Profire Energy, Inc. (Profire) operates as a technology company providing solutions that enhance the efficiency, safety, and reliability of industrial combustion appliances while mitigating potential environmental impacts related to the operation of these devices.
The company’s legacy business is primarily focused in the upstream, midstream, and downstream transmission segments of the oil and gas industry. However, in recent years, the company has completed many installations of its burner-mana...
Profire Energy, Inc. (Profire) operates as a technology company providing solutions that enhance the efficiency, safety, and reliability of industrial combustion appliances while mitigating potential environmental impacts related to the operation of these devices.
The company’s legacy business is primarily focused in the upstream, midstream, and downstream transmission segments of the oil and gas industry. However, in recent years, the company has completed many installations of its burner-management solutions in other industries for which the company’s solutions will be applicable as the company expands its addressable market over time. The company specializes in the engineering and design of burner and combustion management systems and solutions used on a variety of natural and forced draft applications. The company sells its products and services primarily throughout North America. The company’s experienced team of sales and service professionals are strategically positioned across the United States and Canada, providing support and service for the company’s products.
The company has four wholly-owned subsidiaries: Profire Combustion, Inc., an Alberta, Canada corporation; Prochem, ULC, an Alberta, Canada unlimited liability corporation; Profire Holdings, LLC, a Utah limited liability company; and Midflow Services, an Ohio limited liability company.
The company’s principal customers are oil and natural gas exploration and production companies that operate in the upstream and midstream space and the original equipment manufacturers, or OEMs, that supply the exploration and production companies with the required production and processing equipment.
Principal Products and Services
Across the energy industry, there are numerous demands for heat generation and control. Applications such as combustors, enclosed flares, gas production units, treaters, glycol and amine reboilers, indirect line-heaters, heated tanks, and process heaters require heat to support the production and or processing function. This heat is generated through the process of combustion, which must be controlled, managed, and supervised. Combustion and the resulting generation of heat are integral to the process of separating, treating, storing, incinerating, and transporting oil and gas. Factors such as specific gravity, the presence of hydrates, temperature and hydrogen sulfide content contribute to the need for heat generation in oil and gas production and processing applications. The company’s burner-management systems ignite, monitor, and manage pilot and burner systems that are utilized in this process. The company’s technology affords remote operation, reducing the need for employee interaction with the appliance's burner for purposes such as re-ignition or temperature monitoring. In addition, the company’s burner-management systems can help reduce emissions by safely reigniting a failed flame, thereby improving efficiencies and up-time. The company’s extensive service and combustion experience provides customers with solutions that are consistent with industry trends and regulatory requirements to mitigate environmental impacts and reduce emissions through optimized burner operation.
Oil and gas companies, including upstream, midstream, downstream, pipeline, and gathering operators, utilize burner-management systems to achieve increased safety, greater operational efficiencies, and improved compliance with industry regulations. Without a burner-management system, a field employee must discover and reignite an extinguished burner flame, then restart the application manually. Without a proper burner-management system, all application monitoring must be accomplished in-person, directly on-site. This requirement for on-site monitoring, in an operational environment with limited field personnel, can result in the potential interruption of production for long periods of time and increased risks associated with reigniting a flame, which can lead to site hazards, including explosions and the possibility of venting gas into the atmosphere. In addition, without a burner-management system, burners often operate for longer durations, frequently with lower efficiency, resulting in increased equipment fatigue and greater expense related to fuel consumption.
The company continues to assess regulatory requirements applicable to the company’s customers. The company’s burner-management systems and services offer solutions for customers to meet compliance standards where applicable. In addition to product sales, the company dispatches specialized service technicians to provide maintenance and installation support throughout the United States and Canada.
The company initially developed its first burner-management controller in 2005. Since that time, the company’s systems have become widely adopted throughout the United States and Western Canada. Profire burner-management systems have been designed to comply with widely accepted safety and industrial codes and standards in North America, including those prescribed and certified by the Canadian Standards Association (CSA), Underwriters Laboratories (UL), and Safety Integrity Level (SIL) standards.
The company’s systems and solutions have been widely adopted by exploration and production companies (E&P), midstream operators, pipeline operators, as well as downstream transmission and utility providers. The company’s customers include, Antero, ATCO, Chesapeake, Chevron, CNRL, ConocoPhillips, Devon Energy, Dominion Energy, EQT, Kinder Morgan, National Grid, Ovintiv, Oxy, Range Resources, Williams, XTO, and others. The company’s systems have also been sold and installed in other parts of the world, including many countries in South America, Europe, Africa, the Middle East, and Asia. Though firmly established and primarily focused on North American oil and gas markets, the company continues to invest in expansion efforts in developing sales in diversified industries where the company’s combustion technology can be utilized.
Principal Markets and Distribution Methods
The company’s principal market is the oil and gas industry of the United States and Western Canada, specifically, the Permian, Marcellus, Niobrara, Bakken, STACK, SCOOP and Eagle Ford U.S. basins, as well as the Duvernay and Montney and other formations located in Canada. The company places a strong emphasis on developing and fostering direct relationships with end users on many fronts, including environmental, health and safety, automation, engineering, and field operations leaders and team members.
Due to the nature of the company’s legacy business, the company collaborates with and sells to many original equipment manufacturers (OEMs) who build production, processing, and heating equipment, as well as other strategic partners that deliver Instrumentation and Electrical (I&E) services in the industry. These channels provide the company with a relatively easy-to-scale augmentation to its sales and service teams.
Leveraging the company’s core technology, platforms and combustion expertise, the company has started to achieve success and complete projects in new diversified markets. Through direct sales, new OEM and strategic re-sell relationships, the company has found opportunities to diversify its market footprint and expand into industries that reside outside of the company’s traditional oil and gas segments. Some industries of focus include biogas, biomass, power generation, agriculture, heat treat and metal manufacturing, mining, hydrogen production and petrochemical.
Competition
Profire has several competitors including Clear Rush (ACL), Combustex, SureFire, and Platinum.
Through the company’s development of products with enhanced capabilities, the company has begun to compete with companies, such as Honeywell Thermal, Emerson, Fireye, and Siemens in connection with larger, more complex combustion applications.
Need for Governmental Approval of the company’s Principal Products or Services
The company is required to obtain certain safety certifications/ratings for its combustion-management systems before they are released to the market. The company has received the appropriate certifications including CSA, Intertek, and UL certifications for the company’s burner-management systems.
The company’s burner-management systems help companies comply with the following regulations and other clean air and emissions reduction initiatives and requirements.
B149.3-10, which has evolved in recent years and is effective for Alberta, Canada, governs the safety precautions that must be met concerning the ignition of the pilot and the main burner in Alberta. It requires a programmable control to be used if the controller complies with certain certification requirements promulgated by the CSA.
Regulation 7 of the Air Quality Control Commission regulations in Colorado requires that combustion devices be equipped with an auto-igniter which will automatically attempt to relight the pilot flame in the combustion chamber of a control device. The auto-igniter requirement is to reduce the risk of volatile organic compound emissions.
R307-503, as passed by the Utah Department of Air Quality, mandates that all open and enclosed flares have an auto-igniter designed to automatically attempt to relight the pilot flame of a flare in order to combust volatile organic compound emissions.
Order 25417, in North Dakota, requires producers to condition crude oil before transportation and prove oil temperature is above 110 degrees Fahrenheit, to burn off toxic gases from the oil.
On behalf of the company’s customers, the company monitors regulatory requirements that impact their businesses and industries. The company is monitoring the impact of the Methane Waste Prevention Act of 2021, the Clean Energy and Sustainability Accelerator Act, EPA New Source Performance Standards as part of 40 CFR Subpart OOOO and OOOOa, and others.
Research and Development
During the year ended December 31, 2023, the company spent $917,123 on research and development programs.
History
Profire Energy, Inc. was founded in 2002. The company was incorporated in 2002.
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