Actionable news
0
All posts from Actionable news
Actionable news in PFIE: PROFIRE ENERGY INC,

Profire Unveils Next-Generation Burner Management System, Designed For Long-Term Strategic Flexibility

The following excerpt is from the company's SEC filing.

Company’s New 3100 System To Manage Larger, More Complex Industry Applications; Designed to Significantly Reduce Installation Time and Site-Customization Costs

- Profire Energy, Inc. (Nasdaq:PFIE), a technology company, which creates, installs and services oilfield burner and chemical management solutions in the oil and gas industry, today unveiled a new burner-management product for operating, monitoring, and controlling complex, multi-faceted oilfield applications. Burner management systems are used throughout the industry to assist in the production and transporta tion of crude oil and natural gas.

The newly announced management system, the PF3100, is an advanced management system designed to work with any number of Profire-engineered modules, specific to different applications, thus allowing the system to expertly manage a wide variety of different applications and possibly environments in future years. The Company intends to make the system available for sale in the coming months for initial use in the oil and gas industry’s natural-draft market, with additional modules, possibly including forced-air modules, planned for the near-future. The Company has been field-testing systems with various customers throughout North America.

“We’ve built the PF3100 with continued Company growth in mind by using a totally new, module-based approach,” said Brenton Hatch, Profire Energy CEO. “This allows us to easily create a customized solution for a vast array of burner applications, while also granting the Company the flexibility to enhance the system’s capability for years to come. The brilliant design of the system provides a great foundation and platform for us to manage increasingly large and complex applications in the years to come.”

WHAT IS THE PF3100?

Comprised of an enclosure and one or more card(s), a Profire-engineered module works with a PF3100 system to perform a specified function. The PF3100’s modular approach affords customers a robust à la carte design experience, allowing end users to commission complex, custom applications in an off-the-shelf type fashion.

“Currently, oil and gas engineers are utilizing existing PLC (Programmable Logic Controller) or HMI (Human Machine Interface) technology to outfit complex oilfield and other industrial applications,” said Patrick Fisher, Profire’s R&D Manager. “Though capable of meeting heavy demands, these systems require a significant investment of resources. The PF3100 is designed to improve this technology resulting in a significant savings. It absorbs much of an application’s complexity, so the user doesn’t have...


More