ECOTEC to Partner with Archrock on Methane Emissions Management
Ecotec International Holdings, LLC (“ECOTEC”) today announced a strategic minority equity investment by Archrock, Inc. (“Archrock”), Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. In addition to the strategic investment, Archrock will also begin offering ECOTEC’s suite of solutions to its customers in support of their sustainability goals.
Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment in the U.S.
The strategic investment by Archrock accelerates ECOTEC’s expansion into the oil and gas industry. With over thirty years of expertise providing a comprehensive ecosystem of methane solutions in the natural gas, biogas, carbon credit and air quality industries, the oil and gas industry is a key area of growth for ECOTEC. ECOTEC’s combination of cutting-edge instrumentation and software provides accurate and directly measured emissions data, which is auditable by third-party organizations, and directly applicable to helping solve the decarbonization challenges faced by the oil and gas industry.
Tim Novick, President and Chief Executive Officer of ECOTEC, said, “We are thrilled to partner with Archrock as an increasing number of oil and gas companies commit to thoughtful ESG strategies to measure and reduce their methane emissions. In particular, methane leak mitigation will be critical in solidifying the important role natural gas will play in energy transition. With over 67 years of operating history, Archrock’s deep industry understanding and long-standing customer relationships will be fundamental to accelerating ECOTEC’s growth in oil and gas and creating value for ECOTEC and its stakeholders.”
“We are excited to partner with ECOTEC and advance our shared vision for helping the oil and gas industry decarbonize,” said Brad Childers, Archrock’s President and Chief Executive Officer. “The expansion of our services to include direct emissions detection, management and mitigation is a significant step in our strategy to develop a suite of solutions that supports our customers’ sustainability goals. ECOTEC’s management team has an impressive track record of building emissions management businesses in other sectors and this partnership connects their proven technology with our leading U.S. natural gas compression infrastructure and customer network. This investment provides a unique opportunity to deliver value for our customers and shareholders as we position Archrock to reduce emissions across the oil and gas industry.”
Intrepid Partners, LLC served as financial advisor to ECOTEC.
ECOTEC specializes in the design and development of specialty equipment and software solutions for the natural gas, biogas, renewable natural gas, carbon credit and oil and gas markets through its ECOTEC, AQMesh, Gas Data, and GAZOMAT brands. With offices around the globe, ECOTEC's comprehensive solutions have been deployed around the world to help companies, organizations and municipalities identify, quantify, and remediate their environmental footprint, particularly through reductions in methane emissions.
Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression. Archrock is the leading provider of natural gas compression services to customers in the oil and natural gas industry throughout the U.S. and a leading supplier of aftermarket services to customers that own compression equipment in the U.S. Archrock is headquartered in Houston, Texas. For more information, please visit www.archrock.com.