SFC Energy: Simark Controls receives another follow-up order for fully integrated VFD systems

DGAP-News: SFC Energy AG / Key word(s): Incoming Orders
02.03.2020 / 07:30
The issuer is solely responsible for the content of this announcement.

SFC Energy AG - Press Release

SFC Energy: Simark Controls receives another follow-up order for fully integrated VFD systems

- Alberta Oil Producer places a follow-up order for more of Simark's successful, fully integrated Variable Frequency Drive systems (VFDs).

- Simark's VFD systems help the oil producer to significantly reduce costs with unique installation and operations benefits.

- Order is for 68 ESP systems.

Brunnthal/Munich, Germany, March 2, 2020 - Simark Controls Ltd., a subsidiary of SFC Energy, a leading provider of hybrid fuel cell solutions to the stationary and mobile power generation markets, has received another follow-up order for their fully integrated Variable Frequency Drive systems (VFDs) from an Alberta Oil Producer. The order is for 68 ESP systems.

These VFD systems operate electric submersible pumps (ESPs) used to artificially lift heavy oil from well pads. They significantly reduce installation and operating costs. Additional benefits are improved pump uptimes, optimized pump operation and augmented oil production.

"We are excited to receive another, even larger follow-up order for our Variable Frequency Drive solutions from this oil customer," says Martin Curtis, President, Simark Controls. "With our systems and integration expertise and our clean, innovative product solutions we can perfectly meet the growing demand of oil & gas producers for more operational excellence and environmental friendliness."

"For us this new follow-up is a sign of beginning stabilization in the Canadian oil & gas industry, which has been suffering from challenging logistics and lacking transport infrastructures for almost three years," says Dr. Peter Podesser, CEO of SFC Energy. "Additional pipeline projects may further push demand for our highly efficient automation and power solutions."

Additional information on SFC Energy's fuel cell solutions for Clean Energy & Mobility, Defense & Security, Oil & Gas, and Industry at sfc.com. Additional information on Simark Controls at simarkcontrols.com.
 

About SFC Energy Group
SFC Energy AG is a leading provider of hydrogen and direct methanol fuel cells for stationary and mobile hybrid power solutions. With more than 45,000 fuel cells sold worldwide, SFC Energy is a sustainably profitable fuel cell producer. The Company has award-winning products and serves a range of applications in Clean Energy & Mobility, Defense & Security, Oil & Gas and Industry markets. The Company is headquartered in Brunnthal/Munich, Germany, operates production facilities in the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857, ISIN: DE0007568578).

About Simark Controls Ltd.
Simark Controls Ltd., a company of SFC Energy AG, is a service oriented, value added sales company specializing in custom integrated and manufactured solutions of high-quality instrumentation, automation, energy and power products. Simark provides instrumentation & measurement systems, power components & drives, security & surveillance equipment for the oil & gas industry and mining, forestry & community supply markets. Simark is headquartered in Calgary, Alberta, with sales offices in Edmonton and Grande Prairie, Alberta, Saskatoon, Saskatchewan, Vancouver, British Columbia and Montreal, Quebec.

SFC Press Contact:
Ulrike Bienert-Loy
SFC Energy AG
Eugen-Saenger-Ring 7
D-85649 Brunnthal
Tel. +49 89 673 592-377
Fax. +49 89 673 592-169
Email: [email protected]

IR Contact:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Tel. +49 89 125 09 03-33
Email: [email protected]
Web: crossalliance.de



02.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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