Profire Energy

Last updated
Profire Energy
Company type Subsidiary of
Nasdaq:  PFIE (formerly)
Industry Oil and Gas industry
FoundersBrenton Hatch
Harold Albert
Headquarters Lindon, Utah
Area served
 Worldwide
Key people
Cameron Tidball ( Vice President, & General Manager
Ryan Oviatt (Vice President of Strategy & Integration)
RevenueIncrease2.svg US$ 58.21M (2023) [1]
Increase2.svg US$ 10.78M (2023) [1]
Total assets Increase2.svg US$ 66.29M (2023) [1]
Total equity Increase2.svg US$ 56.84M (2023) [1]
Owner
Number of employees
> 150 (2024)
Website profireenergy.com

Profire Energy is an oilfield technology company, specializing in the design of burner-management systems (BMS) and other combustion-management technologies.

Contents

It serves the upstream and midstream portions of the oil/gas industry, providing systems that monitor and manage the burners used in the industry's combustion vessels (e.g. tanks, dehydrators, separators, etc.).

Profire Energy has offices in Lindon, Utah; Victoria, Texas; Midland-Odessa, Texas; Homer, Pennsylvania; Greeley, Colorado; Millersburg, Ohio; and Acheson, Alberta, Canada. [2]

History

Profire Energy was established in Alberta, Canada [3] in March 2002 as a private company (Profire Combustion). [4] Brenton W. Hatch and Harold E. Albert co-founded the company to service oil/gas producers, but soon created a control panel for the management of burners, a system called the Profire 1100.

After a few years of continued development, the company made the decision to go public (in 2008) under the name Profire Energy, Inc. (OTCBB: PFIE). They have since developed additional (and more advanced) products, opened multiple offices throughout the US, and continued development of their product line for domestic and international use.[ citation needed ]

In 2025, CECO Environmental completed the purchase of Profire for approximately $122.7 million. [5]

Markets

Profire Energy predominately serves the North American upstream and midstream oil/gas industry, but announced a Brazilian distribution channel in early 2012, as well as an Australian distribution channel in early 2014. [6]

References

  1. 1 2 3 4 "Profire Energy, Inc. financials".
  2. ↑ "Profire Energy Reports Financial Results for First Quarter 2024". Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com. Retrieved 2024-08-21.
  3. ↑ "D&B Business Directory-Profire Energy". www.dnb.com. Dun & Bradstreet, Inc. Retrieved 10 June 2024.
  4. ↑ "D&B Business Directory-Profire Energy". www.dnb.com. Dun & Bradstreet, Inc. Retrieved 10 June 2024.
  5. ↑ "CECO Environmental Corp. Completes Acquisition of Profire Energy, Inc". Nasdaq. Retrieved 2025-01-24.
  6. ↑ "Newswire Services".
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