Companies · Environmental Services

Greenback - Produced Water Recovery, Llc

DENVER · Environmental Services

Diligence memoA one-page analyst read on Greenback - Produced Water Recovery, Llc — recommendation, valuation, rhythm, risks.
$5.0M
Total raised · real
2
Rounds
0.3×
Latest step-up
Top 35%
Sector rank · raised
Seed
Latest stage · inferred · Fri Aug 24 2012 00:00:00 GMT+0000 (Coordinated Universal Time)

Greenback - Produced Water Recovery, Llc looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.67× the median modeled value of Seed Environmental Services companies in 2010–2012 (15 peers) — value vs value, same stage and era.
Dormant
  • Last raise 13.9 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Greenback - Produced Water Recovery, Llc behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
56.5 yr record
Peak capital year was Undated with $4.0M across 1 filings.
Market position
ahead of 66% of Environmental Services peers
Capital scale is ahead of 66% of Environmental Services peers; modeled value is above 52% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in Undated: $4.0M across 1 filings.
  • Largest single filing was $4.0M on .
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Environmental Services

Greenback - Produced Water Recovery, Llc is one of 242 Environmental Services companies tracked from DENVER. By capital raised it ranks mid-pack (ahead of 66% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$13M$25M$38M$50MSeed · Raised $4.0M (real) Modeled valuation $7.4M (est)$4.0M$7.4MSeedSeed · 2012-08-24 Raised $1.0M (real) Modeled valuation $27M (est)$1.0M$27MSeed2012+$1.0MCumulative $5.0M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$4.0M
Seed extension$1.0M · 2012

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$27.1M
Base estimate est.
$828K
Conservative case
$212.9M
Upside case
$5.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Seed · modeled $7.4M · Seed · modeled $27.1M · 2012-08-242012
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
37%
Survival probability
17% low · 57% high
1.57×/yr
Annual markup
2.05×/yr upside case
6.0 yr
Elapsed time used
13.8 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
512 mo
Avg between rounds
$117K/yr
Capital velocity
56.5 yr
On record since
1970
First round
2
Rounds on file
How it compares to the market

Benchmarked against 242 companies in Environmental Services. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 2.2× above median
This company$5.0M
Sector median$2.3M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.7× of median
This company$1.0M
Sector median$1.5M
Modeled value — vs sector median (estimate, all stages) 1.1× above median
This company$27.1M
Sector median$25.3M

Raised more than 66% of sector peers (real $). Modeled value above 52% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #11 of 15.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Protech Services Inc · Seed Raised $9.2M · modeled $96.9M (est)Windy Butte Reclamation Facility, Llc · Seed Raised $3.5M · modeled $95.0M (est)Environmental Operating Solutions Inc · Seed Raised $2.9M · modeled $78.1M (est)EQM Technologies & Energy, Inc. · Seed Raised $2.5M · modeled $67.8M (est)Paradigm Biosciences International LLC · Seed Raised $2.0M · modeled $54.3M (est)AirMD, Inc. · Seed Raised $2.0M · modeled $54.3M (est)Appliance Recycling Centers Of America Inc /Mn · Seed Raised $1.8M · modeled $49.7M (est)Eos Climate Inc · Seed Raised $5.1M · modeled $40.7M (est)GreenStract, LLC · Seed Raised $1.5M · modeled $40.7M (est)Spectrasensors Inc · Seed Raised $3.3M · modeled $32.2M (est)Ridgeline Energy Services Inc. · Seed Raised $6.6M · modeled $24.0M (est)Greenback - Produced Water Recovery, Llc (this company) Raised $5.0M · modeled $27.1M (est)Greenback - Produced Water Recovery, Llc
CompanyStageRaised · realValue · estvs peer med.
Protech Services IncSeed$9.2M$96.9M2.38×
Windy Butte Reclamation Facility, LlcSeed$3.5M$95.0M2.33×
Environmental Operating Solutions IncSeed$2.9M$78.1M1.92×
EQM Technologies & Energy, Inc.Seed$2.5M$67.8M1.67×
Paradigm Biosciences International LLCSeed$2.0M$54.3M1.33×
AirMD, Inc.Seed$2.0M$54.3M1.33×
Appliance Recycling Centers Of America Inc /MnSeed$1.8M$49.7M1.22×
Eos Climate IncSeed$5.1M$40.7M1.00×
GreenStract, LLCSeed$1.5M$40.7M1.00×
Spectrasensors IncSeed$3.3M$32.2M0.79×
Greenback - Produced Water Recovery, Llc this companySeed$5.0M$27.1M0.67×
Ridgeline Energy Services Inc.Seed$6.6M$24.0M0.59×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.0M2012-08-24$5.0M$27.1M90%
Seed$4.0M$20.0M$7.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.0M2012-08-24
    • First recorded raise — entered as Seed.
Intelligence
2055 ~Q2
Modeled next raise · ~512mo cadence
$1.0M
Modeled next size est.range $1.0M$1.6M
0.3×
Last step-up
$117K/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Clarence H. Brown2012-08
Daniel J. Packard2012-08
Eric Hick
Eric J. Hick2012-08
Jerome W. Cwiertnia2012-08
Joby Adams
Registry & provenance

Greenback - Produced Water Recovery, Llc is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1465746
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Eos Climate IncEnvironmental ServicesSeed$5.1M$40.7Msame sector · same stage
Langan Management Aggregator LLCEnvironmental ServicesSeed$5.1M$658Ksame sector · same stage
Carden, LLCEnvironmental ServicesSeed$4.8M$16.6Msame sector · same stage
Earth911, Inc.Environmental ServicesSeed$5.2M$11.3Msame sector · same stage
Circularity2, LLCEnvironmental ServicesSeed$4.8M$4.1Msame sector · same stage
Swirltex Holdings Corp.Environmental ServicesSeed$4.5M$9.3Msame sector · same stage
Maxwest Environmental Systems IncEnvironmental ServicesSeed$4.5M$20.4Msame sector · same stage
Ridgeline Energy Services Inc.Environmental ServicesSeed$6.6M$24.0Msame sector · same stage
Frequently asked
How much funding has Greenback - Produced Water Recovery, Llc raised?
Greenback - Produced Water Recovery, Llc has raised approximately $5.0M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Greenback - Produced Water Recovery, Llc's estimated valuation?
Provath's modeled valuation for Greenback - Produced Water Recovery, Llc is approximately $27.1M (modeled range $828K–$212.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Greenback - Produced Water Recovery, Llc at?
Greenback - Produced Water Recovery, Llc's latest modeled financing stage is Seed. Its most recent recorded round closed around Fri Aug 24.
What does Greenback - Produced Water Recovery, Llc do and where is it based?
Greenback - Produced Water Recovery, Llc operates in the Environmental Services sector, based in DENVER.
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