Acceleware Ltd. is awarded a $10 million non-repayable contribution to complete a commercial-scale field test of its clean energy technology for bitumen and heavy oil extraction, according to the company. The funding will reportedly be provided by Sustainable Development Technology Canada (SDTC) and Emissions Reduction Alberta (ERA) in accordance with their mandates to bring clean technologies to market that are economically viable and reduce GHG emissions. The funding is contingent upon the execution of contribution agreements with both SDTC and ERA and a partnership with an oil sands producer to complete the commercial scale field test. Acceleware is in the process of finalizing a partnership with one or more oil sands producers as required to complete this commercial-scale field test in an oil sands reservoir.
On the heels of a successful 1/20 scale field test earlier this year, Acceleware will complete a commercial-scale field test of its patent pending RF XL technology, according to the company. RF XL mobilizes heavy oil and bitumen by using radio waves to heat the water already present in the reservoir. RF XL reportedly requires no chemicals or solvents, no external water, utilizes a smaller surface footprint and can reduce GHG emissions by 50-100%, compared to steam assisted gravity drainage (SAGD). If successful, RF XL will allow Alberta oil to compete as it is commercially viable one well at a time allowing both large and small operators to explore new deposits, and produce them profitably and cleanly, according to Acceleware. The commercial-scale test will utilize electronics developed in partnership with GE.
"SDTC is incredibly proud to support Acceleware," says Leah Lawrence, president and CEO of SDTC. "Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. RF XL is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and people around the world."
For more information, visit: www.acceleware.com
