Dotz receives purchase order to expand in-field corrosion inhibitor technology trials
(WO) — Dotz Nano Limited, an advanced technology company developing, manufacturing and commercializing marking, tracing and verification solutions, received its first purchase order from a leading NASDAQ-listed oilfield technology and services provider. With a market capitalization of more than $5 billion, they will expand in-field trials of new technology to monitor corrosion inhibitors in-field.
The NASDAQ-listed company is scheduled to perform at least three field trials in various locations across North America within the next six months. Further purchase orders and a ramp-up of Dotz technology will depend on the results of these trials and end-user acceptance of the technology.
Dotz’s technology provides a solution to detect and quantify corrosion inhibitors (CIs) within oilfield premises, providing on-site dosage management and significant savings on maintenance and corrosion inhibitor overdosing and underdosing costs. It also significantly reduces the time needed to obtain reliable, valuable data in industrial settings.
The Dotz solution was successfully tested at Dotz and the oil & gas service provider’s labs over the past 3.5 years. Demonstrating extreme reliability in a wide range of operating conditions, the recently patented solution will now be trialed at production sites, allowing the solution to be tested within complex and challenging operational settings.
Previously, detection and quantification of corrosion inhibitors in drilling fluids required samples to be shipped to centralized laboratories for analysis that can take weeks, or even months, in a time-consuming, expensive, and highly inefficient manner. Detecting and monitoring CI on-site enables significant savings on shipment and overdosing of CI while reducing the risk and possibly severe consequences of CI underdosing.
While the amount and financial detail for this stage of a field trial remains confidential, Dotz expects the arrangement between the parties to become material for Dotz at the successful completion of these additional trials during 2023.
Dotz Chairman Bernie Brookes AM said, “These trials provide on-site monitoring of corrosion inhibitors within the oil & gas sector. Expanding the trials in such a complex operational environment gives us greater insights into how our technology can be applied within the industry.”