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CVW CleanTech Announces a Groundbreaking Framework Agreement with First Nations and Métis Communities for the Commercialization of Its Oil Sands Tailings Technology
The framework agreement signifies a momentous stride in Indigenous communities' participation in ...
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[{"type":"text","content":"CVW CleanTech Announces a Groundbreaking Framework Agreement with First Nations and Métis Communities for the Commercialization of Its Oil Sands Tailings TechnologyThe framework agreement signifies a momentous stride in Indigenous communities' participation in clean technology solutions within the oil sands industryCalgary, Alberta--(Newsfile Corp. - June 25, 2024) - Today, CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) (\"CVW CleanTech\") announces the signing of a non-binding framework agreement with four First Nation and Métis communities from the Regional Municipality of Wood Buffalo. This landmark framework presents a step towards reconciliation by fostering meaningful partnerships and empowering Indigenous communities in the implementation and management of CVW CleanTech's tailings reprocessing technology.CVW CleanTech and Indigenous communities party to the framework agreement, as well as the Indigenous consultancy firm Âsokan Generational DevelopmentsThe agreement was signed with Athabasca Chipewyan First Nation, Fort Chipewyan Métis Nation, Fort McMurray 468 First Nation Economic Development Corporation, and McMurray Métis, and sets out the framework for those communities' economic participation and governance rights as part of the implementation of CVW CleanTech's technology, known as Creating Value from Waste™ (CVW™). This important process was supported by Justin Bourque, President and Founder at Âsokan Generational Developments. With reclamation being a key focus, CVW CleanTech has developed and patented its innovative technology that recovers valuable commodities, including bitumen, solvent, critical minerals, and water, from the froth treatment tailings facilities in the Athabascan oil sands. Diverting froth treatment tailings from oil sands tailings ponds to CVW CleanTech's own dedicated reprocessing facilities will have positive environmental and economic impacts for the industry. Through the industry wide implementation of its proprietary technology, CVW CleanTech can recover up to 13.2 million barrels of hydrocarbons and produce 1.5 million tonnes of critical mineral concentrates per year. The technology has the potential to eliminate up to 5 million tonnes of CO2e, primarily in the form of fugitive methane emissions, alongside significant reductions in Volatile Organ...