NEW YORK, Jan. 26, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring Petroteq (TSX.V:PQE) (OTCQX:PQEFF), a client of NNW engaged in the development and implementation of its proprietary, environmentally friendly, heavy oil processing and extraction technologies.
To view the full publication, titled “Blockchain Yields Strong Potential in Global Supply Chain Management,” visit: LINK
For a technology company such as Petroteq Energy, Inc. (TSX.V:PQE) (OTCQX:PQEFF), boldly pioneering cutting-edge blockchain platform tech alongside heavy hitters like BP or IBM is second nature. After all, this is the company that developed a novel, environmentally safe, continuous flow, closed loop extraction process (http://nnw.fm/P9uIt) suitable for both major types of oil sands – a first in North America and possibly the entire world. This proprietary technology is the result of a half decade’s worth of intensive R&D, which recently led to a Notice of Allowance from the USPTO and its Canadian equivalent for this technology (http://nnw.fm/F9ZeC).
While the patent itself is new, Petroteq has long-used the technology at its heavy oil extraction facility in Maeser, Utah, where the company produced and sold 10,000 barrels of oil in 2015. The technology is at the core of the ongoing expansion of Petroteq’s oil extraction facility which will fully utilize PetroBloq’s blockchain-powered supply chain management capabilities.
“Our goal is to create the first extraction facility in the U.S. in which all industrial processes will be powered by our blockchain-based supply chain management system. We have an expansive vision to leverage technology to make a transformative impact on our industry, and we believe in the power of collaboration … We look forward to working with our colleagues across industries and borders to help create lasting improvements in efficiency while being mindful of our environment,” Petroteq President Dr. Jerry Bailey stated in a press release issued January 10, 2018 (http://nnw.fm/Qggu1).
About Petroteq Energy Inc.
The company is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Petroteq’s proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. Under a joint venture agreement with Recruiter.com and Oilprice.com, the company will publish website-based employment opportunities in the Energy sector. Petroteq is also developing technologies to optimize petrochemical industry workflow processes and will bring a team of professionals to expedite the process. For more information, visit www.PetroteqEnergy.com.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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