Profire Energy

Profire Energy, Inc. is an oilfield technology company, specializing in the design of burner-management systems (BMS) and other combustion-management technologies. They serve the upstream and midstream portions of the oil/gas industry, providing systems that monitor and manage the burners used in the industry's combustion vessels (e.g. tanks, dehydrators, separators, etc.). In 2012, they were recognized as one of the fastest-growing companies in the world by International Business Times,[2] and then recognized in 2013 as one of the fastest-growing companies in North America by Deloitte. They have offices in Lindon, Utah; Edmonton, Alberta; Oklahoma City, Oklahoma; Houston, Texas; Victoria, Texas; and Tioga, Pennsylvania.

Profire Energy, Inc.
Company typePublic
Nasdaq: PFIE
Russell 2000 Index component
IndustryOil and Gas industry
FoundersBrenton Hatch, Harold Albert
HeadquartersLindon, Utah
Area served
Worldwide
Key people
Brenton W. Hatch (CEO)
Harold E. Albert (COO)
Ryan Oviatt (CFO)
Revenue US$ 51.2M (2015)[1]
US$ 5.7M (2015)[1]
Total assets US$ 46.9M (2015)[1]
Total equity US$ 44.5M (2015)[1]
Number of employees
111 (2015)
Websiteprofireenergy.com

History

Profire Energy was established in Alberta, Canada[3] in March 2002 as a private company ("Profire Combustion"). Brenton W. Hatch (now CEO), Harold E. Albert (now COO) co-founded the company to service oil/gas producers, but soon created a control panel for the management of burners, a system called the Profire 1100. After a few years of continued development, the company made the decision to go public (in 2008) under the name Profire Energy, Inc. (OTCBB: PFIE). They have since developed additional (and more advanced) products, opened multiple offices throughout the US, and continued development of their product line for domestic and international use.

Markets

Profire Energy predominately serves the North American upstream and midstream oil/gas industry, but announced a Brazilian distribution channel in early 2012, as well as an Australian distribution channel in early 2014.[4]

References
  1. "Profire Energy, Inc. financials".
  2. "Profire Energy, Inc. Included Among the IBT 1000 Fastest - Bloomberg". www.bloomberg.com. Archived from the original on 2014-05-27.
  3. "D&B Business Directory-Profire Energy". www.dnb.com. Dun & Bradstreet, Inc. Retrieved 10 June 2024.
  4. "Newswire Services".
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