The Acceleware Opportunity
Acceleware's vision is to be the global leader in decarbonizing industrial heating through its Clean Tech Inverter (CTI).
Acceleware’s patent pending CTI technology is an electrification engine for scalable, on-demand, decarbonized industrial heat. Developed to eliminate GHG emissions and fresh water use in heavy oil and oilsands production, the CTI uses cutting edge Silicon Carbide (SiC) technology that results in greater than 97% efficiency, compared to typical microwave or RF generators at only 70%-80% efficiency. This results in highly efficient heat at very low cost.
CTI is currently being deployed in the RF XL commercial heavy oil project at Marwayne, Alberta. Acceleware's patented disruptive RF XL technology is poised to revolutionize how this oil gets produced, enabling energy companies to cleanly and economically increase production levels while reducing carbon emissions.
Following commercial testing of RF XL, Acceleware intends to apply CTI to decarbonize other GHG intensive industrial heating processes such as grain and bulk solids drying, commercial building heating, and turquoise hydrogen production.
AXE provides investors:
Exposure to a clean-tech energy innovator developing low-cost, low-carbon extraction solutions for the oil industry
Cash flow-positive software platform to support the high-impact potential of our ground-breaking RF solution
Experienced and dedicated team with a history of value creation and commitment to environmental sustainability
Line of sight to commercialization with near-term catalysts offers an attractive entry point for investors
Acceleware is an innovator of clean-tech enhanced heavy oil recovery technology and a developer of software solutions for the oil industry. We are comprised of two business units: Radio Frequency (RF) Heating; and Seismic Imaging Software.
Acceleware was founded in 2004 and pioneered the use of the graphics processing unit ("GPU") as a compute platform. The first product, AxFDTD™, continues to be sold to many Fortune 500 companies such as Blackberry, Samsung, LG, Nikon, Merck, Boeing and Lockheed Martin.
In 2008, Acceleware entered the seismic imaging market with a GPU accelerated Kirchhoff Time Migration solution, followed by a Reverse Time Migration (“RTM”) library, AxRTM™ in 2009.
Acceleware identified a growing need to dramatically reduce the cost of production and the environmental impact of heavy oil and oil sands production. In 2010, Acceleware began working to develop new ways to apply RF energy to mobilize heavy oil and oil. With very promising test results, the company has been aggressively developing this game-changing innovation, working with several heavy oil and oil sands operators around the world.
In 2013, Acceleware introduced AxWAVE™, then AxFWI™, the current ‘state-of-the-art’ full waveform inversion solution in 2014.
Acceleware continues to expand the reach of these solutions by making them accessible via the cloud, starting with the AxWAVE seismic forward modelling application for survey design, and synthetic seismic modeling.
Having completed numerous tests and filed several patent applications for two different technology platforms between 2010 and 2015, Acceleware announced a partnership with GE Global Research in 2016 to further test and commercialize its patent-pending RF heating technology. We have now successfully completed an initial field test and are focused on completing initial stages of our commercial pilot test at Marwayne, Alberta by Q1 2022. Full-scale commercialization is slated for 2023.