PROPEL Energy Tech 2017
Event Date: Wednesday, March 1, 2017
Location: The Westin, Calgary, AB, Canada
Radio Frequency (RF) Heating: A Low-Cost, Low-Carbon Revolution for Heavy Oil and Bitumen Extraction
Join Acceleware at the PROPEL Energy Tech Forum March 1st for a presentation on our Radio Frequency (RF) Heating Technology and how it can revolutionize the production of heavy oil and oil sands. PROPEL is the annual Energy Technology Venture Forum that brings together the best, boldest, most innovative emerging and established energy technology companies.
Acceleware’s patent pending RF XL technology is an enhanced oil recovery (EOR) technology that uses radio waves (a form of electromagnetic heating) instead of steam, driving down the cost of oil sands and heavy oil production and significantly reducing its environmental impact. It requires less energy to operate when compared to SAGD, uses no solvents, and requires no additional water.
Acceleware has partnered with GE to develop and test a high-efficiency power delivery system for RFXL, and expects to commercialize the solution within five years. RF XL targets the Enhanced Oil Recovery market, which is estimated to be worth $283 billion USD by 2020, growing at 29% annually as new development around the globe shifts to a higher reliance on unconventional resources.
This presentation will provide an overview of the technology, it's economic and environmental impact, and the addressable market for the commercial product.
VP Commercialization, RF Heating
Mike is an accomplished executive with over 25 years of international experience building high-growth, disruptive and innovative businesses in the energy, utilities, telecommunications and technology sectors. Mike started his career in the oil and gas industry before pivoting to technology, where he worked on the development and deployment of several diverse and ground-breaking technologies. In 2013, he joined Acceleware after being attracted by the vast potential of its radio frequency (RF) heating systems for oil sands and heavy oil production. Mike’s unique aptitude for navigating the barriers associated with business growth coupled with a respect for both the energy industry and its political realities, makes him well-suited to spearhead the process of commercializing Acceleware’s RF heating technology. He holds a Masters of Business Administration from the University of Calgary and a Bachelor of Commerce in Finance from the University of British Columbia.