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 importance."
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 sectors
For further information:
contact Gerard Monaghan, CEO of ETX Systems Inc.
cell. (403) 554-7954