Save The World Air (“STWA”),
d/b/a STWA, a California-based company providing the global energy industry
with patent-protected industrial equipment to improve the performance of crude
oil pipelines, today held its 2014 Year End Earnings Conference Call to inform
investors of key developments over the past year.
Gregg Bigger, the company’s
Chairman and CEO, summarized the most important accomplishments in a very busy
year, including the fact that STWA achieved the first revenues in the company’s
history, as it begins the critical transition from a pure play R&D company
toward commercialization and diversification.
In working with a large midstream
partner, involving 19 vendors and numerous engineers, STWA developed the
company’s Applied Oil Technology (AOT) system for one of the largest pipelines
in the U.S. The AOT system is based upon the science of electrorheology, and
specifically the reduction of oil viscosity, improving core flow by aggregating
particulate matter within the crude oil itself. This project represented an
essential shift and milestone for the company, successfully moving the
technology from a laboratory setting to a commercial environment, resulting in
additional work and initial revenue generation.
2014 also saw the development of
a new technology for the company, called STWA Joule Heat, and STWA is
continuing to work to move this product into commercial application. STWA Joule
Heat is an energy-efficient crude oil heating technology which improves flow
and pipeline performance with less power and in a smaller form factor than
existing trace heating solutions. Mr. Bigger explained that the goal of STWA
Joule Heat is to replace inefficient heating systems from within the upstream
oil and gas market. This contributes to the company’s goal of diversification,
allowing it to work in both the upstream and midstream marketplace. The company
has signed a joint development agreement to install an STWA Joule Heat system
in the upstream market from within the state of Utah.
Mr. Bigger also emphasized that
management will continue to improve STWA’s capital structure, looking at a
variety of options over the next 6 months, and will keep investors informed. He
indicated that, for example, the company wants to be in a position to make
valuable strategic acquisitions.
A webcast replay link will be
available in the “Investors” section of the STWA website at http://IR.STWA.com,
and investors can listen to a replay by calling 877-660-6853 (International
number: +1 201 612 7415) and using passcode 13603968. A transcript of the call
is also available at Seeking Alpha via the following link:
http://dtn.fm/stwa-earnings-call-2014-transcript.
For more information on the
company, visit www.stwa.com
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