Profire Energy Issues Corporate Update Concerning R&D Initiatives
Company Researching Improvements to Existing Products, Potential for New
LINDON, Utah, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Profire Energy, Inc.
(OTCBB:PFIE), which manufacturers, installs and services burner management
systems and other combustion management technologies for the oil and gas
industry, today issued a corporate update concerning its current research and
development (R&D) initiatives. The company announced that it is researching a
number of technologies that could potentially enhance its existing product
*Improvements to the industry's currently available valve train
*A better method for generating electricity in the field, which could
potentially power on-site products like the company's burner management
*Upgrades to its pilot nozzle to enhance flame-sensing and ignition
capabilities of its burner management systems
*Expanded service-related activities that could yield recurring revenue for
*The next generation of the company's flagship burner management system
"Our current R&D initiatives speak to our ongoing interest in developing new
technologies for the industry," said Brenton Hatch, chief executive officer of
Profire Energy. "While we continue to pursue innovations with our flagship
burner management systems, we are also very interested in complementary
technologies that could enhance our product offering and be sold with our
burner management systems."
The company believes some of the projects could result in new products within
"The development stage of each R&D initiative varies greatly, but some of the
projects are showing potential to yield market-ready products in the next
twelve months," said Justin Hatch, VP of Business Development of Profire
About Profire Energy, Inc.
Profire Energy assists energy production companies in the safe and efficient
transportation, refinement and production of oil and natural gas. As energy
companies seek greater safety for their employees, compliance with more
stringent EPA standards and enhanced margins with their energy production
processes, Profire Energy's burner management systems are increasingly
becoming part of their solution. To learn more about the company's products
and services, please visit www.profireenergy.com. Profire has offices in
Lindon, Utah; Houston, Texas; and Edmonton, Alberta, Canada.
The Profire Energy, Inc. logo is available at
Cautionary Note Regarding Forward-Looking Statements.This release contains
"forward-looking" statements regarding our research and development
initiatives and potential new products and services we may be working to
develop, including comments about the possible benefits they might offer.All
such forward-looking statements are subject to uncertainty and changes in
circumstances. Forward-looking statements are not guarantees of future results
or performance and involve risks, assumptions and uncertainties that could
cause actual events or results to differ materially from the events or results
described in, or anticipated by, the forward-looking statements. Factors that
could materially affect such forward-looking statements include certain
economic, business, public market and regulatory risks and factors identified
in the Company's periodic reports filed with the Securities Exchange
Commission.All forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995.All forward-looking statements are made only as of the date of this
release and the Company assumes no obligation to update forward-looking
statements to reflect subsequent events or circumstances. Readers should not
place undue reliance on these forward-looking statements.
CONTACT: Profire Energy, Inc.
Andrew Limpert, CFO
Profire Energy, Inc.
Nathan McBride, Investor Relations
Profire Energy Logo
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