Poseidon Resources is a company that develops, invests in, and manages water infrastructure projects with a focus on seawater desalination and water treatment plants. These projects are implemented through innovative public-private partnerships in which Poseidon assumes the risk of project development while enabling local governments and water agencies to fund other essential needs. Headquartered in Stamford, Conn., with regional offices in Long Beach, Carlsbad and San Diego, Poseidon is ranked as a top 10 developer of infrastructure projects by Public Works Financing and has developed, financed, and constructed over $2.8 billion in infrastructure projects.
Executive's name: Peter MacLaggan
Title: Senior Vice President
Company name: Poseidon Resources Corporation
Address: 4600 Carlsbad Boulevard, Carlsbad, CA 92008
Phone: (760) 438-7516
Web site: www.Carlsbad-desal.com and www.Poseidon1.com
Founded: 1994
Prior experience: Twenty-five years of public agency and private sector experience in water supply planning and development.
Source of starting capital: Warburg Pincus
Average hours worked weekly: 50
Number of teammates: 35
National and international ventures your company is currently involved in: Poseidon develops and invests in domestic and international projects that include the largest, privately funded, wastewater treatment facility in the U.S. located in Cranston, R.I., and the largest portfolio of privately-financed water infrastructure projects in Mexico, in partnership with PEMEX, the national oil company.
What makes your business unique? Poseidon employs a specific combination of engineering, technology, contracting, and financial tools specifically designed to best suit the needs of our clients and the requirements of the specific project. This approach provides workable solutions to water challenges, while our clients get high-quality, reliable water supplies and wastewater treatment along with price stability.
Drawbacks to your line of business: In California, it can take up to 10 years to go from concept to commercial operation of a large-scale water project.
Why is your project located in Carlsbad? Carlsbad has an ideal location for a seawater desalination plant; a community that understands the value of a reliable water supply and city officials who are effectively planning for the long term needs of the community.
What special expertise do you bring to the company? Twenty-five years of public agency and private sector experience in water supply planning and development; a bachelor of science in civil engineering from San Diego State University and a Juris Doctorate from the University of San Diego School of Law.
What got you into the business? In 1978, while still in college, I took a job as an entry level engineer with what was then the world's leading manufacturer of reverse osmosis desalination technology.
How does your company plan to grow? Poseidon's long-term corporate goal is to continue offering our private sector experience and expertise in partnership with the public sector to build desalination projects and water treatment and supply projects in municipalities like Carlsbad.
What has been your greatest accomplishment in business? Changing the way people think about seawater desalination as a means of addressing their water supply needs, which led to the City of Carlsbad's approval of an historic water purchase agreement, ensuring Carlsbad residents will have a reliable supply of water for decades to come.
Ongoing challenges: Public education
Best way to stay competitive in an ever-changing market: Ensure that our projects continue to utilize an innovative combination of technology and financing that is carefully selected to suit the particular requirements of the project, client and the budget.
In five years, where would you like your business to be? Delivering 50 million gallons of high-quality drinking water to Carlsbad and the surrounding communities per day, and translating that experience globally to other regions that have similar water demands and constraints.
What does your company contribute to the Carlsbad community? Poseidon is committed to being an active corporate citizen in the community and our desalination facility will create jobs, generate tax revenue, improve water quality and enhance water reliability with a new drought-proof supply.
What are your company's guiding principles? To provide a timely, affordable and environmentally responsible solution to address the water supply and water treatment needs of our clients.
What's one thing other people do not know about your industry? Modern day reverse osmosis technology used in desalination was born out of San Diego's own General Atomics in the 1960s. Today, San Diego County is home to much of the international desalination industry, with over 35 desalination-related companies employing 2,200 people and generating over $200 million in annual revenue. There are over 21,000 seawater desalination plants operating throughout the world today. Collectively, these facilities produce over three billion gallons of water a day, serving every conceivable use including agriculture, industrial supply and municipal drinking water.
Best piece of advice you were ever given? You only have to work a half a day to get ahead in business. What you do with the other twelve hours is up to you.
Your advice for new entrepreneurs: Nothing worth fighting for ever comes easy.
Executive's name: Peter MacLaggan
Title: Senior Vice President
Company name: Poseidon Resources Corporation
Address: 4600 Carlsbad Boulevard, Carlsbad, CA 92008
Phone: (760) 438-7516
Web site: www.Carlsbad-desal.com and www.Poseidon1.com
Founded: 1994
Prior experience: Twenty-five years of public agency and private sector experience in water supply planning and development.
Source of starting capital: Warburg Pincus
Average hours worked weekly: 50
Number of teammates: 35
National and international ventures your company is currently involved in: Poseidon develops and invests in domestic and international projects that include the largest, privately funded, wastewater treatment facility in the U.S. located in Cranston, R.I., and the largest portfolio of privately-financed water infrastructure projects in Mexico, in partnership with PEMEX, the national oil company.
What makes your business unique? Poseidon employs a specific combination of engineering, technology, contracting, and financial tools specifically designed to best suit the needs of our clients and the requirements of the specific project. This approach provides workable solutions to water challenges, while our clients get high-quality, reliable water supplies and wastewater treatment along with price stability.
Drawbacks to your line of business: In California, it can take up to 10 years to go from concept to commercial operation of a large-scale water project.
Why is your project located in Carlsbad? Carlsbad has an ideal location for a seawater desalination plant; a community that understands the value of a reliable water supply and city officials who are effectively planning for the long term needs of the community.
What special expertise do you bring to the company? Twenty-five years of public agency and private sector experience in water supply planning and development; a bachelor of science in civil engineering from San Diego State University and a Juris Doctorate from the University of San Diego School of Law.
What got you into the business? In 1978, while still in college, I took a job as an entry level engineer with what was then the world's leading manufacturer of reverse osmosis desalination technology.
How does your company plan to grow? Poseidon's long-term corporate goal is to continue offering our private sector experience and expertise in partnership with the public sector to build desalination projects and water treatment and supply projects in municipalities like Carlsbad.
What has been your greatest accomplishment in business? Changing the way people think about seawater desalination as a means of addressing their water supply needs, which led to the City of Carlsbad's approval of an historic water purchase agreement, ensuring Carlsbad residents will have a reliable supply of water for decades to come.
Ongoing challenges: Public education
Best way to stay competitive in an ever-changing market: Ensure that our projects continue to utilize an innovative combination of technology and financing that is carefully selected to suit the particular requirements of the project, client and the budget.
In five years, where would you like your business to be? Delivering 50 million gallons of high-quality drinking water to Carlsbad and the surrounding communities per day, and translating that experience globally to other regions that have similar water demands and constraints.
What does your company contribute to the Carlsbad community? Poseidon is committed to being an active corporate citizen in the community and our desalination facility will create jobs, generate tax revenue, improve water quality and enhance water reliability with a new drought-proof supply.
What are your company's guiding principles? To provide a timely, affordable and environmentally responsible solution to address the water supply and water treatment needs of our clients.
What's one thing other people do not know about your industry? Modern day reverse osmosis technology used in desalination was born out of San Diego's own General Atomics in the 1960s. Today, San Diego County is home to much of the international desalination industry, with over 35 desalination-related companies employing 2,200 people and generating over $200 million in annual revenue. There are over 21,000 seawater desalination plants operating throughout the world today. Collectively, these facilities produce over three billion gallons of water a day, serving every conceivable use including agriculture, industrial supply and municipal drinking water.
Best piece of advice you were ever given? You only have to work a half a day to get ahead in business. What you do with the other twelve hours is up to you.
Your advice for new entrepreneurs: Nothing worth fighting for ever comes easy.