PCT Announces 21st Century Energy Inc Contract

Rhea-AI Summary

PCT LTD (OTC Pink: PCTL) announced a significant contract with a large oil service company in the western United States through its subsidiary, 21st Century Energy Inc. This partnership will utilize PCTL's environmentally friendly biocide, which remediates toxic hydrogen sulfide (H2S) in oil production. The biocide's application not only enhances safety but also optimizes profit potential for oil producers by improving refinery processes. Recently, three large volume machines were shipped to the service company, underscoring PCTL's operational momentum.

Positive

• Executed a contract with a large oil service company, enhancing business growth.
• Environmental product addresses H2S issues, mitigating safety risks and operational delays.
• Successful shipment of three large volume machines indicates operational capability.

Negative

• None.

LITTLE RIVER, SC, Sept. 29, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – PCT LTD (OTC Pink: PCTL): 21st Century Energy Inc, a subsidiary of PCTL, is pleased to announce an executed contract with a large oil service company in the western United States. PCTL recently formed two subsidiaries:  21st Century Energy, Inc. and 21st Century Healthcare, Inc. The subsidiaries were formed so each one could focus on their respective industries. 21st Century Energy provides EPA-approved low-toxic, environmentally friendly biocide to the oil and gas industry used downhole for remediation and elimination of highly toxic hydrogen sulfide (H2S) and its associated bacteria. H2S can destroy equipment, delay, or cancel the sale of produced oil, add to the disposal costs of byproducts, and create a safety risk to those working around the well site, or in the transportation, processing of produced products. Refineries pay more per barrel for sweet oil than oil containing H2S or from sour wells allowing oil producers to maximize profits. Our biocide is also used by the fracking industry to disinfect fracking water facilities. 21st Century Energy, Inc. shipped (3) large volume machines to the oil service company last week.

About PCT LTD:

PCT LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, eco-friendly disinfecting, cleaning, and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly owned operating subsidiaries, Paradigm Convergence Technologies Corporation, 21st Century Healthcare, Inc. and 21st Century Energy, Inc. 

Forward-Looking Statements:
This press release contains "forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; benefits arising from the transfer of assets into the two subsidiaries; the ability of the subsidiaries to attract investment and strategic alliance opportunities; and any other effects resulting from the information disclosed above. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts
Investor Relations Contact
Tim Rieu
410-825-3930
or
ir@pctl.com

Follow us:
www.pctl.com

Twitter: 
twitter.com/PCTL

twitter.com/21stEnergy

LinkedIn:
linkedin.com/company/paradigm-convergence-technologies
linkedin.com/company/21st-century-energy

FAQ

What is the recent contract signed by PCTL?

PCTL signed a contract with a large oil service company to provide an environmentally friendly biocide for H2S remediation.

How does PCTL's biocide benefit oil producers?

PCTL's biocide helps eliminate toxic H2S, improving safety, reducing disposal costs, and allowing producers to maximize profits.

What recent shipment did PCTL make?

PCTL shipped three large volume machines to the oil service company as part of their new contract.

What is the focus of PCT LTD's subsidiaries?

PCT LTD's subsidiaries focus on sustainable and eco-friendly technologies in the energy and healthcare sectors.

What stock symbol represents PCT LTD?

The stock symbol for PCT LTD is PCTL.