Formation Fluid Technology Inc. Announces Cooperative Marketing Agreement With Clear Environmental Solutions a Division of Canadian Energy Services & Technology Corp.
CALGARY, ALBERTA--(Marketwired - Nov. 23, 2015) - Formation Fluid Technology Inc. (FFT) (formerly Formation Fluid Management Inc.) (TSX VENTURE:FFM) (the "Corporation") is pleased to announce that it has entered into a Cooperative Marketing agreement with Clear Environmental Solutions (Clear) a division of Canadian Energy Services & Technology Corp. (TSX:CEU). Under the terms of the agreement, Clear and FFT will market certain of each others services to existing and new clients. FFT's CEO, Ken Rose, commented "Clear has great relationships with a significant number of intermediate and major oil companies. Exposing our Hydro-cycle system to these customers gives those companies the ability to clean and re-use produced and frac flow back water, which can provide large economic benefits. Using the Hydro-cycle system can save oil companies over 50% of their water management costs, and significantly reduce the amount of water taken from the environment. FFT and Clear have worked together on a past project and are now formalizing a mutually beneficial relationship going forward."
About the Corporation
Formation Fluid Technology Inc. has developed a three stage waste water treatment plant (Hydro-Cycle) that uses a proprietary process to clean waste water. Each plant is mobile and can process up to 1000 m3 of water per day. This system treats water to meet or exceed CCME Guidelines (Canadian Environmental Quality Guidelines), resulting in reusable water that can be used for: Boilers, Frac Water, Water Floods, and Drilling Operations. FFT has identified commercial applications for the Hydro-Cycle system within the oil and gas industry. The waste water treatment system has a primary use to reduce producers' costs of dealing with produced water. The system also satisfies the need to reuse and recycle an increasing valuable resource.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities of the Corporation being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
Source: Marketwired (Canada)
(November 23, 2015 - 10:42 PM EST)
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