PGI, Carbon Based Solutions and ProOne form joint venture

PGI Energy, Inc. of Houston, Texas, U.S.A., has entered into a partnership with Carbon Based Solutions and ProOne Extreme Lubricants of Orange County, Calif., U.S.A., to bring ProOne’s products to the worldwide market. Under the terms of the joint venture, PGI will use its sales force to market ProOne’s eco- friendly line of lubricants and drilling fluids. Both companies will share equally in profits from the venture. ProOne’s products which are mostly vegetable-based and non-corrosive are developed using proprietary technology which reduces friction and heat at points of metal-to-metal contact. (August 5, 2011)