The Oregon Water Trust (OWT), now operating as The Freshwater Trust, is an environmental organization based in the U.S. state of Oregon. Its mission is to restore surface water flows for healthier streams in Oregon by using cooperative, free-market solutions. OWT was founded in 1993 by a group with diverse water interests who sought to utilize the "tools of the land trust movement...and apply the same approach to the acquisition of water". "With the success of OWT, water trusts have been created in Montana, Colorado, and Washington" with others emerging across the Western United States. Utilizing a transactional approach, the group focuses on streams where small amounts of water provide significant ecological benefits.