Puradyn Offered Through the DistributionNOW Network
Distribution Agreement Will Supply puraDYN(R) Systems to the Oil and Gas, Downstream & Industrial and Manufacturing Industries
Puradyn Filter Technologies, Inc. (OTCQB: PFTI) (Puradyn) announce today that DistributionNOW (NYSE: DNOW) (DNOW) is the distributor for Puradyn bypass oil filtration products in the oil and gas, downstream & industrial and manufacturing services industries.
DNOW is a leader in providing equipment and solutions to the energy, industrial and manufacturing industries. This announcement follows the recent release of the Puradyn Millennium Technology System (MTS) with patented Polydry® technology for water removal.
Craig Knight, Director of Drilling Accounts for DNOW, said, "Puradyn has a technology that offers companies affordable solutions to keep their remaining rigs operating in top form by safely extending oil drain intervals and reducing overall life cycle costs. This represents a significant cost reduction that can improve positive cash flow. In today's economic environment, customers around the world are looking for a solution to help reduce operating and life cycle costs and Puradyn bypass filtration systems help provide that solution.
"The drive to continually strive to find cost-saving measures has become critical to decision making, strategizing, and problem solving -- for a lot of companies, it's now about survival. With over 25 years of experience in bypass filtration, Puradyn brings a proven combination of value and affordability to our customers."
Knight concluded, "DNOW has always been committed to providing quality, value-added products for our customers in the oil & gas industry and Puradyn's performance record with leading drilling contractors confirms their value."
Puradyn President and Chief Operating Officer, Kevin Kroger, said, "It is an honor to be associated with a reputable energy and industrial supplier such as DNOW. Their dedication to providing first class service and on-time delivery will ensure that contractors in the oil and gas industry using our bypass filtration systems will receive the best support, and we expect our joint customers will benefit from easy access to the technologies and service offered through DNOW.
"Their commitment to deliver superior customer service and value-added products such as ours brings together a perfect partnership between Puradyn and DNOW's highly successful sales force. Puradyn offers DNOW customers a way to protect substantial investment in operating equipment and DNOW has detailed knowledge of the oil & gas, downstream & industrial and manufacturing services industries. We are excited to have DNOW as a partner and distributor of our products."
About Puradyn Filter Technologies (www.puradyn.com) Puradyn designs, manufactures and markets puraDYN® Oil Filtration Systems, the most effective bypass oil filtration products available for internal combustion engines, transmissions and hydraulic applications. Puradyn systems continuously clean lubricating oil and replenish base additives to maintain oil viscosity to safely and significantly extend oil change intervals and engine life. Puradyn's patented, environmentally-conscious solutions deliver rapid return on investment by reducing oil consumption, maintenance and overhaul costs and engine downtime, while also protecting high-value engine assets. Puradyn filtration systems have been deployed on thousands of engines around the world, with principal applications in oil and gas drilling, pipeline compressors, generators, frac pump units, marine engines, mining and construction vehicles, semi-trucks and buses and hydraulic systems.
Safe Harbor for Forward-Looking Statements: Statements in this press release, which are not historical data, are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, including but not limited to our history of losses and uncertainty that we will be able to continue as a going concern, our ability to generate net sales in an amount to pay our operating expenses, our need for additional financing and uncertainties related to our ability to obtain these funds, our reliance on sales to a limited number of customers, our dependence on a limited number of distributors, our ability to compete, our ability to protect our intellectual property, and the application of penny stock rules to the trading in our stock, among others which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These risk factors include but are not limited to those detailed in the company's periodic filings with the SEC. Puradyn disclaims any responsibility to update any of the forward looking statements contained in this release.