Clean Chemistry, Inc. Announces Partnership with Black Bay Energy Capital

Clean Chemistry, Inc. (“Clean Chemistry” or the “Company”), a provider
of patented chemical solutions and technology for oilfield water
treatment, today announced a growth capital investment from Black Bay
Energy Capital (“Black Bay”).

Clean Chemistry’s chemical technologies target produced water recycling
and disinfection for hydraulic fracturing. The Company’s flagship
product, PeroxyMAX, enables rapid bacteria control and solids separation
in a more efficient and safer manner than alternative options like
chlorine dioxide. PeroxyMAX has a loyal existing customer base and
demand is quickly accelerating.

Black Bay’s investment enables Clean Chemistry to expand its client
base, management team, and service offerings. The Company is
experiencing rapid growth in the Permian Basin and is expanding its
footprint in West Texas and New Mexico.

Damon Waters, co-founder and CEO of Clean Chemistry, said, “Our growing
client base had been seeking a low cost, highly effective biocide that
doesn’t degrade frac iron nor pose a safety hazard. PeroxyMAX is that
solution and we couple it with comprehensive performance data on
real-time dashboards. The Clean Chemistry team has built a process
solution that meets treatment targets while lowering costs and improving
safety for the E&P community. The entire Clean Chemistry team is proud
to announce this new partnership with Black Bay and is excited to
further elevate the level of service we’re able to provide our
customers. Black Bay’s oilfield experience, industry relationships, and
value-added capital will enable the Company to significantly accelerate
our plans and I’m thrilled to be working with them.”

Wayne Buschmann, co-founder and CTO of Clean Chemistry, added “This new
partnership with Black Bay positions Clean Chemistry to pursue strategic
growth opportunities in response to demands from our blue-chip customer
base. Our team is committed to continuous innovation and we are focused
on developing next generation water management solutions for our
clients’ completion & production operations.”

“We are very excited to partner with Damon, Wayne and the entire Clean
Chemistry team,” said Tom Ambrose, Partner of Black Bay. “Clean
Chemistry is delivering unique, low-cost solutions for oilfield water
management, one of the industry’s largest pain-points. The Company’s
offerings enhance the safety and operational efficiency of completion
and produced water re-use operations.” Michael LeBourgeois, Managing
Partner of Black Bay, added “Black Bay’s investment in Clean Chemistry
is another great example of our focus on innovative and proprietary
products, services and technologies that can improve the economics and
safety of oilfield operations.”

Horwood Marcus & Berk served as Clean Chemistry’s legal counsel. Cooley
LLP served as Black Bay’s counsel on the transaction.

About Clean Chemistry:Clean
Chemistry is a fast-growing, innovative upstream water treatment
provider. Founded in 2012, headquartered in Colorado with field offices
in Texas, Clean Chemistry developed a patented family of liquid
chemistries that evolve Reactive Oxygen Species (ROS). This technology
represents a significant disruption to the current inefficiencies in the
production, distribution and performance of oxidation and disinfection
chemistry. PeroxyMAX provides oil and gas operators a safe, economic
chemistry for frac-on-the-fly and produced water

About Black Bay Energy Capital:Black
Bay Energy Capital is an energy private equity firm investing in the
North American oilfield service sector. Leveraging more than 60 years of
industry experience, Black Bay partners with high-growth companies and
experienced management teams with next-generation products, services and
technology solutions that drive value and enhanced efficiency for
customers in the oil & gas industry. The firm is investing out of its
$224 million fund, Black Bay Energy,

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