Company News
Name News
First let’s get to our new name: We really liked H2Oil Recovery Services, Inc. but so do a lot of other companies, including one with that website URL. And, more recently, we realized that our unique technology, a system that conserves and protects the environment through advanced resource recovery, deserves to be recognized with a new name.
Since our patented mechanical vapor recompression (MVR) evaporation system is at the core of our success, we are emphasizing the temperature at which steam is made 212°F and the recovery of valuable resources, including distilled water, natural gas condensate, methanol and 10 pound brine. So from now H2Oil will be doing business as 212Resources. Think of our new name as “resource recovery at the boiling point of water” and how we are helping to address one the world’s most serious problems: water conservation.
GE Capital signs a major deal with 212 Resources and frees up millions in operating capital for use in water recovery services
Newly named as 212 Resources, we are most excited to announce that our company is backed by a $250,000,000 credit instrument financed by GE Capital. This funding arrangement assures 212 Resources has the resources for rapid, sustainable and substantial growth and recognizes its market-leading technology platform in resource recovery. This dollar amount and endorsement by GE Capital helps make 212 Resources a major player in the water management industry.
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July 2007
In anticipation of a major financing initiative, Zions Bank provided H2Oil with a $7,250,000 bridge financing package to facilitate plant construction and company development.
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June 2007
Bob Waits, Executive VP and Dan Owens, Director Operations, both with extensive international waste management experience, just returned from a productive visit to Beijing, China. Meetings with senior business and government leaders produced formal requests for proposals to provide water treatment services for oil and gas, steel plants, industrial parks and landfill leachate. This further extends “212’s” opportunity to use its technology platform to dramatically impact water conservation and recycling on a global scale.
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May 2007
The natural gas industry just had a revolution; H2Oil was been retained by a local gas producer to manage its flowback and produced water in the Wyoming Anticline area. H2Oil will build a transportable plant (which we call “Pods”) to process flowback and produced water at the well sites to create clean water for beneficial use. The system will separate and recover natural gas condensate, methanol, and brine and make distilled water. The water phase will be reused in drilling to support Ultra in maintaining their position as the lowest cost gas producer while be conservation minded. With tightening water regulations and corporate environmental sensitivity, H2Oil is positioned to single-handedly change exploration and production management of produced water.
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April 2007
Record deliveries, 255 truck loads of tank bottoms for the month and over 12,000 barrels, came to H2Oil’s Texas plant. The plant now receives materials from close to 190 oil producers and 55 trucking companies. New customers every day help precipitate continued business growth.
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September 2006
H2Oil completed a Series “B” funding round and was heralded by PriceWaterhouse Cooper’s “MoneyTree” as the first “non-high tech” company to receive funding from a Silicon Valley venture capital firm. H2Oil is pleased to announce that @Ventures (part of cmgi) combined with other investors has placed $5 million for plant and new business development. This funding recognizes the potential of H2Oil as it expands its Texas plant and focuses on new locations for managing water in the natural gas production sector.
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July 2006
An industry breakthrough: H2Oil had its recovered oil accepted for direct delivery from its Andrews plant to AlonUSA Refinery in Big Spring, TX. Our plant has consistently met the highest product quality standards, eliminating the need to go to middlemen blenders to sell oil. The Andrews plant now receives tank bottoms from about 35 trucking companies and 80 operators in the area.
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January 2006
H2Oil completed the Andrews Plant and began receiving tanker truck loads of crude oil tank bottoms. The site includes over twenty tanks plus the sophisticated five levels of liquid/solid separation and its patented vapor compression (turbulent flow) flash evaporation system. Some twenty new jobs were created.
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August 2006
Building upon his success treating complex industrial water waste for beneficial use at many major domestic and foreign companies, Jim Schleiffarth, used his technology to create H2Oil, his second major service company. Joining Jim is Bob Waits, EVP of Development and Mike Zumwalt, CFO. Together they raised $2.5 million from a group of private investors. Funds will be used for working capital and construction of H2Oil's first plant.', 'y', ' Building upon his success treating complex industrial water waste for beneficial use at many major domestic and foreign companies, Jim Schleiffarth, used his technology to create H2Oil, his second major service company. Joining Jim is Bob Waits, EVP of Development and Mike Zumwalt, CFO. Together they raised $2.5 million from a group of private investors. Funds will be used for working capital and construction of H2Oil’s first plant.
The Andrews, TX facility (30 miles north of Midland/Odessa) will focus on crude oil recovery from production field tank bottoms and off-spec oil as well as treatment of produced water to create distilled water for beneficial use. In conjunction with the funding and organization of H2Oil, the patents for the Vacom Mechanical Vapor Recompression (MVR) Evaporation system were transferred to 212 Resources. Now we , have sole ownership of the technology and exclusive use in the energy sector while we license back to Vacom the rights to sell systems in industries throughout the world.
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