EDMONTON, Sept. 10 /CNW/ - Titanium Corporation Inc. (TSX-V: TIC) and
Sustainable Development Technology Canada (SDTC) are pleased to announce that
Titanium's "Creating Value from Waste" project has been selected to receive up
to $4.9 million in funding from SDTC. The funds will be used to advance the
demonstration of technologies that recover valuable products from oil sands
tailings and deliver environmental improvements. The pilot demonstration
project which will be led by Titanium, include consortium members Syncrude
Canada Ltd., Sojitz Corporation and the Government of Alberta. Syncrude
Canada's participation as a consortium member is related to the provision of
tailings samples, field pilot hosting and reviewing test results.
"We are extremely pleased with this support from SDTC," said Scott
Nelson, President and CEO of Titanium. "This funding is instrumental in
advancing this new technology to increase resource recovery and reduce
The project aims to develop and demonstrate technology to recover
valuable products from oil sands tailings including heavy minerals,
hydrocarbons and water. Titanium's technology is designed to be applicable to
all open-pit oil sands operations and reduce emissions at oil sands sites.
Treatment and reuse of tailings water by Titanium's process has the potential
to reduce the consumption of fresh river water and the footprint of tailings
"Reducing the environmental footprint of the oil sands industry is one of
the greatest challenges Canada is currently facing," says Vicky Sharpe, SDTC
President and CEO. "Developing technology solutions to address challenges like
this will help us to green our economy, addressing our economic and
environmental priorities while becoming a global technology provider."
In addition to the SDTC funding, the project also received a $3.5 million
Energy Innovation Grant from the Alberta Government.
About Titanium Corporation Inc.
Titanium Corporation Inc. is developing the technology necessary to
recover heavy minerals, hydrocarbons and water contained in the waste tailings
streams from oil sands mining operations near Fort McMurray, Alberta. The
potential benefits from this "Creating Value from Waste(TM)" proposition are
twofold. First, the recovered minerals will have intrinsic value and will
provide shareholders with a source of revenue. Second, by using an integrated
approach to recovering minerals and hydrocarbons, there is potential for
industry-wide environmental benefits. The Company's shares trade on the TSX-V
under the symbol TIC. For more information, please visit
Sustainable Development Technology Canada (SDTC) is an arm's-length
foundation which has received $1.05 billion from the Government of Canada as
part of its commitment to create a healthy environment and a high quality of
life for all Canadians. SDTC operates two funds aimed at the development and
demonstration of innovative technological solutions. The $550 million SD Tech
Fund(TM) supports projects that address climate change, air quality, clean
water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the
establishment of first-of-kind large demonstration-scale facilities for the
production of next-generation renewable fuels. SDTC operates as a
not-for-profit corporation and has been working with the public and private
sector including industry, academia, non-governmental organizations (NGOs),
the financial community and all levels of government to achieve this mandate.
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.
For further information:
For further information: Scott Nelson, President & CEO, Tel: (403)
561-0439, firstname.lastname@example.org; Vincent Gallant, Vice President
Finance & CFO, Tel: (780) 760-0512 x302, email@example.com;
Patrice Breton, Director, Communications, SDTC, Tel: (613) 234-6313 x295,