Broadwind Announces Sale of Four Pressure Reducing Systems

“Virtual Pipeline” solution delivers compressed natural gas through mobile, low emissions solution
Bridge technology reflects strategic focus on supporting clean energy transition

CICERO, Ill., May 06, 2021 (GLOBE NEWSWIRE) -- Broadwind (NASDAQ: BWEN), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced that the Company has sold four Modular Pressure Reducing Systems (PRS). Broadwind has designed and engineered a product family of Modular PRS units to accommodate a broad range of flows and pressures suited to various customer requirements.

PRS modules are a key component utilized in “virtual pipelines”, an alternative method for supplying compressed natural gas to regions without established pipeline infrastructure. The PRS module plays a vital role in ensuring that stranded natural gas production is gathered, compressed, shipped, then decompressed for usage in consumption centers where it can be used as a lower emissions replacement for diesel fuel and coal. In addition to being low maintenance, convenient and flexible, Broadwind’s PRS technology has an exceptionally low environmental impact, when compared to traditional pipeline infrastructure, which requires extended construction periods and significant acreage to complete.

STRATEGIC RATIONALE

• Critical “bridge” technology that accelerates the pathway toward a zero-carbon future. Broadwind is committed to investing in clean technologies that drive the global energy transition. PRS technology supports increased consumption of natural gas in place of other energy sources that produce comparably higher greenhouse gas emissions.
  
  
• Leverages existing precision manufacturing expertise.   Broadwind’s entrance into the PRS market leverages the Company’s existing precision manufacturing and integration expertise, while further optimizing existing production facilities.   
  
  
• Opportunity to build a complementary business of scale within a nascent market. The U.S. PRS industry is a growing, highly fragmented market serving mainly energy, industrial, commercial and transportation customers.   As a business of relative scale with deep expertise in producing complex custom fabrications, Broadwind believes it is competitively advantaged to establish a growing presence within this market.