If clean deals are to be done, a combination of open innovation, corporate venturing and good old financial venturing are increasingly going to be required.

“Contrary to popular belief, oil and gas is not a Wild West industry. It is very conservative,” says Dave Henderson, managing partner of XPV Capital, a Toronto-based growth equity investor focused on water services in Canada’s hydrocarbons sector. “This is where the corporate venturing and open innovation models can add value. To penetrate the industry you need to win trust. So a large corporate or an established service provider can help.”

That is the problem with clean deals – they can be dirty, slow-moving and plain difficult. The new water infrastructure solutions offered…