Flotek Industries, Inc. Releases New International ATEX/IECEx-Certified Verax ISX/IMX™ Online Analyzers

Rhea-AI Summary

Flotek Industries (NYSE: FTK) announces the launch of the Verax ISX/IMX™ analyzers by its subsidiary JP3 Measurement. These ATEX/IECEx certified devices are built to endure extreme outdoor conditions and provide real-time measurements of important properties like vapor pressure and viscosity. With applications aimed at the oil and gas industry in North America, as well as confirmed customers in Asia and the Middle East, Flotek aims to enhance operational efficiency and reduce emissions. The Verax technology operates without emissions or complex systems, making it virtually maintenance-free.

Positive

• Launch of Verax ISX/IMX™ analyzers expands into international markets, enhancing revenue potential.
• Technology reduces emissions, improving Environmental, Social, and Governance performance.
• Confirmed deployments from customers in Asia and the Middle East indicate strong interest and market demand.

Negative

• None.

AUSTIN, Texas, Oct. 27, 2021 /PRNewswire/ -- JP3 Measurement, LLC ("JP3"), a wholly-owned subsidiary of Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK) today announced the release of a new generation of international ATEX/IECEx certified online analyzers. The Verax ISX/IMX™ analysers ("Verax™") are specifically designed to withstand routine exposure to extreme outdoor environments, ambient temperatures up to 55°C/131°F and sandstorm pollution common to international environments. JP3's Verax™ technology deliver real-time insight on valuable composition and physical properties data like vapor pressure, boiling point, flash point, octane level, API gravity, viscosity, BTU and more, simultaneously.

The Verax™ technology utilizes a state-of-the-art 12-inch touch screen edge computer featuring a human-machine-interface. The Verax IMX™ is a multi-channel system that supports up to four measurement streams while the Verax ISX™ is a single-channel system for one measurement stream. Verax™ technology provides fluid composition and physical properties measurements simultaneously at process conditions, requiring no sample transport, sample selection or conditioning systems. It has no emissions, uses no carrier gases, no complex columns or switching valves and is virtually maintenance-free. 

"JP3's differentiated technology helps oil and gas companies in North America optimize their operations and transform their businesses through real-time insights at their stabilizers, plants, blending facilities, pipelines and terminals. We are pleased to offer the same benefits to international markets through the release of the Verax ISX/IMX™ analyzers, with some customers in Asia and the Middle East already committed to deployments," said TengBeng Koid, JP3's President.  "Besides financial benefits gained through the optimization of processes, our technology has been shown to also reduce emissions. For example, using real-time RVP data at condensate stabilizers, our customers produce more liquids and reduce gas volume that would either be flared or transported, reducing carbon emissions." 

To learn more about Verax ISX/IMX™, please visit https://www.jp3.com/products/verax-isx-imx or contact sales@jp3.com.

About JP3 Measurement, LLC
Headquartered in Austin, Texas, JP3 Measurement, LLC was founded in 2005 and provides the industry's only field deployable, real time, in-line optical analyzer for both liquid and natural gas measurement.  With hundreds of measurement points in the field, JP3 is focused on improving the quality of hydrocarbon measurement and process control for the oil & gas industry.  JP3 has been a wholly owned subsidiary of Flotek since May 2020.  For additional information, please visit www.JP3.com.

About Flotek Industries, Inc.
Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their Environmental, Social, and Governance performance. Flotek's Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use.  Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its green chemistry technologies and JP3's real-time data platforms.  Flotek serves downstream, midstream, and upstream customers, both domestic and international.  Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.

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SOURCE Flotek Industries, Inc.

FAQ

What is the new product launched by Flotek Industries?

Flotek Industries launched the Verax ISX/IMX™ analyzers, which provide real-time measurement of fluid properties.

How does the Verax ISX/IMX™ technology benefit the oil and gas industry?

The technology optimizes operations, reduces emissions, and offers real-time insights on fluid composition.

What certification do the Verax ISX/IMX™ analyzers hold?

The analyzers are ATEX/IECEx certified for international safety standards.

Which regions are seeing deployments of the Verax analyzers?

Confirmed deployments are reported in Asia and the Middle East.

What are the key features of Verax ISX/IMX™ analyzers?

Features include operation under extreme conditions, real-time data measurements, and being virtually maintenance-free.