SOURCE: Energy & Technology Corp.

Energy & Technology Corp.

December 08, 2015 09:30 ET

Energy & Technology Corp. (Technical Industries, Inc.) Versus National Oilwell (Tuboscope) to Protect Its Wall Mapping Patents

LAFAYETTE, LA--(Marketwired - Dec 8, 2015) - Technical Industries, Inc., a subsidiary of Energy & Technology Corp. (OTC PINK: ENGT), a fully reporting company, announced today the Company had filed a patent infringement lawsuit on November 24, 2015 in the United States District Court, Western District of Louisiana against National Oilwell Varco, Inc., et al. (No. 6:15-CV-02744).

The suit alleges National Oilwell Varco, Inc., et al, has infringed upon Technical Industries, Inc. various patents for methods of inspection of metal tubular goods. The suit alleges infringement on United States Patent No. 7,263,887; 7,401,518; 7,552,640; and 7,997,138.

George M. Sfeir, President and CEO of Energy & Technology, remarked, "Technical Industries is committed to protecting its intellectual property and investments in wall mapping technology and will pursue all infringements."

Technical Industries, Inc. has spent years developing technology for the drilling of critical wells and other critical applications, which in turn allows the Oil Industry to reach deep reserves safer and more efficient.

Energy & Technology Corp. has production facilities in Texas and Louisiana. Energy & Technology Corp. provides non-destructive testing (NDT) services, OCTG and oilfield pipe sales, service and storage, and rig and equipment sales. The Company currently serves customers world wide. The Company's customer base of over 130 accounts, consists of major oil companies, steel mills, material suppliers, drilling companies, tool rental companies, and natural gas storage operators. Due to its technology, the Company maintains advantages in offshore deepwater and other onshore critical projects.

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Forward Looking Statement:
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.