Company Honored with the Enterprise Champion Award

HOUSTON, Nov. 9 /PRNewswire/ -- DeepFlex has received the No. 1 ranking for this year's FastTech 50 Award. The FastTech 50 program recognizes the 50 fastest growing companies in the Houston area that operate in the technology sector. Rankings were determined on the revenue growth percentage from fiscal 2007 to fiscal 2008 during which DeepFlex experienced a revenue growth of 3,896 percent.

"Recognition of this accomplishment further highlights the increasing demand and success of our products within the industry," said Michael Kearney, President and CEO of DeepFlex. "Our unique ability to design, manufacture and deploy all-composite subsea production pipe is a game-changing solution that enables offshore operators to produce oil and gas from deep and ultra-deepwater fields. As evidenced by this award, our proprietary technology is rapidly gaining traction in the industry, and our growth is made possible by an extremely talented and focused group of employees committed to the success of DeepFlex. Increasing demand for our products is further driven by their lighter weight, corrosion and fatigue resistant qualities which are less expensive to install than conventional steel flexible pipe."

DeepFlex was also selected as one of only two companies to receive the Enterprise Champion Award, awarded annually to companies which are distinguished not only in growth and industry leadership, but for being good places to work, having positive company cultures and demonstrating service to the community. DeepFlex was chosen as one of five semi-finalists, and was presented with the award at the FastTech 50 Awards luncheon in Houston on November 4, 2009.

About DeepFlex Inc.

Headquartered in Houston, DeepFlex designs, manufactures and deploys premium composite flexible pipe used in the global subsea oil and gas production environment. As the world's only manufacturer of unbonded non-metallic pipe for deepwater applications, the patented DeepFlex products are lighter, less costly to install, and do not suffer the corrosive effects of harsh environment service. The Company's principal investors include Energy Ventures; Chevron Technology Ventures, a unit of Chevron Corporation; Altira Group; Nomura Clean Technology Ventures, a unit of Nomura International; Heico Acquisition; Promon International and Robeco Alternative Investments, a unit of Rabobank.

For more information on the products and services provided by DeepFlex, visit the company's web site at www.deepflex.com.

    Contact: Brittlyn Pohl
    DeepFlex Inc.
    Phone: +1(713) 334.1500
    Extension 1128
    Brittlyn.pohl@deepflex.com

SOURCE DeepFlex, Inc.

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