Supernova Energy, Inc. Diversifies Current Business, Enters Greenhouse Gas Exhaust Mitigation Space
Supernova Energy Inc. (OTC PINK:SPRN) has announced its strategic shift from exclusive oil and gas operations to include greenhouse gas (GHG) exhaust mitigation systems. The company has established a majority-owned subsidiary, KLIR Sky, Inc., which has secured an exclusive distribution agreement for an innovative Gas Processing and Liquefaction System aimed at reducing GHG emissions from industrial operations. Initially targeting the charcoal industry, KLIR’s technology is expected to open new revenue streams through carbon credits. CEO Nicholas Upchurch expressed optimism about the potential profitability of this venture.
- Entry into the greenhouse gas exhaust mitigation market may diversify revenue streams.
- Exclusive distribution agreement for Gas Processing and Liquefaction System could provide competitive advantage.
- Focus on environmental solutions aligns with global sustainability trends.
- Transition to new business model introduces execution risks.
- Dependence on success in the charcoal industry could limit market impact.
ROCKVILLE CENTRE, NY / ACCESSWIRE / January 19, 2022 / Supernova Energy Inc. (OTC PINK:SPRN) ("SUPERNOVA" or the "Company") a U.S. based oil and gas production and exploration company, announces the diversification of its business from solely oil and gas to include selling greenhouse gas exhaust mitigation systems and services.
The Company has newly formed a majority owned subsidiary, KLIR Sky, Inc. ("KLIR") which recently signed a master distribution agreement to exclusively sell an innovative Gas Processing and Liquefaction System (GPLS). The subsidiary, KLIR, intends to use the GPL System to reduce or eliminate most greenhouse gases ("GHG") released into the atmosphere via exhausts from industrial production smokestacks, these gases include CO2, CO, N2, O2, H and CH4. KLIR has commissioned the building of the first GPL System that is planned to be used in the charcoal industry, a historically known, heavy emitter of GHG.
The GPL System's technology will be designed to reduce GHG emissions. This allows industrial production businesses everywhere to take advantage of carbon credits and green initiatives offered by governmental bodies around the world and sell the collected liquified gases. The systems design will allow for retrofitting to exhausting exhausts and equipment or be included in new builds.
Nicholas Upchurch, CEO of KLIR and new CEO of the Company, comments: "First, I am elated to be taking over as CEO of Supernova and I wish Mr. Malone all the best. Second, I feel our move into exhaust mitigation is a big and potentially very profitable jump. The pollution problem created by GHG exhaust is very costly environmentally and economically. We believe our new business may not only be a solution to these GHG problems but also be a boon for our Company and its shareholders. We look forward to beginning this journey and are excited to share more details and our successes in the coming weeks and months."
About Supernova Energy, Inc.
Supernova Energy Inc. (OTC PINK:SPRN) is an American-based oil and gas production and exploration company with key holdings in Kansas and Kentucky. The Company's goal is to acquire economical leases in known oil and gas formations with a low cost of recovery. The strategy is to specialize in wellbore completion, re-completion, and workovers on existing oil and gas production. The Company is also in the business of greenhouse gas exhaust mitigation through its majority owned subsidiary, KLIR Sky, Inc.
Cautionary Statement Regarding Forward-Looking Statements
The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Supernova Energy Inc., plans, and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "goal," and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, performance, achievements, or financial position to be materially different from any expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements are outlined in our quarterly and annual reports.
Contact:
Nicholas Upchurch
Supernova Energy Inc.
Chief Executive Officer
info@snenergyinc.com
SOURCE: Supernova Energy, Inc.
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