FLOTEK JP3 ANALYZER RECEIVES EPA APPROVAL FOR OIL AND GAS COMBUSTION MONITORING REGULATIONS

HOUSTON, July 16, 2024 /PRNewswire/ — JP3 Measurement, a wholly owned subsidiary of Flotek Industries (NYSE: FTK), a leader in innovative analytical solutions, today announced that the Environmental Protection Agency (EPA) has recognized the JP3 system as an approved measurement technology for the recently introduced flare regulations. Designed to precisely measure net heating values ​​(NHV) in flared gases, this state-of-the-art optical instrument is the first to be approved as an alternative method under the new NSPS OOOOb regulations, supporting cleaner, more efficient operations throughout the oil and gas industry.

JP3 technology uses advanced near-infrared (NIR) spectroscopy to provide accurate, autonomous, and continuous measurements of flare emissions in real time. Its robust design is specifically designed for the challenging field conditions typical of the midstream and upstream sectors, simplifying complex compliance hurdles. More than 55,000 existing flares in United States It is expected to be subject to some level of regulatory monitoring by 2028, giving JP3 the opportunity to significantly expand its presence in this new mining market.

Dr. Ryan Ezell, CEO, expressed his enthusiasm for the future applications of Data Analytics: “EPA approval of the JP3 flare measurement system is not just a validation of our technology – it is a catalyst for significant growth. We are poised to deliver significant value and tangible ESG benefits to our customers, particularly in upstream applications. This approval is an important milestone that increases our expectations for continued subscription-based revenue growth in our Data Analytics segment.”

Thomas Redlinger, Vice President of Data Analytics, also commented on the impact: “We expect the JP3 analyzer to change the industry’s approach to monitoring exhaust emissions, as it has done for other applications in the oil and gas industry. By integrating real-time data analysis with rigorous environmental measurements, we provide our customers with tools that exceed regulatory requirements without the operational risks associated with legacy analytical equipment. Several operators have already selected the JP3 analyzer to help them meet new regulatory requirements.”

As regulatory requirements evolve, JP3 Measurement continues to lead with cutting-edge solutions designed to solve current and future challenges. For more information about JP3’s offerings, visit www.flotekind.com.

About Flotek Industries, Inc.

Flotek Industries, Inc. is a technologically advanced, green chemical and data analytics company that offers unique and innovative end-use solutions that are proven to have a positive impact on sustainability and reduce the overall impact of energy on the environment, air, land, water and people. Flotek has an intellectual property portfolio of over 170 patents and a global presence in over 15 countries worldwide. North America, Latin Americathis Near East AND North AfricaFlotek has established partnerships focused on sustainable and optimized chemistry and data solutions that improve well performance and enable customers to generate higher returns on invested capital.

Flotek is headquartered in Houston, Texas and its common shares are traded on the New York Stock Exchange under the symbol “FTK”. For additional information, visit www.flotekind.com.

Forward-looking statements:

Certain statements contained in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) concerning the business, financial condition, results of operations and prospects of Flotek Industries, Inc. Words such as “will,” “shall,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release represent the good faith judgment of management, such statements can be based only on facts and factors currently known to management. Accordingly, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes could differ materially from those discussed in the forward-looking statements. Further information about risks and uncertainties that could affect the Company is included in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, the section entitled “Risk Factors”) and in the Company’s other SEC filings and public filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may occur after the date of this press release.

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SOURCE Flotek Industries, Inc.