MONTREAL, QUEBEC — (Marketwire) — 10/19/11 — ProSep Inc. (TSX: PRP) (“ProSep” or the “Company”), dedicated to providing process solutions to the oil and gas industry, today announced that it ranked for a third consecutive year among the 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 revenue growth of 972 percent from 2006 to 2010 resulted in its ranking in the Deloitte Technology Fast 50.
For over 14 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.
“Canadian technology companies have demonstrated some very impressive growth numbers over the past year, amid the challenges of an uncertain global economic recovery,” said Richard Lee, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. “ProSep is an example of the determination, drive and skill that will serve to position them for further growth and success in the years to come.”
“ProSep is honoured to be a Deloitte Technology Fast 50 winner for a third consecutive year”, said Jacques L. Drouin, President and CEO. “Our solutions are recognized by some of the world–s leading oil and gas companies as step-change technologies, improving production while reducing environmental footprint. We believe our dedication to innovation and process improvements sets us apart from our competition. With the conclusion of our recent financing, we now have a stronger platform to achieve our ambitious goal of becoming our industry–s leading technology-focused process solutions provider.”
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.
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, Wellington Financial, TMX Group, HKMB Hub International, National Angel Capital Organization, CVCA, MaRS and IGLOO Software. For further information, visit .
About ProSep
ProSep is a technology-focused process solutions provider to the upstream oil and gas industry. ProSep designs, develops, manufactures and commercializes technologies to separate oil, water and gas generated by oil and gas production. For more information, please visit .
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.
Contacts:
ProSep Inc.
Investor Relations and Media:
Danielle Ste-Marie
VP Marketing and Communications
(514) 522-5550 ext. 238