Crosstex Energy is a partnership that engages in midstream natural gasand crude oil businesses including gathering, processing, transmitting and distributing natural gas, plus crude andgas marketing.
The subsea power grid encompass pumps and compressors and large variable speed drives to transport the oilandgas from the wellhead to a processing facility.
The startup also plans to use the money to develop products for processing wastewater and delivering purified water for industrial operations such as oilandgas or beverage production, Green said.