CALGARY, April 27, 2017 /CNW/ - Acceleware Ltd. (TSX-V:AXE) announced today that it has been selected as one of four finalists by the Global Petroleum Show Awards review panel for the Emerging Clean Technologies category. The panel was impressed by Acceleware's innovative new RF XL clean oil sands production 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 winner will be announced at the Awards Breakfast held at GPS 2017 on June 13, 2017.
"Acceleware is excited to be recognized for our work in rewriting the economic and environmental equation for oil sands and heavy oil production with our RF XL technology. Being among the top four innovators and leaders named as finalists for the 2017 Global Petroleum Show awards is a real honor," said Mike Tourigny, VP Commercialization for RF Heating.
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 (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.
SOURCE Acceleware Ltd.
For further information: Geoff Clark, Tel: +1 (403) 249-9099, [email protected]