Enterprise Group Subsidiary Awarded Heating Project for the Construction of Oil Sands Pipeline
St. Albert, Alberta--(Newsfile Corp. - January 4, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the "Company" or "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), announces that its subsidiary, Artic Therm International Ltd., ("Artic Therm") has secured a project to contribute to the construction of a replacement pipeline for one of Canada's largest oil sands producers.
Artic Therm's portable truck heating units, self-contained and versatile, boast the impressive ability to generate up to 3.3 million BTU of flameless heat and facilitate a clean, breathable air flow of up to 15,000 cubic feet per minute (CFM). The focus of this project lies on the utilization of ATI 2500 units, which will precisely heat segments of insulated pipeline, working towards achieving specific pipe temperatures necessary for the thermal expansion of the steel conduit. Notably, these ATI 2500s will also play a crucial role in ground heating during the installation process.
The endeavor encounters a unique challenge due to the harsh winter conditions prevalent in the remote Canadian landscape. Despite the difficulties posed by extreme cold, the project is slated to unfold over several weeks during the intense winter season.
This development marks a significant stride for Artic Therm and its parent company, Enterprise Group, as they collaborate on a project that not only underscores their technological capabilities but also showcases their commitment to contributing solutions in the energy sector.
Artic Therm's fleet and its seasoned crews have been heating, drying, and thermally expanding steel pipelines since 1999. To learn more about Artic Therm's specialized equipment and capabilities, please visit: www.artictherm.com
About Enterprise Group, Inc.
Enterprise Group, Inc is a consolidator of services-including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedar.com.
For questions or additional information, please contact:
Leonard Jaroszuk: President & CEO, or
Desmond O'Kell: Senior Vice-President
contact@enterprisegrp.ca
780-418-4400
Forward-Looking Information
This news release may contain certain forward-looking information, as defined under applicable Canadian securities legislation, that is not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this news release includes forward-looking information relating to the Company's intention to purchase Shares pursuant to the normal course issuer bid, the number of Shares to be purchased, the timing of such purchases and the impact of such purchases on the value of the remaining Shares. Actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. There is no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in the Company's Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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