Profile Technologies Announces Service Contracts and Advances in Product Acceptance
NEW YORK–(BUSINESS WIRE)–Profile Technologies, Inc. (OTC:PRTK, the “Company”) is pleased to announce that it has been awarded multiple contracts to provide cased pipeline integrity assessments at various crossings throughout the Western United States using Profile’s EMW-C™ Inspection Method. In addition to standard one-time inspections, the contracts include the addition of permanent connectors which allow for return inspection and monitoring of the pipelines from above ground – eliminating the need for inspection related excavation in the future. Repeat monitoring at these permanent locations will be performed by Profile under additional recurring service contracts. Work under these contracts is scheduled to begin in August 2009 and continue through 2012. The Company anticipates that these contracts will lead to additional inspection and recurring monitoring services with these and other pipeline operators.
The EMW-C™ Inspection Service developed by the Company can be used by pipeline operators to non-destructively assess the corrosion conditions of cased pipeline sections using a patented long-range electromagnetic scanning process. Cased pipeline sections (typically found at road, rail, and river crossings) present a unique challenge to otherwise standard assessment technologies. The EMW-C™ was specifically developed to assess cased and thermally insulated pipelines for corrosion and other conditions that may affect the integrity of those pipelines. One method for protecting cased road crossings that is becoming increasingly popular involves filling the void between the casing and the pipe with hot wax that then protects the exterior of the pipe indefinitely from conditions that cause corrosion. Profile Technologies, Inc. has worked closely with key participants in this technology to refine and demonstrate the company’s capability to do the initial testing and long-term monitoring of wax-filled pipeline crossings. Profile is now in a unique position to provide these services to all companies interested in the many benefits of the wax-fill technology.
In April, Profile reported positive results for the EMW-I™ Internal Inspection Technology demonstration in Charlotte, NC. Since that time, Profile has received several requests for more information about the capabilities of the service. Indications show that this technology will have a significant impact on internal metallic pipe and tube inspections throughout the pipeline and refinery industries. Initial work has demonstrated that the technology can identify water holdup, solids, corrosion products, and other unfavorable internal anomalies in metallic pipe and tubes such as oil and natural gas pipelines, heat exchangers, chillers, and boiler tubes. The advantages of this technology over others include the ability to perform real-time monitoring with minimal intrusion to the pipe, as well as the ability to inspect through bends and curves. As word spreads regarding the Company’s capabilities to inspect for internal corrosion and anomalous conditions, Profile is learning of significant interest in this technology and is now planning to meet with interested operators and service providers to generate in-situ inspection and service contracts and/or partnerships.
