DALLAS, Sept. 22, 2017 /PRNewswire/ -- Fracking is a necessary part of our nations release of oil and gas that is trapped inside the earth. The concern in the oil industry is that the cost of transporting fracking water, which becomes contaminated with chemicals, will rise dramatically over the next four years. Bluefield Research, which tracks water strategies and trends for industry, states that $6.4 billion dollars were spent in 2014 on water supply storage, transport, treatment, and disposal. Genesis Research and Technology Group has developed and patented a technology, with a green footprint, that cuts the cost by 80%.
"The use of fracking is not the issue it is necessary; but, the cost of toxic water and transportation of that water to disposal sites is a tremendous expense," says Ron Price, CEO of Genesis Research and Technology Group. Genesis, who plans to release an ICO next week on the cryptocurrency exchange, produces a state-of-the-art technology that can be used on-site and clean the water at up to 2,000 barrels per hour, or scaled to fit a companies needs at 20,000 barrels per hour. The water can then be safely reused. "The technology is revolutionary and will save the oil and gas industry hundreds of millions of dollars and protects the environment while at the same time, it eliminates transportation of contaminated water," says Billy Hood, VP Marketing, Genesis Research and Technology Group.
Dr. Jean-Phillipe Nicot, senior research scientist at the University of Texas at Austin states, "Because of the potential toxicity to water-borne organisms, frack water cannot simply be disposed of in surface waters. There are chemicals, oil droplets, rock fragments, polymers and a bunch of gunk you need to get rid of." The Genesis patented technology in a portable, scalable unit resides on site and treats the water which can then be reused for multiple purposes.
About Genesis Research and Technology Group: Genesis Research and Technology Group is a U.S.-based company that has developed a patented, state-of-the-art technology that provides clean reusable water for the world's population. The Company exploits its chemical-free technology as its efforts are being recognized by several leading government agencies developing and implementing Green technologies to protect and preserve our earth's resources.
Genesis Research and Technology Group provides custom-built state-of-the-art water treatment technologies for all types of water. Years of research and development go into perfecting this technology that allows Genesis to offer its clients a sole source, re-usable water filtering and cleansing technology that is totally chemical free.
SOURCE Genesis Research & Technology Group