KOIL Energy Announces Expansion into Brazil with a New Manufacturing and Service Support Facility
HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) -- KOIL Energy Solutions, Inc. (OTCQB: KLNG) a leader in providing controls infrastructure for subsea oil and gas fields, today announced its expansion into Brazil, with a new technology center for manufacturing and service support in Macaé.
'Macaé represents an exciting new chapter for KOIL Energy as we establish our presence in Brazil, the largest subsea market in the world,' said Erik Wiik, KOIL Energy's President and CEO. 'This facility is expected to play a key role in our growth strategy, and we are grateful for the strong partnership and support from local customers and suppliers.'
Macaé is generally considered to be the center of the offshore petroleum industry in Brazil, and it is often referred to as "Cidade do Petróleo." KOIL Energy has leased a 180,000 sq ft property with offices and a workshop of 27,000 sq ft. The facility will house engineering, manufacturing, testing and service support activities.
'KOIL Energy's decision to prioritize Brazil in its growth strategy is driven by this country's ambitious plan to become one of the top five oil producers in the world by 2030 and maintain that position for years to come,' said Gustavo Goncalves, Managing Director of KOIL Energy in Brazil. 'KOIL's product portfolio is perfectly suited to support Brazilian operators on this exciting growth journey.'
The subsidiary, KOIL Energy Solutions Brasil LTDA, has been established as the legal entity for KOIL Energy's operations in Brazil. The company's head office is in Houston, Texas, United States.
About KOIL
KOIL Energy is a leading energy services company offering subsea equipment and support services to the world's energy and offshore industries. Founded in 1997 in Houston, Texas, the company is comprised of world-class experts in engineering and manufacturing who provide innovative solutions to complex customer challenges with a fearless commitment to Building the Future of Energy. KOIL Energy's highly experienced team can support subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world. Visit www.koilenergy.com to learn more.
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Q1 2025 vs. Q4 2024 Compared to Q4 2024, Zimapán processed 3% more mineralized material and increased silver equivalent production by 6%, reflecting sustained processing efficiency. Silver production rose by 3%, supported by a 3% increase in recoveries, while silver head grades declined slightly (-3%). Zinc output grew by 7%, driven by a 2% increase in head grades and a 1% improvement in recoveries. These quarter-over-quarter improvements demonstrate the operation's consistency and capacity to deliver incremental growth through continuous optimization. Q1-2025 vs Q1-2024 Zimapán delivered a strong first quarter, with mineralized material processed increasing by 9% year-over-year, which resulted in a 14% increase in silver equivalent production. Silver output rose by 10%, despite a 3% decline in head grades, supported by a 4% improvement in recoveries. Zinc production increased by 23%, driven by a 12% rise in head grades and a 2% gain in recoveries. These results reflect the successful execution of mine planning and a consistent processing environment, with head grades aligned with scheduled stopes. Qualified Person Garth Kirkham an independent consultant to the Company, is a qualified person under NI 43-101 and has approved the scientific and technical information contained within this news release. About Santacruz Silver Mining Ltd. Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties across Latin America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose production is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the Company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapán mine. 'signed' Arturo Préstamo Elizondo, Executive Chairman and CEO Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, cost reduction and enhanced metallurgical recovery (particularly of silver) in 2025. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to changes in general economic, business and political conditions, including changes in the financial markets, changes in applicable laws, and compliance with extensive government regulation, as well as those risk factors discussed or referred to in the Company's disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the assumption that the Company's capital investments will result in reduced costs and enhanced metallurgical recovery. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law. SOURCE Santacruz Silver Mining Ltd.
