Archrock invests in ECOTEC
By Keefe Borden26 April 2022
Archrock Inc. plans to buy a minority stake in Ecotec International Holdings, a manufacturer of methane emissions monitoring and management. Terms of the acquisition were not revealed.
As part of the deal, Archrock will also start offering ECOTEC’s suite of solutions to its customers. ECOTEC enables customers to identify, quantify and manage their emissions.
The company’s instrumentation and software provides accurate and directly measured emissions data, which is auditable by third-party organizations.
ECOTEC has more than thirty years of expertise in the natural gas, biogas, carbon credits and air quality industries. Archrock said its investment is expected to be used to accelerate ECOTEC’s recent expansion into the oil and gas industry.
“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 CEO. “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.”
The investment gives Archrock an opportunity to position itself to reduce emissions across the oil and gas industry, the company said.
Tim Novick, president and CEO of ECOTEC, said an increasing number of oil and gas companies have committed ESG strategies to measure and reduce their methane emissions.
“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,” he said.
Archrock is an energy infrastructure company with a pure-play focus on midstream natural gas compression.