Next Fuel Inc (OTCMKTS:NXFI) has seen a spectacular rise in recent months from well under $0.50 to recent highs near $1.75. NXFI is a stock with a history of big moves and is currently running up since hitting lows of $0.29 towards the end of last year.
Back in 2011 NXFI purchased technology and intellectual property much of which they sold but much of which they still own. They own a Low Energy Input Pervaporation (LPV) Technology to clean up water used in oil and natural gas production, including frac drilling. This technology is still in development stage, but has shown promise as a commercial venture in the near future.
Next Fuel Inc (OTCMKTS:NXFI) is focused on providing water treatment technologies that offer solutions for low cost, high volume commercial remediation to the oil and gas industry as well as other industrial water users in agriculture and food processing.
During 2014 NXFI plans to complete development and commercial launch of their LPV technology. The Company is working with the University of Wyoming and says Bench scale tests have been completed in the lab and testing of a larger scale prototype began recently. Unfortunately so far there have been significant delays in engineering.
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On September 11 NXFI announced the purchase of Integra Disk Filtration Units and Technology from Layne Christensen Company LAYN. This high-volume mobile filtration system is designed to remove suspended solids ranging from 200 microns down to less than 5 microns from water. Although initial focus may target produced waters of the oil and gas industry, similar filtration is essential in many industries including, but not limited to agricultural, food, computer chip and plastic extrusion. The purchase includes multiple granted and pending patents for the filtration system.
“This field-proven filtration system furthers our efforts to bring revenues to the Company as well as add to our stable of water treatment technologies”, stated Robert Craig, Chairman and CEO of Next Fuel, Inc. “The acquisition continues our stated goal of developing and offering an integrated portfolio of technologies and services for the oil and gas industry.” concluded Mr. Craig.
Robert Craig, Chairman and CEO of Next Fuel, Inc said “We believe our Integra system will demonstrate its superior operating and cost saving attributes in the huge market offered by the oil and gas industry, and a successful large-scale pilot will jump start our efforts to break in to this market, This positive pilot should open the door to many other operators in this and many other basin around the country ultimately driving company revenue,”
NXFI is moving up on accelerating volume. The stock took a huge dip last week of the $0.90 level before coming back strong and eclipsing previous highs. The stock has made a huge run since its low of $0.29 earlier this year as the Company secures $1 million in funding, acquires a new filtration unit and plans to take their LPV technology to market if they can.
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Currently trading at a $20 million market valuation NXFI is making all the right moves here and shareholders have to be happy as NXFI surpasses previous highs and continues on upwards.
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Disclosure: we hold no position in NXFI either long or short and we have not been compensated for this article.