Koil Energy Solutions in Provi

HOUSTON, May 31, 2022 (GLOBE NEWSWIRE) — Koil Energy Solutions, Inc. (Koil), formerly known as Deep Down, Inc. (DPDW), an international subsea energy equipment and services specialist, announced today receiving one to provide cable management services for a military project in the northern half of the United States.

“Expanding our cable management expertise beyond our traditional oil and gas business has been a key part of our strategic transformation,” said Charles Njuguna, President and CEO of Koil Energy Solutions, Inc. This price validates this strategy and further demonstrates the total addressable market. for our services. »

The project will require Koil to provide equipment and personnel for the installation and recovery activities of fiber optic cables and accessories, which will be used for military exercises in inland waterways.

“While our primary focus remains the energy industry, being called upon to support such a project provides further validation of the applicability of our capabilities in other industries,” Njuguna said.

About Koil Energy

Koil Energy is a leading energy services company providing subsea equipment and support services to the global energy and offshore industries. The Houston-based company founded in 1997 and formerly known as Deep Down, Inc. is comprised of world-class engineering and manufacturing experts who deliver innovative solutions to complex customer challenges with a fearless commitment to Energize the future. Koil Energy’s highly experienced team can support subsea engineering, fabrication, installation, commissioning and maintenance projects located anywhere in the world. Visit www.koilenergy.com to learn more.

Forward-looking statements All forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties to the extent that results actual may differ significantly. those projected in the forward-looking statements. In conducting our business, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industry conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company’s filings with the Securities and Exchange Commission, copies of which are available free of charge from the Company.

Contact with Investor Relations:
Trevor Ashurst
Vice President of Finance
[email protected]

Media Contact:
Hunter Dodson
Pierpont Communications
512-914-6745
[email protected]

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