A former U.S. Navy fighter pilot is trying to cash in on the $36 billion fracking market by cleaning fracking waste water, according to Bloomberg.

Jim Matheson, chief executive officers of Oasys Water Inc., a startup specializing in waste water treatment, is touting the company’s ability to treat water for $3 to $4 a barrel — less than the cost of trucking the water to be disposed of underground.

Frack water treatment

Treating waste water from the fracturing process is a big deal. With each well requiring 4 to 5 million gallons of water to frack, many environmentalists are concerned with what exactly happens to the water after it’s used.

Many companies dispose of the water underground, in what’s called a deep-injection well. The very same kind of well that became infamous for causing earthquakes in Youngstown, Ohio.

Wastewater from shale gas wells is particularly difficult to clean because of the high salinity and high levels of other minerals like calcium. Some waste water is also naturally radioactive, adding to the complexities involved with treating it.

Water is becoming more important

According to Bloomberg, water crisis ranked as the third-biggest global risk after financial shocks and joblessness. With 4 to 5 million gallons of water used for each well, it’s easy to see how important it is to clean the water after its use.

Oasys plans on deploying systems that use forward-osmosis in Texas and Pennsylvania. According to Oasys, the system is more effective than evaporation or reverse-osmosis for removing contaminants from the water.

» Via: Bloomberg Business Week › Former U.S. Fighter Pilot Touts Oasys Fracking Water Technology