Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Harris & Harris Group Notes Produced Water Absorbents to Acquire USA and Malaysia Assets of ProSep Inc.

Abstract:
Harris & Harris Group, Inc. (NASDAQ: TINY), an early-stage, active investor in transformative companies, notes the announcement by portfolio company, Produced Water Absorbents, Inc. ("PWA"), that it has entered into an agreement to acquire the assets related to the global operations of oil and gas technology company, ProSep Inc., which has its main offices in the United States and Malaysia. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas. PWA is a technology company providing produced water treatment solutions and services to the oil and gas industry.

Harris & Harris Group Notes Produced Water Absorbents to Acquire USA and Malaysia Assets of ProSep Inc.

New York, NY | Posted on October 25th, 2013

"This transaction strengthens PWA by providing complementary products and technology to the company. It provides an established channel for PWA's products to enter the market and accelerates by multiple years the commercial development of PWA. It also strengthens our relationships and development efforts in Asian markets," said Doug Jamison, CEO of Harris & Harris Group.

The $9.2 million transaction will complement PWA's existing services, enabling it to offer a comprehensive portfolio of patented solutions to treat oil, natural gas and produced water. As an emerging company in the industry, PWA contributes to the acquisition its proprietary technology selling skills, leasing experience and focus on innovation. The assets acquired from ProSep offer a strong, established presence in the Americas, fabrication facilities, geographic spread and a wide portfolio of products. Following the closing of the acquisition, PWA will relocate its headquarters from Wooster, Ohio, to Houston, Texas, as part of a domestic and international expansion drive. The acquisition is expected to be completed in November of 2013, subject to customary closing conditions. The acquisition was financed in part by PWA's existing investors led by Energy Ventures with offices in Norway, the U.K. and Houston, Texas, and Harris & Harris Group, Inc., with offices in New York City and Palo Alto, California. PWA's press release can be accessed at www.pwasystems.com/news/pwa_to_acquire_usa_and_malaysia_assets.cfm.

Harris & Harris Group is an investor in privately held Produced Water Absorbents, Inc.

####

About Harris & Harris Group, Inc.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com and on Facebook at www.facebook.com/harrisharrisvc.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.Facebook.com, and www.pwasystems.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.

For more information, please click here

Copyright © Harris & Harris Group, Inc.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Remote-control shoots laser at nano-gold to turn on cancer-killing immune cells April 20th, 2018

New qubit now works without breaks: A universal design for superconducting qubits has been created April 19th, 2018

Observing biological nanotransporters: Chemistry April 19th, 2018

Salt boosts creation of 2-D materials: Rice University scientists show how salt lowers reaction temperatures to make novel materials April 18th, 2018

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces €30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018

180 Degree Capital Corp. Leads Investment in TheStreet, Inc.; Investment Enables Removal of Capital Structure Overhang November 14th, 2017

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Investments/IPO's/Splits

Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4) March 20th, 2018

Nanometrics to Present at the 30th Annual ROTH Conference February 27th, 2018

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces €30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018

Announcements

Remote-control shoots laser at nano-gold to turn on cancer-killing immune cells April 20th, 2018

New qubit now works without breaks: A universal design for superconducting qubits has been created April 19th, 2018

Observing biological nanotransporters: Chemistry April 19th, 2018

Salt boosts creation of 2-D materials: Rice University scientists show how salt lowers reaction temperatures to make novel materials April 18th, 2018

Energy

Psst! A whispering gallery for light boosts solar cells April 14th, 2018

High efficiency solar power conversion allowed by a novel composite material: A composite thin film developed at INRS improves significantly solar cells' power conversion efficiency April 10th, 2018

Light 'relaxes' crystal to boost solar cell efficiency: Rice, Los Alamos discovery advances case for perovskite-based solar cells April 6th, 2018

Double perovskites in environmentally friendly solar cells: Long electron-hole diffusion length in high-quality lead-free double perovskite films April 6th, 2018

Acquisitions/Mergers/Splits

Bruker Announces Acquisition of Nanoindenting Leader Hysitron: Acquisition strengthens Bruker’s leading position in nanoanalysis and nanomechanical materials characterization January 24th, 2017

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

Entest BioMedical, Inc. in Discussions to Acquire Nanotechnology Delivery System for Cancer Therapy June 3rd, 2015

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project