Acceleware® Ltd., a leading developer of technologies targeting low-cost and clean extraction of heavy oil and bitumen, announces that Alberta Innovates has provided a further $900,000 in non-dilutive grant funding for Acceleware’s RF XL pilot project at Marwayne, Alberta (the “Pilot”).
The Company continues to be pleased with progress at the Pilot to date, including recent progress on the heating well workover program. The workover program is in response to damage incurred to the fibre optic distributed temperature sensing (DTS) system in the heating well during a maintenance operation at the Pilot in late July 2022. Though not a core component of the RF XL technology itself, the DTS is important to data gathering and power regulation to ensure the system operates within specified parameters. In conjunction with the repair of the DTS, the Company will take the opportunity to remove and inspect certain downhole components of the RF XL system, to gain valuable information regarding the initial performance of the RF power transmission system. The Company’s workover plans included input and review from industry partners, sourcing replacement parts and securing service vendors. Upon completion of the workover, heating operations and further testing are expected to resume.
Numerous potential environmental benefits could be realized by oil sands and heavy oil producers deploying RF XL, once proven. Acceleware’s RF XL radio frequency heating technology generates near-zero GHG emissions when powered entirely by renewable electricity, nuclear, or other clean electricity. In addition, RF XL eliminates the need for fresh water, and requires less land use, offering a cleaner and more sustainable solution to meet the world’s growing demand for energy. For further information about the Pilot, to review prior news releases and learn more about Acceleware’s innovative RF XL technology, please visit the Company’s website at acceleware.com.
The Company anticipates providing further updates on the workover program as it nears completion.
