HOUSTON, Feb. 11, 2019 (GLOBE NEWSWIRE) -- QS Energy, Inc. (the "Company" or “QS Energy”) (OTCQB: QSEP) is a developer of integrated technology solutions for the energy industry. The following is a shareholder update from Jason Lane, Chief Executive Officer and Chairman of the Board, QS Energy, Inc.
The new year is off to a quick start as the Company continues to advance a number of important initiatives. Of course, top on this list is our AOT demonstration project, which continues to progress as planned. As of today, much of the work on this project is in the very capable hands of our pipeline operations partner as they work to complete the AOT installment design, site preparation and installation details.
Last week, Shannon Rasmussen, our VP of Engineering, met with project partner team members at the demonstration site. “It was important for me to confirm first-hand the AOT installation location, orientation and utility coordination,” said Rasmussen. “Site and pipeline selection are excellent, with easy access and operating characteristics well aligned with our demonstration and data collection needs. Once site preparation is complete, we stand ready to deliver, install and begin operations.”
With progress accelerating on our AOT demonstration project, we are now in what we hope will be the final steps towards commercial operations. This has led us to restructure internal operations and external communications. All engineering, mechanical and logistical functions have been moved to Houston operating out of our headquarters in Tomball, Texas. We now see the need to consolidate corporate and investor communications to that of one voice ensuring all current and potential investors continue to receive consistent, complete and accurate information. We recently began the process of selecting an investor relations firm with expertise in public small-cap corporate growth and a public relations firm with specific crude oil industry experience. We plan to retain a public relations firm before the end of this quarter and retain an investor relations firm shortly thereafter.
In parallel, Mr. Rasmussen is continuing value engineering work begun in 2018, fine-tuning system and component-level designs, computerized 3D modeling and preparing requests for proposals to lock down equipment costs and lead times in anticipation of future AOT sales and deployment. In support of this effort, Mr. Rasmussen plans to enhance our internal resources by adding an engineer with equipment design and oil industry experience to his team in the near future.
In support of this restructuring and after much consideration of our long-term strategic plans and goals, John Valenti has agreed to step down from his combined roles in project management and investor communications and return to his previous career in law enforcement. “After many years of working with QS Energy, I am proud of this company and its technology. Though it will be hard to watch from the sidelines, I’ll be excited to follow progress and results of the demonstration project. I see a great future ahead for the company and its AOT technology.” With his deep knowledge of our technology and strong relationship with many investors and supply chain partners, Mr. Valenti has been a valuable resource for the Company. We thank him for his many years of support and service and wish him the best in his future endeavors. Going forward, all investors are encouraged to communicate with the Company directly by email at firstname.lastname@example.org or through our investor relations phone line at (281)845-8097.
On a final note, I am pleased to announce QS Energy has been invited to participate as a premium presenting company in the annual Spring Investor Summit in New York City, April 1st and 2nd. “We are excited to host QS Energy,” said Tony Yu, CEO The MicroCap Conference. “QS Energy CEO Jason Lane and CFO Michael McMullen will be presenting to an audience of investors in the energy track room as well as participating in 1x1 meeting discussions with many qualified, pre-screened investors.” The Spring Investor Summit’s focus is to highlight the most compelling publicly traded small-cap and micro-cap companies across all sectors. This upcoming event will feature up to 200 presenting companies, 1200 institutional and retail investors, many one-on-one meeting opportunities, expert speakers, and industry panels.
We are excited by QS Energy’s prospects for 2019 and believe our strategy and team are positioned for success. Once again, we thank you for your support.
CEO, QS Energy, Inc.
For further information about QS Energy, Inc., visit www.QSEnergy.com, read our SEC filings at http://ir.stockpr.com/qsenergy/all-sec-filings and subscribe to Email Alerts at http://ir.stockpr.com/qsenergy/email-alerts to receive Company news and shareholder updates.
Safe Harbor Statement
Some of the statements in this release may constitute forward-looking statements under federal securities laws. Please visit the following link for our complete cautionary forward-looking statement: http://www.qsenergy.com/site-info/disclaimer
About Applied Oil Technology
QS Energy’s patented Applied Oil Technology (AOT) is a solid-state turn-key system which uses a high volt / low amp electric field to reduce crude oil viscosity. AOT installs inline on crude oil pipelines, operates unattended without interrupting pipeline flow, with full remote monitoring and control. More information is available online at www.qsenergy.com/technology.
About QS Energy
QS Energy, Inc. (OTCQB: QSEP), develops and markets crude oil flow assurance technologies designed to deliver measurable performance improvements to pipeline operations in the midstream and upstream crude oil markets. More information is available at www.qsenergy.com.
QS Energy, Inc.
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Source: QS Energy, Inc.