Acceleware Announces Regulatory Approval of Marwayne Pilot Project

Source: www.gulfoilandgas.com 10/16/2020, Location: North America

Acceleware® Ltd., a leading developer of technologies targeting low-cost and clean extraction of heavy oil and bitumen, including enabling the development of low-carbon bitumen beyond combustion initiatives, announced that the Company has cleared a significant regulatory hurdle for its RF XL Marwayne Pilot Project first announced on May 20th, 2020. The Alberta Energy Regulator (AER) has issued Approval No. 13019 pursuant to the Company’s Experimental Scheme Application under the Oil Sands Conservation Act (OSCA) for the recovery of crude bitumen using RF XL at Marwayne.

The approval allows Acceleware to move ahead with the execution phase of the project and the Company has commenced ordering long-lead equipment and materials. Acceleware currently estimates construction to start as early as January, 2021, and heating as early as March, 2021. The initial heating phase of the project is planned for approximately six months, which may be extended by Acceleware to capture additional information on the efficiency and operation of the technology.

“Acceleware is excited to receive the experimental scheme approval from the AER to proceed with the Marwayne project,” said Geoff Clark, Chief Executive Officer of Acceleware. “We have successfully demonstrated to the AER not only the potential of RF XL, but also that we have a credible plan in place to validate that potential in the field. We have had the RF XL converter electronics in our hands for several months now, and with this approval we are moving full-speed ahead to secure the materials and contractors required to execute the test successfully. Acceleware appreciates the ongoing support of our funders, Emissions Reduction Alberta and Sustainable Development Technology Canada, and our pilot project partner, Broadview Energy Ltd.”

The Company intends to provide updates on the project as material developments occur.





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