CALGARY, July 5, 2016 /CNW/ - Value Creation Inc. ("VCI") is pleased to announce the filing of an Amendment application with Alberta Energy Regulator on June 17, 2016 (Application No. 1861615), to add its proprietary Clean Oil Refining Units ("CORe TM") at its approved Heartland Upgrader Project ("HUP"), located at Strathcona County, within the Alberta Industrial Heartland, a pivotal logistics hub for Oil Sands products.
The approval would complete our Mission to provide Value Chain Solutions ("VCS TM") to bitumen producers, cost effectively and environmentally, for REAL Value – Enhancement for Alberta and Canada.
Fundamentally, bitumen has unusually high contents of carbon-rich microsolids, the key culprit for its high viscosity, difficult and cost intensive upgrading & refining (with high energy consumption and GHG emissions), leading to limited markets and severe logistics limitations.
With VCI's proprietary technologies, such carbonaceous microsolids are very selectively removed upfront from bitumen (or bitumen emulsion, or froth, if technologies are implemented at production sites).
The product Clean Medium/Heavy Oils (readily marketable themselves) have much lower viscosity, and can be easily further upgraded and refined, resulting in a CORe TM design of unique configuration simplicity, producing high quality/value-added products with broad marketability.
The Heartland Complex (now named as "VCS-H") is the Mid-stream/Down-Stream link of VCI's Full Value Chain, designed to serve Bitumen Producers. It has a design capacity of 174,000 bpd. When fully implemented, VCS-H is expected to be the Best-In-Class Bitumen Refinery – environmentally and economically, robust to oil price volatilities. The Heartland plant site could accommodate a 4-fold expansion.
Dr. Columba Yeung, Chairman and CEO, observes, "It is not just REFINING, it is RE-DEFINING the Full Value Chain Development of Oil Sands, Sustainably."
Significant capital has been invested in the already approved Upgrader, which could be implemented expeditiously.
This notice or the information contained herein is not being issued in or into, and may not be distributed directly or indirectly in or into, the United States of America or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
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This communication is based on information available when this communication was prepared and is provided as a matter of convenience only. VCI makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCI disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this communication, and for any written or oral communications made by VCI or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is it to be construed as an advertisement or offer to sell any securities of VCI. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCI's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward looking statements. Accordingly, no assurance can be and none is given in this communication that any of the forward looking statements will transpire or occur, or if any of them do so, what benefits VCI will derive therefrom. VCI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
SOURCE Value Creation Inc.
For further information: please contact Samantha Yeung at 403-539-4510 or email [email protected] and visit the Value Creation Inc. website at http://www.vctek.com/