Valve Technology Company Announces Sales to Clean Energy Fuels Corp for Natural Gas Dehydrator Applications
CONROE, Texas, April 22 /PRNewswire-FirstCall/ — Hemiwedge Industries, Inc. (Pink Sheets: HWEG), a global supplier of engineered valves, today announced it has shipped additional HemiwedgeÃ‚® Cartridge valves to the Clean Energy’s Pickens LNG plant in Texas.
The HemiwedgeÃ‚® Cartridge valves have been successfully installed and used in natural gas dehydrators where water vapor is removed from natural gas before its processed into LNG. The Cartridge feature of the valve provides low maintenance costs and the Hemiwedge design provides reliability of sealing in low and high temperatures/pressures.
The Company has enjoyed a relationship with Clean Energy as a customer for more than a year and looks forward to growing with them in the future as they are North America’s leader in clean transportation.
Ken Chickering, CEO of Hemiwedge Industries, stated, “We are pleased to have such a great reference customer in this application and market segment. We view their initiative of expanding the use of domestic natural gas and LNG for transportation fuel in North America as a significant growth market.”
About Hemiwedge Industries, Inc.
Hemiwedge Valve Corporation (“HVC”), a wholly-owned subsidiary of Hemiwedge Industries, operates as a global supplier of engineered valve products. In its 60,000 square foot ISO 9001 and API Q1 approved facility in Conroe, Texas, the Company manufactures and markets worldwide a patented proprietary valve technology known as the HemiwedgeÃ‚® Cartridge valve product line. The HemiwedgeÃ‚® Cartridge valve is a proven innovative design that incorporates a hemispherical wedge to provide a mechanically sealing, tight shutoff valve with a simple quarter-turn operation that provides outstanding longevity and performance in a broad range of applications. Unlike ball valves, the stationary core of the HemiwedgeÃ‚® Cartridge valve directs flow away from the seat surfaces which allows longer service life. The “Cartridge” feature reduces expensive downtime during valve maintenance as all of the internal parts of the valve are attached to the bonnet, as a Cartridge, which allows a quick exchange of all the internals of the valve while the valve body remains in the line. This feature is especially relevant in weld-in line valve bodies and severe service applications. HemiwedgeÃ‚® Cartridge valve has been successfully used by reference customers in applications including refining, mining, process, pipeline, power, mid-stream and petro-chemical markets. The product line currently ranges in bore sizes from one inch to twenty inches, API 6D monogram, and ANSI class 150 through 900. For additional information on the Company and its products, please visit www.hemiwedge.com.
About Clean Energy
Clean Energy Fuels Corp (Nasdaq: CLNE) is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 17,800 vehicles at 196 strategic locations across the United States and Canada. Clean Energy owns and operates two LNG production plants, one in Willis, TX and one in Boron, CA, with combined capacity of 260,000 LNG gallons per day and designed to expand to 340,000 LNG gallons per day as demand increases. It also owns and operates a landfill gas facility in Dallas, TX that produces renewable methane gas, or bio-methane, for delivery in the nation’s gas pipeline network. Clean Energy also owns BAF Technologies, Inc. of Dallas, TX, a leading provider of natural gas vehicle systems and conversions for taxis, limousines, vans, pick-up trucks and shuttle buses. Please visit www.cleanenergyfuels.com.
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, customer concentration risk, difficulties in refinancing or restructuring its debt, difficulties in accelerating internal sales growth, volatility of the energy business and its effects on the Company’s business, difficulties in new technology acceptance within the energy and process industries, restrictive covenants in our existing credit facilities, fluctuations in metals prices, an inability to perform customer contracts at anticipated cost levels, political and economic global supply chain risk, general economic conditions in markets in which we do business, extensive environmental and workplace regulation by federal and state agencies, and other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission. All information provided in this release and in the attachments is as of April 22, 2010 and the Company undertakes no duty to update this information.
SOURCE Hemiwedge Industries, Inc.