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Low-Cost, Low-Carbon, and Waterless Oil Sands Production One Step Closer: Acceleware Files Patent and Announces Partnership with GE
Low-Cost, Low-Carbon, and Waterless Oil Sands Production One Step Closer: Acceleware Files...
About this update from Acceleware Ltd.
[{"type":"text","content":"\n\n\n\nLow-Cost, Low-Carbon, and Waterless Oil Sands Production One Step Closer: Acceleware Files Patent and Announces Partnership with GE\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\nLow-Cost, Low-Carbon, and Waterless Oil Sands Production One Step Closer: Acceleware Files Patent and Announces Partnership with GE\nCanada NewsWire\nCALGARY, June 14, 2016\n\n\n\nCALGARY, June 14, 2016 /CNW/ - Acceleware Ltd. (TSX-V:AXE) announced plans to test and commercialize its patent-pending \"RF XL\" heating technology that has the potential to save billions of dollars in oil sands production costs while significantly reducing GHG emissions and water use.  Calgary-based Acceleware will partner with GE to develop critical power components and complete a pilot test of the disruptive new heavy oil production technology. \n\nAcceleware's technology uses radio waves instead of steam, driving down the cost of oil sands production and lowering its environmental impact comparable to that of other global sources of crude oil. While RF XL provides a low-cost, low-carbon method to produce heavy oil and oil sands bitumen on its own, it can also improve production from existing and future SAGD projects.\n\nAcceleware will adapt GE's next generation silicon-carbide (SiC) power electronics technology to meet the requirements of RF XL. Acceleware expects pilot testing will draw on the expertise of a consortium of oil producers, with technology deployment on a typical oil sands well pair slated for 2017.  Due to the simplicity of the solution, the company believes it can be tested, commercialized, and ready for wide-scale deployment in three to five years.\n\n\"We believe RF XL has the potential to deliver operating cost savings of up to 50%, which is significant when compared to the current industry average operating cost of $14.39 for SAGD1,\"  said Mike Tourigny, VP Commercialization of RF Heating for Acceleware.  \"We also see potential for capital cost reductions on the order of 66% when compared to the industry average for SAGD.  In addition to compelling econ...