Archrock to Partner with ECOTEC on Methane Emissions Management
25 April 2022 - 01:00PM
Archrock, Inc. (NYSE:AROC) (“Archrock”) today announced that
it has agreed to acquire for cash a minority equity stake in Ecotec
International Holdings, LLC (“ECOTEC”), a global leader in methane
emissions monitoring and management. In addition to the strategic
investment, Archrock will also begin offering ECOTEC’s suite of
solutions to its customers in support of their sustainability
goals.
ECOTEC provides a comprehensive ecosystem of
methane solutions for its customers, helping them identify,
quantify and manage their emissions. The combination of
cutting-edge instrumentation and software provides accurate and
directly measured emissions data, which is auditable by third-party
organizations. ECOTEC has more than thirty years of expertise in
the natural gas, biogas, carbon credits and air quality industries
and Archrock’s investment is expected to be used to accelerate
ECOTEC’s recent expansion into the oil and gas industry.
“We are excited to partner with ECOTEC and
advance our shared vision for helping the oil and gas industry
decarbonize,” said Brad Childers, Archrock’s President and Chief
Executive Officer. “The expansion of our services to include direct
emissions detection, management and mitigation is a significant
step in our strategy to develop a suite of solutions that supports
our customers’ sustainability goals. ECOTEC’s management team has
an impressive track record of building emissions management
businesses in other sectors and this partnership connects their
proven technology with our leading U.S. natural gas compression
infrastructure and customer network. This investment provides a
unique opportunity to deliver value for our customers and
shareholders as we position Archrock to reduce emissions across the
oil and gas industry.”
Tim Novick, President and Chief Executive
Officer of ECOTEC, said, “We are thrilled to partner with Archrock
as an increasing number of oil and gas companies commit to
thoughtful ESG strategies to measure and reduce their methane
emissions. In particular, methane leak mitigation will be critical
in solidifying the important role natural gas will play in energy
transition. With over 67 years of operating history, Archrock’s
deep industry understanding and long-standing customer
relationships will be fundamental to accelerating ECOTEC’s growth
in oil and gas and creating value for ECOTEC and its
stakeholders.”
Intrepid Partners, LLC served as financial
advisor to ECOTEC.
About Archrock
Archrock is an energy infrastructure
company with a pure-play focus on midstream natural gas
compression. Archrock is the leading provider of natural gas
compression services to customers in the oil and natural gas
industry throughout the U.S. and a leading supplier of
aftermarket services to customers that own compression equipment in
the U.S. Archrock is headquartered in Houston,
Texas. For more information, please
visit www.archrock.com.
About ECOTEC
ECOTEC specializes in the design and development
of specialty equipment and software solutions for the natural gas,
biogas, renewable natural gas, carbon credit and oil and gas
markets through its ECOTEC, AQMESH, GAS DATA, and GAZOMAT brands.
With offices around the globe, ECOTEC's comprehensive solutions
have been deployed around the world to help companies,
organizations and municipalities identify, quantify, and remediate
their environmental footprint, particularly through reductions in
methane emissions. Learn more at www.ecotecco.com.
For information, contact:
Megan RepineVice President, Investor
Relations(281) 836-8360investor.relations@archrock.com
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