public and private sectors for the success of Busan’s MICE industry. The Busan MICE Business Innovation Platform, which provides users with access to news and information about Busan’s MICE industry, was launched and well-received.

Unique Venues That Capture Busan’s Local Identity

Participants in MICE events now expect more than just the exchange of knowledge. They seek a special experience, and MICE destinations should leverage their local identity to provide experiences that can only be found in their cities or regions. Recognizing this industry trend, Busan has identified a variety of unique venues that highlight the history, culture, and distinctiveness of the city. Venues such as Domoheon, the former residence of Busan’s mayor; Space OneZ, a renovated old warehouse; and Holi Lounge, offering a surfing workation, exemplify this approach. The MICE events held at these unique venues are also organized in a way that showcases the best of Busan’s local identity.

As another busy year draws to a close, Busan, as a MICE city, is looking forward to making even greater strides next year. The 18th World Congress on Computational Mechanics (WCCM) in 2028, along with many other international MICE events, are set to take place in Busan, and the BTO CVB is actively working toward this goal.

With aspirations of reaching the pinnacle of the MICE industry, Busan will continue its efforts to be a sustainable, cooperative, and unique MICE city that is globally recognized.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/the-shining-achievements-of-busan-mice-in-2024-302338095.html

SOURCE Busan Tourism Organization