Acceleware Ltd. Reports First Quarter 2020 Financial and Operating Results - Seite 2

Also in the quarter, a new patent application was filed which adds to the 16 patent applications filed and pending as of December 31, 2019 to protect various proprietary technologies related to the RF Heating R&D. Significant progress was made in Q1 2020 on the prosecution of key RF Heating patents and the Company continues to work closely with the patent offices and its intellectual property advisors.

The commercial-scale test of RF XL was announced as drill-ready in Q4 2019 and in Q1 2020 post-design preparation began, which led to several successful outcomes, including:

• Detailed Component Performance Evaluation: Completion of a successful high voltage test of transmission line components, testing of subsurface components to gain further knowledge of expected performance and preparation for a high-power test of the GE designed RF converter prototype.
• Industry Partner Peer Review: A strong collaboration with a major oil sands operator includes QC/QA on all data and testing results, and the ability to leverage the operator’s expertise in areas of drilling and completions, production, material design, electrical engineering, facility design and project management.
• Well Design Evaluation and Testing: Completion of a robust engineering de-risking program related to critical well design components including thermal, electrical and mechanical strength.
• Third Party Engineering, Design and Testing: Developed multiple working partnerships with industry leaders, who provide drilling and completions well design and execution support, including service companies and technical experts interested in working with clean technology.  As a result, Acceleware is poised to benefit from years of experience within the energy industry.
• Positive Field/Lab Experiment: Realized successful test metrics from the field test completed in the fourth quarter of 2019 which assessed the magnitude of power levels injected, converter efficiency, load adaptability and confirmed the ability to perform under a variety of environmental operating conditions.

Acceleware also realized meaningful impact in its efforts to drive external awareness and position its RF Heating technology more prominently in the clean-tech field across several avenues. Acceleware’s involvement with Clean Resource Innovation Network (“CRIN”) in 2019 led to a series of articles featuring Acceleware, two of which were published in Q1 2020, by JuneWarren-Nickle’s Energy Group (“JWN”) focused on the Company’s RF Heating technology and its impact on Canada’s evolving energy landscape.  This relationship with JWN also led to the nomination of Acceleware as a finalist in the JWN Energy Excellence Awards in the category of “Environmental Excellence: Land”.