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St. Albert, Alberta--(Newsfile Corp. - November 20, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource clients.
Enterprise Group, along with its wholly owned subsidiary, Evolution Power Projects ("EPP"), is pleased to announce the early success of an ongoing flare gas utilization project in North Central Alberta with a new client. Desmond O'Kell, President of Enterprise Group, emphasized the significance of this achievement, noting, "Firstly, it allows us to support a client in leveraging excess natural gas production in areas restricted by minimal infrastructure. Secondly, our advanced turbine technology offers Operators and Midstreamers a novel method to meet stringent flaring and emissions standards effectively." This initiative showcases our commitment to providing environmentally friendly, low-emission mobile power systems, demonstrating their efficacy in delivering cost-effective and advanced solutions for remote power needs. This project adds to our expanding portfolio of clients who prioritize efficient and sustainable energy solutions.
EPP's mobile turbine power generation units, known for their significant fuel tolerance, are now utilizing the client's excess gas production to generate about 1 megawatt of continuous power. This power is now readily available for various on-site applications, including production enhancement, further field development, and other local infrastructure needs.
Enterprise views this flare gas solution as highly beneficial for the industry, especially as regulations on flaring have become much stricter in recent years. EPP is compiling daily operational performance data to be used in marketing and business development efforts, which the company expects will boost demand for its mobile turbine equipment as this project site is currently utilizing approximately 13% of EPP's natural gas power fleet.
Enterprise Group continues to advance its position as the sole provider of low emission site electrification power systems to the Canadian energy industry. Canadian energy producers who are enthusiastic about emission reductions, efficiency, safety and drastically lowering their fuel costs are turning to Enterprise's methods by displacing diesel and utilizing natural gas on their project sites. On the majority of project sites, natural gas produced locally by the client is powering the turbine power generators, thus eliminating third party fuel costs.