Market Overview

Terves Breaks Ground on its Expanded Magnesium Foundry for Manufacturing

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Terves
Inc.
("Terves")
is pleased to announce that on July 27, 2018 Terves
broke ground on a 12,000 sq. ft. expansion to its Magnesium Foundry.
This H3-classified magnesium metal processing facility expansion enables
Terves to further expand its metal processing, heat treatment,
machining, and storage capabilities. The expansion plans include
additional permanent mold and materials handling and storage space, and
the addition of sand casting, squeeze casting, and diecasting
capabilities for custom magnesium and magnesium alloys and composites,
in addition to further expansion of build-to-print
component CNC machining services
. These additions enable the company
to support aerospace and defense magnesium applications in addition to
Terves' leading position in the dissolvable
oilfield tool
market.

"Dissolvable
Metals
are the New Composites as far as oilfield tools are
concerned. Oilfield tools made from composite materials were adopted in
the industry about two decades ago and today occupy a sizable market
share. We are seeing a major adoption and growth trajectory for oilfield
tools made from dissolvable
magnesium materials
. At the end of 2017, roughly 2% of all frac
plugs
deployed in the field were being made using dissolvable metals
and the market is expected to grow to 5% of all frac
plugs
deployed in the field by the end of 2018 – a 250% growth in
one year, with adoption and use increasing through 2025. We are seeing
tremendous innovation as the industry gains extensive field experience
with these new Engineered
Response multifunctional materials
, including several new staging
and completion tools
engineered using dissolvable
materials
. Given the massive value-add of dissolvable
tools
, primarily eliminating post-completion drill-outs coupled with
the ability to do longer laterals, we expect that dissolvable
tools
would replace over 30% of drillable tools used in well
completion over the next 3-5 years. Terves
is investing in a further doubling of production capacity for cast and
wrought magnesium products, and the expansion frees up space in existing
facilities for initial production of new Engineered
Response
products, including revolutionary expandable
structural materials
and gas-generating reactive materials", said
Mr. Andrew Sherman, CEO of Terves.

With the widest range of dissolvable
metals
, polymers
and metal
matrix composites
; Terves
is the technology and value leader in the industry. Terves
has a portfolio of 40+ published, pending and provisional patents that
not only cover the lowest-cost
highest-value dissolvable products
but also enabling technologies
such as tracers,
chemical
delivery in a dissolvable carrier
, coatings,
etc. that further augment the value of dissolvable
tooling
in the oil and gas industry.

About Terves

Terves
is the technology and cost leader in the development, manufacturing and
sale of Engineered
Response
™ smart materials for the oil and gas industry. Terves'
intelligent
materials
sense and respond to their local wellbore environment to
"do more", such as dissolve,
change
dimensions
, generate
force or heat, destroy chemicals or bacteria
, bond
together
, or solubilize and disperse based on change in time,
temperature, pressure, PH, electrostatic charge, or other change in the
local environment.

Terves
is the leading manufacturer of dissolvable
metals
and dissolvable
elastomers
that are used for making frac
balls
, plugs,
slips,
seals
and several other components used in oil and gas well completion and
production; and have been used for completing tens of thousands of
stages in North America, Europe, South America, Asia and MENA regions. Terves'
product portfolio also includes highly-engineered
specialty proppants
, expandable
materials
, acoustic
imaging tools
, thermites and structural reactive materials, net-shaped
ceramic-metallic (cermet) nanocomposites
, and high
energy density supercapacitors
. Terves
is a strong materials science research-based
and product-focused organization that works with oil
and gas majors
, operators,
EPCs
and OEMs
to develop and commercialize compelling technologies, products and
capabilities for critical challenges in oil and gas exploration,
production and completion operations.

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