Desalination facility will be first of its kind in Texas
(CORPUS CHRISTI, TEXAS) — A drought-proof supply of water — at no cost to taxpayers — is in the works and ready to ensure the Coastal Bend’s continued industrial growth while providing the city flexibility in managing its water resources.
Seven Seas Water, an AquaVenture Holdings business (NYSE: WAAS), is pleased to announce it has signed a lease with the Ed Rachal Foundation for a 10-acre plot on Harbor Island, where the corporation plans to build and operate the first municipal seawater desalination facility in Texas. The desalination facility will be built entirely with private capital, diversifying the region’s water supply, ensuring adequate fresh water for industrial and residential growth, and relieving local taxpayers of the burden of financing hundreds of millions of dollars of debt for a government-owned plant.
“Seawater desalination is key to meeting this region’s growing residential and industrial thirst,” said Doug Brown, CEO of Seven Seas Water. “The Coastal Bend is critical to Texas’ economic success, and we are committed to helping ensure its continued viability with this new, drought-proof supply of water.”
The Seven Seas Water desalination facility will not require any taxpayer money to build, making it easy for both taxpayers and local leaders to support.
Just as importantly, the state-of-the-art facility will operate with minimal adverse environmental impact. Seven Seas Water has a proven track record of operating in the environmentally pristine Caribbean, where protecting marine life is protecting the local economy. Seven Seas Water is already one of the top providers of desalinated water in the world, with extensive operations in the Caribbean and South America.
“Communities throughout the Caribbean trust and rely on Seven Seas Water to ensure there’s fresh, safe drinking water when they turn on the tap,” said Sir Richard Branson, Virgin founder and an early Seven Seas Water investor. “Importantly, Seven Seas Water is also very focused on protecting our ocean and the pristine marine ecosystem we cherish.”
Branson, who lives in the British Virgin Islands, became an investor in Seven Seas Water after being impressed by their Caribbean operations.
Seven Seas recognizes that the natural resources of the Coastal Bend must also be protected because the livelihood of thousands of families depend on those natural resources. To that end, Seven Seas Water is looking forward to working with scientists at the nearby University of Texas Marine Science Institute, the Texas A&M University-Corpus Christi Harte Research Institute for Gulf of Mexico Studies, and the Coastal Bend Bays and Estuaries Program to ensure the Harbor Island desalination facility will not adversely affect salinity of the bays and estuaries, or otherwise negatively impact wildlife.
Additionally, Seven Seas Water intends to engage local institutions of higher learning to forge innovative partnerships designed to give students hands-on experiences with desalination technologies.
“As an owner-operator, Seven Seas Water will become an important part of the Coastal Bend community, and we are committed to being good neighbors,” Brown said. “As such, we will consult with our neighbors when we design the plant to ensure an aesthetically acceptable solution.”
Seven Seas Water will respond to the Request for Information on Alternative Water Supplies the city of Corpus Christi issued Aug. 15. Seven Seas Water will submit a robust proposal in favor of its seawater desalination facility as an ideal solution prior to the October 12th submission deadline.
“Seven Seas Water applauds city leaders in Corpus Christi for opening up this process and for having the vision to address future water needs before it is a crisis,” Brown said. “Seven Seas Water is confident we are bringing the best solution for Corpus Christi’s water problem because our Water-as-a-ServiceTM approach aligns the interests of the Coastal Bend with Seven Seas Water. The success of both depends on a consistent and affordable water supply.”
Based in Tampa, Fla., Seven Seas Water has established itself as an industry leader throughout the Americas and the Greater Caribbean, annually delivering over 7 billion gallons of treated water and consistently demonstrating an ability to overcome sometimes daunting challenges in a minimum amount of time.
Investor Hotline: 855-278-WAAS (9227)