HYDRO RECOVERY ANNOUNCES NEW BUSINESS PARTNERSHIP WITH SHANER CAPITAL
New business relationship will accelerate the expansion and growth of the company.
Blossburg, PA – Hydro Recovery L.P. is pleased to announce the formation of a business partnership with Shaner Capital L.P. based in State College, Pennsylvania. The family-based business of DALK Land L.P. formed Hydro Recovery in 2008 to build a manufacturing facility that would treat Marcellus Shale natural gas wastewaters and turn it into a reusable product the company calls HSF-T or Hydraulic Stimulation Fluid.
The Blossburg, Tioga County, plant opened its doors for business in early June of this year and is already nearing capacity. The partnership with Shaner Capital will allow the company to continue with its expansion plans to build additional plants throughout Pennsylvania to meet its clients’ demand. The companies plan to break ground on a new plant this year that will also treat Acid Mine Drainage (AMD) water as well as treat natural gas wastewater and additional plants in 2012.
The founder and President of Hydro Recovery, Neil Hedrick said that, “he is excited about the partnership and looks forward to working with representatives with Shaner Capital and Shaner Solutions, such as Eddie Lauth, the CEO of Shaner Capital, who will also serve as the CEO of Hydro Recovery.” Neil Hedrick will continue as the manager of the General Partnership under KLAD LLC.
Mr. Lauth said that, “Hydro Recovery is clearly one of the pioneering, water treatment companies operating in the exciting Marcellus Shale play and Shaner Capital is pleased to be a part of this fast growing, high quality company.” Shaner Capital is a private investment fund formed by Lance T. Shaner, CEO of the Shaner Group in 2010. The objective of Shaner Capital is to assist well run, innovative companies to grow and expand their business. Shaner Capital holds controlling interests in numerous operating companies.
Hydro Recovery’s philosophy is based upon 100% recycling, which means that no matter what type of water that comes into the plant (pit, drilling fluids, flowback and production water), all of the treated water is transported back to a natural gas company for reuse in future fracing of natural gas wells. By reusing treated wastewater, this preserves the state’s fresh water supply and eliminates any water used in fracing from being disposed of into the waterways of the Commonwealth. Many of Hydro’s natural gas clients also adhere to this philosophy and are moving towards 100% recycling.
To learn more about Hydro, please visit us on our website at www.HydroRecoveryLP.com, and follow us on Twitter, Facebook and LinkedIn.
Teresa Irvin Copenhaver
Business Development Manager
About Hydro Recovery
Hydro Recovery LP is a manufacturer of Hydraulic Stimulation Fluid (HSF™) based in Blossburg, PA. The firm treats residual wastewater from the Marcellus Shale natural gas drilling and production process and Acid Mine Drainage Water, and converts it into HSF™, which can be reused by drillers in future operations. Hydro Recovery LP is owned by DALK Land LP.
About The Shaner Group
State College, PA – based Shaner Group is a privately held group of companies with over 2,500 employees that owns and manages a diverse portfolio of businesses that includes hotels, finance, investment management, venture capital and energy production. For more information about the Shaner Group, vist www.shanercorp.com.