Hanwei Energy Services Corp. (TSX:HE) ("Hanwei" or the "Company") today announced that it has been awarded a new $4.1 million order, placed by an existing Canadian client, for the supply of the Company's high pressure, glass reinforced epoxy pipes and fittings.
This is the fourth order that the Company has confirmed in its Canada market, which now total approximately $5.3 million of pipe delivered or ordered over the last twelve months. The Canadian market now represents a new growth market for the Company's sales activities that widens the geographic distribution of its pipe sales. These Canadian market orders are for the Company's high-pressure 3", 4" and 6" diameter flow line products. Of these Canadian orders approximately 20 kilometers of Hanwei's high-pressure pipe is installed and operational. This includes installations with one of Canada's major oil and gas companies.
The Company has for the last ten years served a wide range of oil and gas projects with resilient, non-steel, composite pipes that have provided long term performance in high pressure, high temperature, and highly corrosive operating environments. Ongoing orders placed with existing clients, together with the endorsement of the Company with initial orders from new clients, continue to evidence the superior operating strengths of the Company's pipe products.
Key data points: The growth forecast = 22% annually for the next 7 years. Scroll below to get more insights. This market report covers Trends, opportunities and forecasts in megawatt proton exchange membrane water electrolysis hydrogen production electrolytic cell sales market to 2031 by type (aqueous solution electrolysis tank, molten salt electrolytic cell, and non aqueous solution electrolytic cell), application (chemical plant, thermal power generation, hydrogen refueling station, renewable hydrogen production, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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