Enerlabs Signs Agreements to Acquire Two Companies
PR Newswire
OKLAHOMA CITY, May 4, 2015
OKLAHOMA CITY, May 4, 2015 /PRNewswire/ — Enerlabs, Inc. (OTC pink:ENLB) is pleased to announce the signing of formal purchase agreements to acquire Steam Testing Solutions, a California company and AccuSteam, a Colorado company. Subject to financing, each company will become a wholly owned subsidiary of Enerlabs, Inc. but will continue to operate as individual entities while being reported under consolidation.
Over the past 34 years, Steam Testing Solutions (STS) has become a recognized leader as an innovative designer, builder and operator of multi-phase high pressure steam quality testing systems for the thermally enhanced oil recovery industry. STS primarily serves a diverse client base in North America, which includes some of the leading players in the oil & gas industry, but also has provided products and expertise internationally with equipment sales in Oman, China, Argentina, Japan, Canada and Indonesia. Owner, operator and inventor, Dan Hutchinson has agreed to continue operating STS and AccuSteam, as well as consulting with Enerlabs for the next two years.
Please visit the STS website at www.steamtestingsolutions.com
AccuSteam is a newly formed company for the purpose of launching a revolutionary new product developed to measure steam quality and flow rate at fixed location installations. Invented by Dan Hutchinson, the “AccuSteam” meter received formal patent approval in March 2015. In April 2015, the full line of AccuSteam products were installed in two oil field demonstrations providing a showcase for potential customers and investors to see the product line in actual service. Along with the applications for AccuSteam in the oil & gas sector, the meter can be applied to a wide range of industries. The Company has had inquiries from hospitals, pharmaceutical companies and other medical steam users. There has also been interest from package boiler manufacturers, process plant steam users and steam turbine manufacturers and operators.
About Enerlabs, Inc.
The management of Enerlabs, Inc. has 25 years of experience working in public companies. We are currently negotiating to combine our public resources with established laboratories and related services companies that have experienced personnel, up-to-date equipment and a history of providing reliable service to their clients. Our strategy is to gain certain advantages through networking the companies that participate such as, volume discount purchasing, combined accounting, group insurance, cross-over sales, shared software and most importantly shared ideas. Please visit Enerlabs, Inc.’s website at www.enerlabsinc.com.
Safe Harbor for Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Enerlabs’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Enerlabs expressly disclaims any intent or obligation to update any forward-looking statements.
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SOURCE Enerlabs, Inc.
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