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Acceleware Provides Update on Commercialization Plans for Game-Changing Low-Cost, Low-Carbon Oil Sands Technology
Acceleware Provides Update on Commercialization Plans for Game-Changing Low-Cost, Low-Carb...
About this update from Acceleware Ltd.
[{"type":"text","content":"\n\n\n\nAcceleware Provides Update on Commercialization Plans for Game-Changing Low-Cost, Low-Carbon Oil Sands Technology\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAcceleware Provides Update on Commercialization Plans for Game-Changing Low-Cost, Low-Carbon Oil Sands Technology\nCanada NewsWire\nCALGARY, March 16, 2016\n\n\n\n\n\n\nCALGARY, March 16, 2016 /CNW/ - Acceleware Ltd. (\"Acceleware\" or \"the Company\") (TSX-V:AXE) announced that it intends to commercialize its patent-pending thermal enhanced oil recovery technology using radio frequency energy.  Today's low oil price environment requires oil sands and heavy oil producers to dramatically rethink production techniques to profitably develop their assets. At the same time, the industry is well aware of the need to reduce its environmental impact by reducing greenhouse gas (GHG) emissions and eliminating external water use. To meet these challenges, Acceleware has developed a new low-cost, low-carbon RF heating technology that uses no external water or steam. The Company has filed two patents related to the technology. Acceleware believes the technology is a compelling alternative to SAGD because it has the potential to significantly reduce capital and operating expenditures, make meaningful reductions in GHG emissions, and eliminate external water use when utilized for oil sands production.\n\nFor the past five years Acceleware has worked with several world-class oil and gas companies to investigate, simulate, and design RF heating systems for heavy oil and oil sands production. In the course of this work, the team at Acceleware has become acutely aware of several critical limitations of the use of RF energy to mobilize heavy oil deposits such as the Canadian oil sands:\n\n\nPower transmission losses in deep wells reduce or eliminate cost and energy advantages \nExisting transmission line technology limits the amount of power that can be delivered to the antenna \nThe systems require the use of complex materials and sophisticated cooling systems \nTraditional RF generation electronics are cost proh...