Next Fuel Inc (OTCMKTS:NXFI) is moving up steadily off its $0.50 base on light volume. The stock does have a long history of big moves running from well under $0.50 to recent highs near $1.75.
In March the Company said Mr. Jeff Harris has joined the Company as President and Chief Technology Officer (CTO). Mr. Harris is a registered professional engineer in California who invented Next Fuel’s patented INTEGRA Disc Filtration System. His 35-year professional career spans multiple aspects of the energy and industrial water treatment industries.
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.
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.
To Find out the inside Scoop on NXFI Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
“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 said on January 20 that it has initiated discussions with operators in the Williston Basin of North Dakota and Montana, and the DJ Basin of Colorado for water treatment opportunities utilizing the Company’s patented Integra Disc Filtration System. The system application is for treatment of oil field produced and Frac flowback water. The Integra is geared for removing suspended solids in high volume applications offering minimum maintenance and down time verses typical sock or bag filter configurations.
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.
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.
We have a Monster Pick Coming. Subscribe Right Now!
Currently trading at a $8.5 million market valuation NXFI has little assets or debt and no revenues to date. But this is an exciting story developing in small caps that is making all the right moves here. We will be updating on NXFI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NXFI.
Sign Up now for our 100% FREE Penny Stock Newsletter
Disclosure: we hold no position in NXFI either long or short and we have not been compensated for this article.