Acceleware Ltd. Reports First Quarter 2026 Financial and Operating Results

Calgary, Alberta--(Newsfile Corp. - May 29, 2026) - Acceleware® Ltd. (TSXV: AXE) ("Acceleware" or the "Company"), today announced its financial and operating results for the three months ended March 31, 2026 (all figures are in Canadian dollars unless otherwise noted). This news release should be read in conjunction with the Company's unaudited interim condensed financial statements and the accompanying notes for the three months ended March 31, 2026, and management's discussion and analysis ("MD&A") thereto, together with the audited financial statements for the year ended December 31, 2025, notes and MD&A thereto, all of which are available on Acceleware's website at www.acceleware.com or on www.sedarplus.ca.

Highlights

Financial Highlights

	Three Months Ended
		March 31, 2026	March 31, 2025
Revenue	$	116,304	431,226
Comprehensive loss	$	(729,855)	(382,195)
R&D expenditures	$	340,807	420,829

 

Operating Highlights
Acceleware's goal is to enhance western Canadian resources by helping producers increase production and reduce operating costs by using the Corporation's innovative electromagnetic RF heating applications.

Heavy Oil with RF XL 2.0
As part of the previously announced strategy to drive shareholder value, Acceleware is securing a portfolio of potential sites (through farm-in agreements or asset acquisitions) for commercial demonstration of its next generation RF XL 2.0 technology. Acceleware has signed two such farm-in agreements and is in detailed discussion with several additional companies regarding multiple assets in both Saskatchewan and Alberta in geological horizons known as the "Lloydminster Mannville Stack". The Corporation is moving ahead with the RF XL 2.0 Pilot at a Saskatchewan farm-in location and has begun the application process with the Saskatchewan Ministry of Energy and Resources. Detailed design of the surface lease and well planning has commenced.

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