Qs Energy, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 23, 2020 at 02:22 pm EST
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QS Energy, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced net loss was USD 436,000 compared to USD 988,000 a year ago. For the nine months, net loss was USD 2.043 million compared to USD 4.728 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago.
QS Energy, Inc. develops and seeks to commercialize energy efficiency technologies that assist in improving the economics of oil transport and reducing greenhouse gas emissions. Its intellectual properties include a portfolio of domestic and international patents, a substantial portion of which have been developed in conjunction with and licensed by it from Temple University of Philadelphia, PA. Its primary technology is called Applied Oil Technology (AOT), a commercial-grade crude oil pipeline transportation flow-assurance product. AOT is engineered specifically to reduce pipeline pressure loss, increase pipeline flow rate and capacity, and reduce shippersâ reliance on diluents and drag reducing agents to meet pipeline maximum viscosity requirements. Its AOT crude oil viscosity reduction technology directly targets the heavy crude oil transportation industry, initially targeting the midstream crude oil pipeline operations which deliver high volumes of heavy crude oil to market.
QS ENERGY, INC. 
