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Transforming the Canadian Oilsands from Perceived Environmental Pariah to Paragon of Green Energy
April 29 @ 7:00 pm - 8:00 pm UTC-6
Thank you to all who attended the event on April 29, 2021. Please see the video recording of the presentation by Geoff Clark, CEO of Acceleware Ltd.
The principal method currently employed by the Canadian oilsands industry to extract bitumen from oilsands is steam-assisted gravity drainage (SAGD), with significant fresh water usage, reliance on natural gas-powered steam generation and water treatment facilities.
Acceleware Ltd. (TSX-V:AXE) is a Calgary-based company aggressively working to transform the oilsands industry into a far cleaner source of energy. Acceleware will shortly commence a full-scale, $20M commercial trial of its revolutionary (30+ patents filed, pending or issued) enhanced oil recovery (EOR) clean technology, called RF XL. This technology uses electromagnetic energy to directly heat target reservoirs to release bitumen from sand and/or reduce the viscosity of heavy oil to the point where it flows freely. Two global-scale oil producers are participating in this commercial trial by providing capital ($2M each) together with highly-specialized technical expertise.
By electrifying steam generation and eliminating external fresh water requirements, significant savings in capital and operating expenditures can be realized while dramatically improving environmental outcomes (up to a 100% reduction in greenhouse gas (GHG) emissions via renewable power, a marked reduction in surface disturbances, and the elimination of fresh water usage).
RF XL is generating significant and growing interest from operators around the world. In 2017, Acceleware received the Emerging Clean Technology Award at the Global Petroleum Show. In 2020, Acceleware formalized a partnership with the Saa Dene Group of companies founded by Jim Boucher, former chief of Fort McKay First Nation and Alberta Order of Excellence inductee in 2020. The partnership, Acceleware | Kisâstwêw, will work to raise the profile of RF XL with operators and investors to accelerate RF XL commercialization and adoption.