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Acceleware Energizes RFXL Commercial Pilot, Canadian Business Journal

Calgary, Alberta, March 9, 2022 (GLOBE NEWSWIRE) — Acceleware Ltd. (“Acceleware” or “Company”) (TSXV: AX), Canada’s Clean Technology Innovator of Radio Frequency (RF) Heating Technology, announced today: Heating began with a commercial-scale RF XL pilot project (“Pilot”) in Marwayne, Alberta. This achievement is a milestone in pilot execution and demonstrates the potential of RFXL to efficiently produce heavy oil and bitumen through RF-based electrification.

The pilot’s purpose is to validate RF XL technology as a means of producing heavy oil and oil sands, and to provide a preliminary verification of the sustainable economic benefits that result from RFXL. RF XL is a patented, low-cost non-patent that can reduce Scope 1 and Scope 2 greenhouse gas emissions (GHG) from zero to zero by decarbonizing heavy oil and oil sands production. A water-based recovery solution.

“We are very pleased with the progress made by RFXL pilots so far. This commercial scale test is the result of great innovation and determination, with only a feasible decarbonization of Canadian oil production in the short term. No, it is expected to prove to be very economical. We believe that RF-based electrification will play a very important role in the successful energy transition between Alberta and Canada. We are very excited about the steps, “said Geoff Clark, CEO of Acceleware.

“After years of design and development work by the Acceleware team and partners, we are pleased to be in the final stages of the Marwayne pilot,” said Dr. Michal Okoniewski, CSO of Acceleware. “The first power supply to an RFXL system is groundbreaking and has the potential to bring great technological advances to the industry.”

The pilot drilling and completion program began in August 2021 with a spud of producer wells and led to the completion of producer wells in December 2021.

Construction of the facility began in December 2021 and included the installation of power lines, electric houses (e-houses) and production equipment. In January and February 2022, the rest of the heating equipment and monitoring equipment was installed, the final facility was commissioned, and the site was energized. The rest of the e-house commissioning, including low-voltage and high-voltage testing of the CleanTech inverter, Acceleware’s own power inverter that converts electricity into RF energy to power the system, as well as various control systems. All permissions have been secured.

The power ramp-up phase is designed for the first RF XL heating period, Acceleware gradually increases power, intermittently pauses heating to assess performance, and tests the RF XL system as needed. intend to do something. The team uses this early phase data to optimize operations, establish operational baselines for the system, and identify design enhancements for future deployments. This data will also be used to improve future operational plans. Oil production capacity by heating is also evaluated.

The first RFXL heating phase is planned for about 6 months, but you can extend this period to allow Acceleware to get additional information about the efficiency and operation of the technology. If proven successful, the pilot will be the first in the world to electrify GHG heavy oil and oil sands production from low to zero. With the success of the pilot and subsequent commercialization, oil sands producers deploying RF XL can realize many potential environmental benefits. We look forward to highly skilled job creation and skilled employment transition opportunities, including indigenous jobs.

Acceleware’s Marwayne Pilot is supported by three major oil sands partners, including Sustainable Development Technology Canada, Emissions Reduction Alberta (ERA), Alberta Innovates, Broadview Energy, and Centovus Energy.

Visit our website for more information on pilots, reviewing previous news releases, and Acceleware’s innovative RF XL technology. acceleware.com..

About ACCELEWARE:
Acceleware (www.acceleware.com) Is a clean technology oil and gas technology innovator consisting of two business units: Radio Frequency (RF) Enhanced Oil Recovery and Seismic Imaging Software. Acceleware is developing RF XL. This is a patented low-cost, low-carbon production technology for heavy oil and oil sands that is significantly different from the heavy oil recovery technology currently in use. Acceleware’s vision is to enable the electrification of heavy oil and oil sands production via RF XL and support the transition to much cleaner energy production that can quickly bend the emission curve downwards. In addition, Acceleware’s RF XL technology is critical to an end-to-end integrated carbon management system that can eliminate greenhouse gas (GHG) emissions associated with heavy oil and oil sands production, whether fossil fuels or future clean bitumen. It can be a component. By-products such as petrochemicals, carbon fiber and blue or green hydrogen production. RF XL is water-free, solvent-free, has a small physical footprint, can be relocated between sites, and can be applied to different types of reservoirs. No tailing pond is required for shallow oil sands implementations.

Acceleware is affiliated Saa Dene Group (Co-founded by Jim Voucher) Acceleware | Kisâst wêw To increase the profile, adoption, and value of Acceleware technology. The common vision of the partnership is to improve the environmental and economic performance of the energy sector by supporting important ideals for indigenous peoples, such as respect for land, water and clean air.

The company’s seismic imaging software solutions are state-of-the-art for high-fidelity imaging, providing the most accurate and advanced imaging available for oil exploration in complex geology. Acceleware is a public company listed on the TSX Venture Exchange in Canada under the trading code “AXE”.

About Alberta Innovation:
Alberta innovates The state’s largest research and innovation institution. From funding to commercialization, we are Alberta’s innovation engine.

We are committed to solving today’s challenges, creating new opportunities and building a healthy, sustainable and prosperous future for today’s Albertians and future generations.

We are a place where innovation takes place, touching every corner of the state for the benefit of all Albertin.

About Sustainable Development Technology Canada (SDTC):
SDTC supports companies trying to do extraordinary things.

From early funding to education support, peer learning and market integration, we are investing in helping SMEs grow into successful companies that hire Canadians from coast to coast. We are constantly focused on supporting the company to grow and expand in an increasingly competitive market.

The innovations we fund solve some of the world’s most pressing environmental problems, such as climate change, recycling through the circular economy, and human well-being in the communities in which they live and in the natural environment with which they interact. It will help.

Emission reduction Alberta:
For over 12 years Age We have invested revenue from carbon prices paid by large end emitters to accelerate the development and adoption of innovative clean technology solutions. Since its founding in 2009, ERA has invested $ 769 million in 220 projects worth $ 6.5 billion that will lead to GHG reductions, the creation of competitive industries and new business opportunities in Alberta. .. These projects are estimated to reduce cumulative 42.3 million tonnes of CO2e by 2030.

Notes on forward-looking information and other advice
This news release contains “forward-looking information” in the sense of Canadian securities law. Forward-looking information generally means information about the issuer’s business, capital, or operations, including disclosures about the issuer’s future financial performance or financial position. Information about the future outlook for this press release can be identified by terms such as “believe,” “estimate,” “plan,” “potential,” and “will,” and provide information on when the pilot will run. It contains. And the expected benefits of RFXL technology. Acceleware assumes that the current timeline will not be delayed by internal or external causes and that R & D efforts, including commercial-scale test plans, will yield commercial products.

Actual results may differ from the forward-looking information in this press release due to certain significant risk factors. These risk factors are explained in detail in Acceleware’s ongoing disclosure document filed with SEDAR. www.sedar.com.. Acceleware undertakes no obligation to update or revise any forward-looking information in this press release, except as required by Canadian securities law.

This news release does not constitute an offer to sell or purchase the securities described in this release in the United States. Securities have not been and will not be registered under the Securities Act of 1933 (“US Securities Act”) or the State Securities Act. It may not be offered or sold in the United States or to Americans. Unless registered under US securities law and applicable state securities law or an exemption from such registration is available.

Disclaimer
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

For more information:
Jeff Clark
Tel: +1 (403) 249-9099
geoff.clark@acceleware.com

Acceleware Ltd.
435 10th Avenue SE
Calgary, Alberta, T2G 0W3
Canada
Tel: +1 (403) 249-9099
www.acceleware.com

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d369aba-a2ab-4cae-b7dc-9a101cd30428.


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Acceleware Energizes RFXL Commercial Pilot, Canadian Business Journal

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