CALGARY, June 21, 2012 /CNW/ - ETX Systems is pleased to announce that Suncor Energy will provide
support and participate in a field pilot of its IYQ Upgrading technology. This field pilot project is expected to be the
final development stage prior to commercial rollout of IYQ Upgrading technology.
IYQ Upgrading is a patent protected technology that leverages recent
advances in the fundamental understanding of processes used for the
upgrading of heavy oil into premium refinery-ready feedstock. ETX
Systems owns and is responsible for the award-winning development of IYQ Upgrading.
Gerard Monaghan, President of ETX Systems stated, "Efficient upgrading
of bitumen is critical to the economic and environmentally sustainable
development of our oil sands resource. The current benchmark process
for upgrading bitumen is more than 80 years old. IYQ Upgrading is designed to greatly improve upon existing commercial
upgrading. For a company of our size, government and industry support
is critical for realizing the full commercial potential of IYQ Upgrading."
ETX has received $2M in support from Alberta Innovates - Environment and
Energy Solution (AI-EES) for the development work up to this point. The
field piloting and further development of the technology is expected to
proceed with industry and AI-EES support and collaboration. Dr. Eddy
Isaacs, CEO of AI-EES stated, "Development of technology like IYQ Upgrading, to reduce the cost and environmental footprint of producing
marketable products from our energy resources is of strategic
ETX Systems Inc. is a fit-for-purpose private entity based in Calgary,
AB, whose sole mandate is to commercialize its patented IYQ Upgrading process. This process, designed for upgrading heavy oil,
aims to produce an industry-altering increase in the yield of
high-quality distillable liquids relative to delayed coking, for
significantly less cost per barrel.
Alberta Innovates - Energy and Environment Solutions, established in
January 2010, is the strategic research and technology arm of the
Alberta Government and is focused on developing innovative technology
solutions for the challenges facing Alberta's energy and environment
SOURCE ETX Systems Inc.
For further information:
contact Gerard Monaghan, CEO of ETX Systems Inc.
cell. (403) 554-7954