NEW YORK, Feb. 08, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – NetworkNewsWire ("NNW"), a multifaceted financial news and publishing company, today announces the publication of an editorial featuring Petroteq (TSX.V:PQE) (OTCQX:PQEFF), a client of NNW engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies.
To view the full publication, titled “Blockchain’s Developing Role in American Infrastructure,” visit: LINK
Petroteq Energy, Inc. (OTCQX:PQEFF) (TSX.V:PQE) (FRANKFURT:MW4A) is gearing up to demonstrate blockchain’s advantages through the company’s Petrobloq supply chain management platform.
As a recently approved government contractor for the State of Utah, Petroteq will participate in the planning, design and procurement of the state’s local and government infrastructure projects, where distributed ledger technology could minimize the risks of replacing old infrastructure. With a price tag of up to $3.6 trillion, updating America’s crumbling infrastructure will be a costly feat, and one worth protecting.
“Given the timing of President Trump’s State of the Union address, which emphasized infrastructure spending, specifically on roads and bridges, we feel this is a fortuitous timing for us to be able to participate in this anticipated growth opportunity,” Petroteq CEO Alex Blyumkin stated in the press release (http://nnw.fm/LaHi8). “Historically, Utah's economic performance has been among the strongest in the nation with the construction sector having posted the highest job growth in 2016 at 6.8%, fueled by both robust residential and commercial activity. Becoming a contractor for the State of Utah is a significant milestone for our Company, and we expect that the project initiatives will generate significant benefits to our shareholders.”
About Petroteq Energy Inc.
The company is engaged in the development and implementation of its proprietary environmentally friendly heavy oil processing and extraction technologies. Petroteq’s proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. Under a joint venture agreement with Recruiter.com and Oilprice.com, the company will publish website-based employment opportunities in the Energy sector. Petroteq is also developing technologies to optimize petrochemical industry workflow processes and will bring a team of professionals to expedite the process. For more information, visit www.PetroteqEnergy.com.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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