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HydroEdge Closes $8 Million in Financing

HydroEdge Closes $8 Million in Financing
Credit: hydroedgesolutions.com

HydroEdge Solutions, a privately held turnkey water solutions provider to the U.S. energy marketplace, announced it completed an $8 million round of debt financing with an independent, third-party lender.

HydroEdge Solutions, founded in 2013 and based in Pittsburgh, Pennsylvania, supplies high-volume, controlled supplies of water directly to destinations throughout the Appalachian Basin. According to the company, its custom-designed, engineered, and managed supply chain solutions are capable of reaching the most remote well locations, free of leaks and service interruption.

According to HydroEdge, it will increase its 2017 revenue to $13.2 million, with $2.7 million in EBITDA, and is projected to increase in 2018 to $18.5 million, with $4.4 million in EBITDA. The debt financing will be used to fund rapidly growing operations, receivables, and capital expenditure, as well as general working capital.

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