Umbra Applied Technologies Group Debuts ChaseDown With Sales
SHORT HILLS, NJ--(Marketwired - Jul 21, 2014) - Intrepid Energy Corporation, an Umbra Applied Technologies Group company (
ChaseDown leads an industry shift to a more environmentally friendly approach to secondary oil recovery. The designed use of ChaseDown is customized in its application by trained technicians, to treat the unique conditions presented by a well. ChaseDown is dynamic and has multiple formulations that allow it to be flexible to the specific needs of a well.
Chuck Winters, President of Umbra Applied Technologies Group, commented that, "The successful launch of ChaseDown is a credit to our employees and our dedication to a greener oil field. The volume of early sales has our company very excited about the future. We believe ChaseDown will prove to be a far superior alternative to traditional chemical programs, as ChaseDown is blended to be a safe, environmentally friendly product. Our product exceeds industry environmental practices and EPA requirements."
Alex Umbra, Chairman and CEO of Umbra Applied Technologies Group, added that, "ChaseDown is successful in eliminating issues associated with paraffin and other wellbore asphaltene issues. The sales of ChaseDown, at its launch, are a milestone for our company. It shows the shift from a research and development phase to a sales driven posture. ChaseDown is poised to be the industry's most complete environmentally friendly product of paraffin and asphaltene control systems. We believe ChaseDown has the potential to be an industry leader in the Enhanced Oil Recovery (EOR) market. According to Transparency Market Research, the sector will grow to $516.7 billion by 2023, up from $38.1 billion in 2012. The compound annual growth rate for the sector is 26.7%. We are excited about our future."
About Umbra Applied Technologies Group, Inc.
Umbra Applied Technologies Group, Inc. is a diversified, leading edge technology company with an intrepid vision in the fields of alternative energy, conventional energy, medical innovation, environmental remediation, weaponry, and compound recognition technologies which are marketed toward homeland security.
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