LINDON, Utah, Aug. 12, 2014 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (Nasdaq:PFIE), a technology company which manufactures, installs and services burner management systems and other combustion technologies for the oil and gas industry, has unveiled a new product for use in oilfield flare stack environments, the Flare Stack Igniter (FSI). Flare stacks are used throughout the industry to burn off unwanted natural gas.
Profire currently resells various burners and pilots that are often used with the Company's burner management system (BMS); however, the Company has not historically offered a pilot specifically for flare-stack environments.
"Flare stacks are historically very challenging for producers to manage," said Stephen Pitcher, a career rocket- and aerospace-scientist who was lead engineer on the project. "Although the flare stacks are often installed in extremely harsh environments, they are also a subject of regulatory scrutiny, as their pilots are often expected to maintain constant flame—a significant challenge for much of the industry. Our FSI offers a reliable, powerful solution to help finally solve this industry problem."
By extending Profire's product-line with the FSI, the Company can now offer a proprietary pilot for flare stack environments. The Company also sells flare ignition systems designed specifically for such environments, such as the Company's PF2100F or PF1300 Flare Ignition Systems. The price-point and costs of the FSI are expected to help enhance the Company's product-margin.
"The launch of the FSI further demonstrates our responsiveness to the industry's needs," said Harold Albert, Chief Operating Officer of Profire. "Much of the industry is using flare-stack igniters that struggle to stay operational in intense flare environments. Our FSI has been designed to perform exceptionally in these environments. Its orifice size, core assembly, composition, reliable flame-sensing, and ease-of-installation all combine to make it a robust, powerful igniter for the industry."
The Company has installed dozens of systems for testing throughout North America, in various environments, with no incidents of product-failure. Real-world and simulated tests of harsh weather environments—including torrential rain tests, and wind tests of nearly 200 MPH—were also performed, with the FSI maintaining a constant flame throughout testing.
Systems are available immediately for purchase, by contacting a Profire sales representative. To learn more about Profire Energy, please visit www.ProfireEnergy.com.
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient production and transportation of oil and natural gas. As energy companies seek greater safety for their employees, compliance with more stringent regulatory standards, and enhanced margins with their energy production processes, Profire Energy's burner management systems are increasingly becoming part of their solution. Profire Energy has offices in Lindon, Utah; Houston, Texas; Victoria, Texas; Oklahoma City, Oklahoma; Tioga, Pennsylvania; and Edmonton, Alberta, Canada.
Cautionary Note Regarding Forward-Looking Statements.Statements made in this release that are not historical are forward-looking statements. This release contains forward-looking statements, including, but not limited to statements regarding its sales, marketing, and operational advancements/expansions, including, but not limited to, the difficulty experienced by producers in managing flare stacks and the Company's capability to offer or provide a reliable, powerful solution to the same; the expectation or potential for the FSI may enhance the Company's overall product-margin; the representation of the launch of the Company's responsiveness to the industry's needs; the expectation of the FSI to perform exceptionally in intense flare environments, and its potential as a robust, powerful igniter for the industry. All such forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, public market and regulatory risks and factors identified in the company's periodic reports filed with the Securities Exchange Commission. All forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, except as required by law. Readers should not place undue reliance on these forward-looking statements.
CONTACT: Profire Energy, Inc. Andrew Limpert, CFO (801) 796-5127 Profire Energy, Inc. Nathan McBride, VP Strategy & Finance (801) 796-5127 Liolios Group, Inc. Ron Both, Senior Managing Director (949) 574-3860 PFIE@liolios.com