LINDON, Utah, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Profire Energy, Inc. (NASDAQ:PFIE), a technology company (the “Company”) which creates, installs and services burner and chemical management solutions in the oil and gas industry, today highlighted over six new feature enhancements for their marquee PF3100 burner management system. These features enable Profire to capture more of the market with larger and more complex installations.
“We have been focusing our R&D efforts toward developing products to address our current and potential customers’ needs for more capable systems which can accommodate the increasingly intricate field applications of today’s oil and gas industry. Dedication to innovation is how we’ll continue to grow our market share and remain an industry leader,” said Brenton Hatch, President and CEO of Profire Energy. “We have commissioned our first Forced-Air Heater at one of the largest energy midstream providers in the United States. We believe that the features of our new systems are effectively satisfying the industry demand for new and updated technology. Thus far in FY17, we have seen our PF3100 installed by multiple new customers who have been seeking the increased functionality our systems provide, such as IO expansion, UV flame detection and FARC features.”
The 2017 new advanced features that are now available include:
- FARC (Fuel/Air Ratio Control) –The PF3100’s integrated Fuel Air Ratio Control provides forced-air applications with precision and tight control of the fuel-air mixture being supplied to the burner which can dramatically improve efficiency and reduce emissions.
- IO Expansion – Incorporates more IO into the overall solution providing customers efficiency gains by being able to increase the number of devices to a central position for monitoring and control.
- Secondary PID and Advanced PID – Provides functional simplicity to complex appliances.
- Incinerator support – The ability to support larger, more advanced, incinerator and waste gas applications.
- UV Flame detection – Often required on units where larger, more complex burners are utilized.
- Temperature logging – Designed to aid in improving customer experience and efficiency in process tuning.
“Developing new and cutting-edge technology is what has enabled Profire to grow into the industry leader it is today and we believe ongoing R&D will to be a critical success factor for our future. We continue to invest in new product development and additional capabilities for our existing systems and are committed to bringing new products to market in the coming years” said Ryan Oviatt, CFO of Profire Energy.
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 and chemical injection systems are increasingly becoming part of their solution. Profire Energy has offices in Lindon, Utah; Houston, Texas; Shelocta, Pennsylvania; Greeley, Colorado; and Spruce Grove, Alberta, Canada. For additional information, visit www.profireenergy.com.
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 the ability to capture more of the market with additional features, continued investment in product development and additional capabilities, significant opportunities that lie ahead for the Company, the Company’s ability to capitalize on opportunities, grow and turn a profit in a tough business environment, and the Company’s ability to remain an industry leader. 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 and 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:
Matthew Selinger
Three Part Advisors, LLC
817-310-8776
mselinger@threepa.com