Spectaire Announces Strategic Distribution Partnership with a Fortune 1000 Energy Company
17 Abril 2024 - 8:00AM
Spectaire Holdings Inc. (NASDAQ: SPEC) (“Spectaire” or the
“Company”), a pioneer in environmental measurement technology,
signed a distribution partnership agreement with a Fortune 1000
Energy Company (the “Strategic Partner”). The Strategic Partner has
been granted global distribution rights for the Company’s AireCore
units for the oil and gas industry.
AireCore, a patented technology developed at MIT, provides a
solution for oil and gas companies to quickly understand the
effects of their efforts to lower emissions and enables real-time
visualization of the outcomes from environmental initiatives. By
measuring and quantifying emissions during drilling operations,
AireCore helps oil and gas companies identify pollutants, assess
emission reduction technologies, and optimize processes to minimize
environmental impact.
Brian Semkiw, CEO of Spectaire, stated, "This collaboration with
our Strategic Partner is a transformative step for Spectaire and
the oil and gas industry at large. By integrating our
state-of-the-art AireCore technology with the global reach and
expertise of our partner, we're setting a new standard for
environmental measurement and emissions reduction. Our technology's
capability to precisely monitor and report emissions will be
instrumental in helping the industry achieve its ambitious
environmental goals. We are proud to work alongside a partner that
shares our commitment to sustainability and innovation."
The agreement with the Strategic Partner is expected to
significantly accelerate the adoption of Spectaire's technology
across the global oil and gas industry, a sector that is
increasingly focused on reducing its environmental footprint.
Companies within this sector, such as Shell, Exxon, and BP, have
made substantial commitments to cut emissions and transition
towards more sustainable operations. Spectaire's AireCore units are
ideally positioned to play a crucial role in enabling these
companies to meet their environmental objectives.
The partnership is poised to tap into a growing market, as the
number of global oil and gas wells continues to rise. With over one
million wells currently in production and an increase in volume of
19% from 2022 to 2023, according to Rystad Energy, an independent
energy consulting services and business intelligence provider,
Spectaire’s foray into the oil and gas market represents a
strategic market expansion, demonstrating the adaptability and
relevance of its technology across various sectors.
About Spectaire Holdings Inc.
Spectaire is at the forefront of air quality and emissions
reduction technology. With a relentless focus on innovation and
environmental sustainability, Spectaire is committed to helping
industries monetize their investments in emissions mitigation to
the benefit of their businesses, the economy, and the
environment.
For additional information,
contact:IR@spectaire.com
Dave Gentry, CEORedChip Companies,
Inc.1-800-733-2447SPEC@redchip.com
Forward-Looking Statements
This release contains certain forward-looking statements within
the meaning of the federal securities laws. These forward-looking
statements generally are identified by the words “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“would,” “will continue,” “will likely result” and similar
expressions.
The forward-looking statements are based on the current
expectations of the management of Spectaire and are inherently
subject to uncertainties and changes in circumstances and their
potential effects and speak only as of the date of such statement.
There can be no assurance that future developments will be those
that have been anticipated. Forward-looking statements reflect
material expectations and assumptions, including, without
limitation, expectations, and assumptions. Such expectations and
assumptions are inherently subject to uncertainties and
contingencies regarding future events and, as such, are subject to
change. Forward-looking statements involve a number of risks,
uncertainties or other factors that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, those discussed and
identified in public filings made by Spectaire with the U.S.
Securities and Exchange Commission (the “SEC”) and the following:
Spectaire’s ability to operate as a going concern; Spectaire’s
requirement of significant additional capital; Spectaire’s limited
operating history; Spectaire’s history of losses; Spectaire’s
ability to attract qualified management; Spectaire’s ability to
adapt to rapid and significant technological change and respond to
introductions of new products in order to remain competitive; the
loss of, or nonperformance by, one or more significant customers;
disruptions of Spectaire’s manufacturing operation; changes in
governmental regulations reducing demand for Spectaire’s products
or increasing Spectaire’s expenses; the effects of global health
crises on Spectaire’s business plans, financial condition and
liquidity; changes or disruptions in the securities markets;
legislative, political or economic developments; Spectaire’s
failure to obtain any necessary permits or comply with laws and
regulations and other regulatory requirements; accidents, equipment
breakdowns, labor disputes or other unanticipated difficulties or
interruptions; potential cost overruns or unanticipated expenses in
development programs; potential legal proceedings; and Spectaire’s
failure to obtain or maintain insurance covering all of Spectaire’s
operations.
Should one or more of these risks or uncertainties materialize
or should any of the assumptions made by the management of
Spectaire prove incorrect, actual results may vary in material
respects from those projected in these forward-looking
statements.
All subsequent written and oral forward-looking statements
concerning matters addressed herein and attributable to Spectaire
or any person acting on its behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to
herein. Except to the extent required by applicable law or
regulation, Spectaire undertakes no obligation to update these
forward-looking statements to reflect events or circumstances after
the date hereof to reflect the occurrence of unanticipated
events.
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