Profile Technologies, Inc. Makes Presentation at Public Workshop Organized By US DOT
On July 15 – 16th, 2008, Profile Technologies, Inc. (OTC:PRTK, the “Company”) Chief Operating Officer, Robert Geib, attended the Cased Pipeline Integrity Assessment Workshop organized by the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) as an invited presenter and panelist. The goal of the workshop, as described by PHMSA, is to “develop a list of potential solutions that can address the (cased pipe assessment) issues through usage of new technology, understanding of and/or changes to the regulations, updating of standards, operating practices and/or research”. The two day workshop was held in Chicago, IL and attended by over 160 pipeline industry stakeholders including natural gas and oil pipeline operators and associations, federal and state regulators, and service providers.
In many situations, the integrity assessment of existing buried cased pipelines as required by Federal and State regulations can prove to be a challenge to pipeline owners and operators using existing assessment methods. Geib provided a presentation describing how the EMW-C(TM), the Company’s long range electromagnetic inspection technology, can be used as an immediate solution to the challenge of integrity assessments. In addition to the initial assessment capabilities, the EMW-C(TM) was also presented as a long term monitoring tool allowing for continuous observation for potential corrosion-related conditions on cased pipe sections. The Company is very pleased with the comments received from attendees following the presentation.
Profile Technologies, Inc. is headquartered in Manhasset, NY. It is the developer and owner of a proprietary, patented technology that utilizes electromagnetic waves to detect and characterize corrosion and other anomalies on cased, insulated and other pipelines. Its technology provides long-range, non-invasive and non-destructive inspection. For more information about Profile Technologies, visit the website at www.profiletech.net.
The foregoing operational update contains certain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and the regulations there under. Company statements that are not historical facts, including statements about the Company’s expectations, beliefs and plans are examples of such forward-looking statements and involve various risks and uncertainties including equipment, technology, contract and other risks. For a more complete discussion of the risks that could affect the Company’s business and finances and cause actual results to differ materially from management’s expectations, plans, etc., please reference the Company’s SEC filings.