ProSep Inc.
TSX : PRP

ProSep Inc.

October 01, 2009 08:05 ET

ProSep Ranked Fastest Growing Technology Company in Canada in the 2009 Deloitte Technology Fast 50™

Company also receives coveted LEARDERSHIP AWARD and second consecutive TECHNOLOGY GREEN 15™ AWARD

MONTREAL, QUEBEC--(Marketwire - Oct. 1, 2009) - ProSep Inc. (TSX:PRP), dedicated to providing process solutions to the oil and gas industry, today announced it ranked first among the 2009 Deloitte Technology Fast 50™, a ranking of the 50 fastest growing technology companies in Canada, based on the percentage of revenue growth over five years. ProSep's increase in revenues of 18,070 percent from 2004 to 2008 resulted in this year's number one ranking. ProSep also received two additional awards, for a total of three out of the four awards categories that make up Canada's pre-eminent technology awards program: the prestigious Leadership Award and Technology Green 15™ Award created in 2007 to showcase 15 Canadian companies that are leading the way to create major breakthroughs in the field of green technology.

For over 12 years, the Deloitte Technology Fast 50™ program has tracked the successful growth of Canadian-grown global leaders. Now Canada's pre-eminent technology award program, the Deloitte Technology Fast 50™ augments the broader Deloitte North American Technology Fast 500 initiative, with winners automatically eligible for this elite ranking.

"Deloitte salutes the outstanding accomplishments of ProSep Inc. whose ability to create a distinct competitive advantage in a high-growth market will likely result in it joining the ranks of other Canadian companies that have grown into global leaders." Said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "Amid the challenges of a global recession, Canadian technology companies have demonstrated some very impressive growth numbers over the past year. We believe that their determination, drive and skill will serve to position them for further growth and success as the economic recovery takes hold."

ProSep Inc.'s President and CEO Jacques L. Drouin, credits the Company's dedicated employees, commitment to innovation and ability to offer solutions that efficiently address the Oil and Gas industry's growing production challenges. Drouin said, "ProSep is proud to receive this important award as it recognizes our employees' dedication and hard work. By working closely with clients, we have provided solutions that are installed around the world and deliver both economical and environmental benefits."

About the Deloitte Technology Fast 50™ Program - The Deloitte Technology Fast 50™ program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features four distinct categories including the Technology Fast 50™ Ranking, Companies-to-Watch Awards (early-stage Canadian tech companies in business less than five years, with the potential to be a future Deloitte Technology Fast 50™ candidate,) Leadership Awards (companies that demonstrate technological leadership in four industry subcategories: hardware/semiconductor, software, telecommunications and emerging technologies) and the Deloitte Technology Green 15™ Awards (Canada's leading GreenTech companies that promote a more efficient use and re-use of the earth's resources in industrial production and consumption.) Program sponsors include Deloitte, Gowlings, GrowthWorks, RBC, Wellington Financial, Stonewood Group, HKMB Hub, CATAAlliance, CleanTech Group, IGLOO, ITAC, MaRS and Microsoft. For further information, visit www.fast50.ca.

About the awards received:

Deloitte Technology Fast 50™ Ranking - To qualify for the Deloitte Technology Fast 50™ ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluate and judge companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.

Deloitte Technology Fast 50™ Leadership Award - To qualify for the Leadership Award, candidates must be headquartered in Canada and devote a significant portion of their operating revenues to creating proprietary technology or intellectual property. Deloitte Technology Fast 50™ Leadership Award candidates are judged on their ability to create a distinct competitive advantage in a high growth market. Awards are presented to Deloitte Technology Fast 50™-ranked companies that demonstrate technological leadership in four industry subcategories: emerging technologies, hardware/semiconductor, software, and telecommunications.

Deloitte Technology Green 15™ Award - The Technology Green 15™ recognizes Canada's leading GreenTech companies. GreenTech, the industry term for "green technologies", is taking on greater importance in the world in general, and the world of business in particular. It includes any technology that promotes a more efficient use and re-use of the earth's resources in industrial production and consumption. GreenTech products and services are designed to reduce or eliminate environmental impacts and improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste, or pollution. Although many companies within GreenTech industry sectors are very different, they share a common trait: all use new, innovative technology to create products and services that compete with existing products and services on price and performance while reducing impact on the environment.

About ProSep Inc.

ProSep Inc. is dedicated to providing process solutions to the oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. ProSep's innovative produced water treatment solutions allow oil and gas companies to meet production and regulatory requirements for re-use or discharge. For more information, please visit www.prosepinc.com.

Caution concerning forward-looking statements

This press release may contain forward-looking statements, including statements regarding the business and anticipated financial performance of ProSep Inc. These statements are based, among others, on the Company's current assumptions, expectations, estimates, objectives, plans and intentions regarding projected revenues and expenses, the economic and industry environments in which the Company operates or which could affect its activities, the Company's ability to attract new clients and consumers as well as its operating costs, raw materials and energy supplies which are subject to a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the conditional tense, the words "may", "should", "would", "believe", "plan", "expect", "intend", "anticipate", "estimate", "foresee", "objective" or "continue" or the negative of these terms or variations of them or words and expressions of similar nature. Actual results could differ materially from the conclusion, forecast or projection stated in such forward-looking information. These statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include but are not limited to the Company's ability to develop, manufacture, and successfully commercialize value added equipments and services, the availability of funds and resources to continue its operations and pursue its projects, legislative or regulatory developments, competition, technological change, changes in government and economic policy, inflation and general economic conditions in geographic areas where ProSep Inc. operates. These and other factors should be considered carefully and undue reliance should not be placed on the forward-looking statements.

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