APS TECHNOLOGY AWARDED GRANT FROM U.S. DEPARTMENT OF ENERGY

APS Technology, Inc., an engineering and manufacturing company in Cromwell, Connecticut, has been awarded a Small Business Innovation Research (SBIR) Phase II grant from the U.S. Department of Energy (DOE). This $750,000, two-year award will allow APS to continue development of its innovative "Rotary Steerable Motor for Deep Gas Drilling." In addition to support from the DOE, APS will receive funding from BICO Drilling Tools, a major supplier of drilling motors for the petroleum industry.

The Rotary Steerable Motor will mark the next step forward in oil and gas drilling efficiency. Unlike currently available "steerable" or "rotary steerable" systems, APS's Rotary Steerable Motor will give the driller complete control over the direction in which a well will be drilled. Because it will enable the drill bit to be continuously oriented in the desired direction, it will eliminate "crooked" holes, which cause drilling, well completion and production problems. The Rotary Steerable Motor will also allow greater power to be delivered to the drill bit, improving drilling speed and performance.

Plans for Phase II of APS's project include designing several critical subsystems, as well as building and field testing two prototypes. APS President William E. Turner said, "This SBIR grant from the DOE, coupled with the additional investment from a potential customer, shows that our concept has tremendous credibility in the industry. We are confident that this new development will allow the U.S. to drill for oil, and especially for deep gas, with greater efficiency, leading to lower energy prices and decreased reliance on foreign suppliers."