Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF), a company focused on the development and implementation of proprietary technologies for the energy industry, this morning announced the opening of its Petrobloq Blockchain Lab. The space has been leased and staffed solely for the development of Petrobloq technologies. The company has made strategic hires over the past months, creating a Petrobloq team to focus on developing robust blockchain capabilities. Now that the team is in a single location, development is accelerating. Additionally, the Petrobloq labs team will concentrate on making the supply chain more efficient in the oil and gas industry. “Technological innovation is a top priority for Petroteq— the company intends to continue to strategically invest in technology to benefit our industry, where success or survival depends heavily on being innovative,” Petroteq CEO Alex Blyumkin stated in the news release.
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About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused on the development and implementation of a new proprietary technology for oil extraction. The Company has an environmentally safe and sustainable technology for the extraction of heavy oils from oil sands, oil shale deposits and shallow oil deposits. Petroteq is engaged in the development and implementation of its patented environmentally friendly heavy oil processing and extraction technologies. Our proprietary process produces zero greenhouse gas, zero waste and requires no high temperatures. Petroteq is currently focused on developing its oil sands resources and expanding production capacity at its Asphalt Ridge heavy oil extraction facility located near Vernal, Utah. The Company also owns a minority stake in an exploration and production play located in southwest Texas held by Accord GR Energy Inc. In addition, the Company, through its wholly owned subsidiary PetroBLOQ, LLC, is seeking to develop the first blockchain based platform created exclusively for the supply chain needs of the oil & gas sector. For more information, visit www.Petroteq.energy and www.PetroBLOQ.com.
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