The technology, scheduled for rollout later this year, allows resource workers to better manage the entire wellhead flare and upstream processing procedure from an office desk.
"The distribution of our new burner management system will be a key driver of revenue growth in 2014-15 as we target the vast gas projects underway across the country," Prior CEO Kim Prior said.
"Australia has thousands of active wellheads, with tens of thousands more planned as gas from the major LNG projects begins to come online.
"We hope to have our new equipment out in the field by second quarter this year."
Profire will be responsible for the burner management system component of the technology, while Prior will supply locally designed and manufactured hardware.
"This burner management system provides an auto-ignition for the flare, which is better for the environment while improving efficiencies of operation, thus reducing costs and improving company margins," Prior said.
"Where possible we will be looking to provide solar power for these systems, making them fully self-sufficient.
"If a wellhead flare goes out for any reason, the process of producing and storing oil or gas can be halted in some cases and a person must attend to the unit.
"The PF21000 remotely manages these issues by reigniting the wellhead flare immediately if it goes out, while ensuring combustion efficiency."
Profire previously demonstrated the technology at a Chevron project in Wyoming.
"Before installing the PF2100 onsite, Profire found the current unit was only operating at 39% effi¬ciency," Prior said.
"Once the unit was installed and the combustion components were calibrated, the combustion unit achieved a significant increase in efficiency."
Prior and Profire are exploring future opportunities to launch technology innovations and products to market.