BP Ventures invests in water treatment specialist Saltworks

BP Ventures, the technology investment arm of U.K. energy business BP Group, has invested in Saltworks Technologies Inc. The deal, the value of which was not disclosed, follows an investment in May made by ConocoPhillips Co. Based in Vancouver, Saltworks has developed desalination systems for demanding applications which require freshwater from highly impaired saline water sources. It said the investment from BP, which has partnered with the company in test projects, will allow it to continue its technology development. Saltworks is also backed by the venture capital program of Cenovus Energy Inc and by Teck Resources Ltd.

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