STWA Contracting With Pipeline Research Council International (PRCI) to Test Groundbreaking AOT™ Technology
Tests at U.S. Department of Energy's (DOE) Rocky Mountain Oilfield Testing Center (RMOTC) to Be Co-Funded Through PRCI Support
SANTA BARBARA, CA--(Marketwire - January 20, 2011) - STWA, Inc (
"PRCI and STWA are entering into a contract to co-fund the field testing at the U.S. Department of Energy's Rocky Mountain Oilfield Testing Center," stated Mr. Michael P. Whelan, PRCI's Director of Facilities Programs at PRCI. "Our members have identified the AOT™ as having potentially significant impact, and STWA has been successful in bringing together a set of project participants that we feel will allow a rigorous evaluation of this technology." He added, "The project team of STWA, Colfax Corporation and the PRCI member oil pipeline representatives has established a final site design and actionable test plan, enabling a go-ahead for work at the DOE facility."
"STWA's AOT™ for supplemental viscosity reduction is compelling to PRCI and those they represent for its potential to deliver greater pipeline throughput capacity, energy efficiency and environmental safety," stated Mr. Cecil Bond Kyte, Chairman and Chief Executive Officer of STWA, Inc. "We believe that our technology can create significant value and cost savings for pipeline operators. We are honored and excited by PRCI's support."
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STWA, Inc. (
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About PRCI
The Pipeline Research Council International (PRCI) is a research consortium comprised of the world's leading energy pipeline companies and vendors, service providers, equipment manufacturers, and support organizations to the pipeline industry. PRCI is a unique forum within the worldwide energy pipeline industry, delivering value to its members and the industry through the development and deployment of new solutions to the design, construction, integrity, operational, maintenance, and regulatory challenges that face the energy pipeline industry. Its members include 33 energy pipelines around the world who transport natural gas, crude oil and refined products. For more information about PRCI and a complete list of members, please visit http://www.prci.org/.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Released January 20, 2011