CALGARY, June 13, 2017 /CNW/ - Acceleware Ltd.
(TSX-V:AXE) announced today that it has won the 2017 Global
Petroleum Show Award for Emerging Clean Technology.
Global Petroleum Show (GPS) hosts an annual awards process to
recognize and celebrate leaders who drive change and evolution in
the energy industry. Judging was completed by an independent
panel of 20 industry experts. The award was announced at the Awards
Breakfast held today at GPS 2017.
"Acceleware would like to thank the Global Petroleum Show and
the awards panel for recognizing our work to change the economic
and environmental reality of oil sands and heavy oil production,
and we would also like to acknowledge the great work of our fellow
nominees," said Mike Tourigny, VP
Commercialization for RF Heating. "We believe our RF XL
technology exemplifies the 'clean' in Clean Tech because it can
create a clean social license for the responsible production of
these assets, give operators a clean start to choose from new
reserves that have not been viable to produce to date, and provide
a clean slate to attract new capital investment to the industry by
drastically reducing the capital and operating costs traditionally
associated with oil sands and heavy oil production."
The patent-pending RF XL heating technology has the potential to
save billions of dollars in oil sands production costs by reducing
both capital and operating costs by at least 50 percent. RF XL
offers immediate and significant improvements in GHG emissions,
water use, land use, and does not require the use of solvents. As
an electrically driven process, RF XL can eventually provide a
clear pathway to zero GHG emissions production of heavy oil and oil
sands.
Acceleware will be presenting "Suitability of Various Reservoirs
for RF Heating" at the Global Petroleum Show during the Heavy Oil
Sessions at Stampede Park, Hall C, Booth 1376 on Wednesday, June 14 at 11:00am MST.
About Acceleware
Acceleware (www.acceleware.com) develops high performance
seismic imaging and modeling software products and provides
innovative technology for radio frequency (RF) heating, an emerging
thermal enhanced oil recovery method. As experts in programming for
multi-core CPUs and massively parallel GPUs, Acceleware's
professional services team specializes in accelerating
computationally intense applications for clients to speed up
product design, analyze data and help make better business
decisions. Acceleware's products and services are used by some of
the world's largest energy and engineering companies.
Acceleware is a public company on Canada's TSX Venture Exchange under the
trading symbol AXE. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimers
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. Forward-looking
information generally means any information about Acceleware that
is prospective in nature, and often includes words such as
"believes", anticipates", "expects", "estimates", "intends",
"potential" and words and terms of similar substance, in connection
with the expected future performance and economics of
Acceleware's RF XL technology.
Actual results may vary from the forward-looking information in
this press release due to certain material risk factors.
Acceleware assumes no obligation to update or revise the
forward-looking information in this press release, unless it is
required to do so under Canadian securities legislation.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Acceleware Ltd.