Anpath Group Inc., through its wholly-owned subsidiary EnviroSystems Inc., produces cleaning and disinfecting products that it believes will help prevent the spread of infectious microorganisms. The company’s products will do this while minimizing the harmful effects to people, equipment and the environment.
The company recently engaged investment banking firm Laidlaw & Company to seek a strategic partner for its new product for the oil and gas industry – GeoTru Concentrated Biocide. GeoTru is an environmentally correct biocide designed to control microorganisms including bacteria, fungi and algae in oil and gas well stimulation fluids used for hydraulic fracturing and related oil and gas field water systems.
GeoTru will control bacteria in drilling applications and serves to prevent the degradation of fracing fluids and gels used in well stimulations. The product is to handle and ship because of its favorable toxicity profile compared to other biocides used for the same purpose. GeoTru is not reactive with typical down-hole chemistries and is equipment-compatible.
Anpath reported today that it has signed a letter of intent with Swiss chemicals giant Clariant Corporation focused on the distribution of GeoTru. Clariant is a world leader in specialty chemicals. Its oil & mining services business unit, headquartered in Houston, is a leading provider of products and services to the oil, refinery and mining industries.
The details of the letter of intent were not disclosed but Anpath stated that the letter of intent was a precursor to a more definitive agreement with Clariant, based on due diligence to be completed by both companies. The company is confident of a favorable agreement with Clariant soon based on its long-term relationship with the Swiss company.