Acceleware Provides RF XL Pilot Update - Seite 3

“With the depth and extent of the analysis, design work, and lab testing that we have done since the workover was paused, the Acceleware team feels strongly that the next iteration of RF XL subsurface structure addresses all known issues encountered in the first phase of the Pilot,” said Geoff Clark, Chief Executive Officer of Acceleware. “We’re extremely pleased that the clean-tech inverter exceeded expectations prior to the Pilot workover and that data continues to show that RF XL can heat the reservoir and improve oil production. Acceleware is going to continue to pursue avenues of industry and other financial support to see the pilot through to commercialization. At this time, the project will be on pause until we secure the financial support required for the upgrades and updates to the technology.”

RF XL is expected to be a transformative decarbonization technology for heavy oil or oil sands production. Not only can it eliminate direct GHG emissions from production, meaning it requires no carbon capture, but it would also eliminate the requirement for fresh water and significantly reduce land footprint. RF XL is also expected to lower capital costs by 50 percent and operational costs by 40 percent, providing the potential for this decarbonization technology to play a key role in the energy transition.

RF XL is the first of several electrification of industrial heating applications that Acceleware is commercializing with CTI, including electromagnetic heating for mining.

E-house at Acceleware's RF XL Commercial-Scale Pilot Test at Marwayne, AB. July 2023

About Acceleware

Acceleware is an innovator of clean-tech decarbonization technologies comprised of two business units: Radio Frequency Heating Technology and Seismic Imaging Software. 

Acceleware is piloting RF XL, its patented low-cost, low-carbon production technology for heavy oil and oil sands that is materially different from any heavy oil recovery technique used today. Acceleware's vision is that electrification of heavy oil and oil sands production can be made possible through RF XL, supporting a transition to much cleaner energy production that can quickly bend the emissions curve downward. With clean electricity, Acceleware’s RF XL technology could eliminate greenhouse gas (GHG) emissions associated with heavy oil and oil sands production. RF XL uses no water, requires no solvent, has a small physical footprint, can be redeployed from site to site, and can be applied to a multitude of reservoir types. Acceleware is also actively developing partnerships for RF heating of other industrial applications using the Company’s proprietary CTI.