SOURCE: PGI Energy

PGI Energy

August 05, 2011 16:42 ET

PGI Energy Enters Into Joint Venture With Carbon Based Solutions and ProOne Xtreme Lubricants

HOUSTON, TX--(Marketwire - Aug 5, 2011) - PGI ENERGY, INC. (PINKSHEETS: PGIE) forms joint venture partnership with Carbon Based Solutions and ProOne Extreme Lubricants, a revolutionary green based, environmentally friendly products manufacturer, for worldwide distribution and sales of its products.

Bio-Stable Downhole Drilling Fluid
ProOne's exclusive XPL+ technology is designed to reduce heat and friction under the most extreme conditions... intense heat, high pressure, mud, water... which is why this drilling slurry additive has been proven to offer extraordinary results in horizontal and vertical drilling operations. And it's biodegradable!

  • Over 70% reduction in friction
  • Increases lubrication of the drill mud
  • Reduces wear to extend drill bit life
  • No need for diesel fuel to be added to well
  • Reduces hazardous products
  • Greater reliability -- less down time
  • Increases production
  • Reduces torque
  • Eliminates up to 94% of electrolysis
  • Lowers operating temperatures

The joint venture brings readily marketable products that are already being sold with a scope to reaching worldwide markets. PGI will utilize its staff and increase sale force to market these products in which the joint venture partners will share profits on a 50/50% net. Customers will be able to order products through PGI Energy as early as next week.

About ProOne
Based in Orange County, California, ProOne, Inc. has developed proprietary lubrication technology which reduces friction better than anything else on the market and has over 50 times the film strength of conventional lubricants. ProOne products are environmentally friendly being mostly vegetable based, non-corrosive, non-reportable, and helping to reduce the consumption of natural resources such as electricity and fossil fuels.

ProOne's XPL+ (Xtreme Pressure Lubrication) technology dramatically reduces heat & friction at points of metal-to-metal contact, helping to reduce wear, extend equipment life, lower energy consumption, prevent costly downtime and lower maintenance costs. While typical lubricants tend to migrate away from heat sources, XPL+ has a strong ionic (+) charge which allows it to bond to metal even under extreme heat and pressure, giving XPL+ lubricants unprecedented film strength and extreme pressure protection. ProOne's line of lubricants includes engine treatments, cutting oils, cutting fluids, motor oils, gear lubes, hydraulic oils, spray lubricants and greases, many of which are biodegradable.

Marketing its proprietary XPL+ (Xtreme Pressure Lubrication) lubrication technology globally, ProOne's primary focus is on the commercial and industrial markets where its environmentally friendly line of products takes lubrication to the next level of performance.

The principals involved with ProOne have decades of experience in the lubrication industry developing and marketing patented state-of-the-art technology. Formed in 2007 to market environmentally friendly lubrication products, ProOne, Inc. is the operating division of ProOne Holdings, Inc.

Visit: www.pro-one.us

About us
PGI Energy, Inc. is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.

PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering, PGI Green E & P and PGI Trading.

For more information visit: www.PGIEnergy.us or Email: ir@pgienergy.us

Contact Information

  • Contact
    Media & Investor Relations Contact:
    832-900-1400
    PGI Energy, Inc.
    Jose I. Colon