Acceleware is ready to start site preparation for its test of radio-frequency in situ oilsands extraction after closing $10 million in funding from Sustainable Technology Development Canada and Emissions Reduction Alberta.
As an electrically driven process, Acceleware believes that its waterless technology can provide a clear pathway to zero-GHG production of heavy oil and oilsands.
The company recently announced a deal with Prosper Petroleum to use its Rigel oilsands lease north of Fort McMurray for the field pilot, which builds on bench-scale testing.
Final engineering design is expected to be complete before the end of 2018, followed by first road access to the site in the first quarter of 2019. Acceleware said it anticipates the completion of all site upgrades and drilling during the first six months of 2019. The initial heating phase is scheduled to run for six months utilizing a 2-megawatt silicon carbide prototype generator developed in partnership with General Electric. The first working module of the prototype generator is on-track for delivery and testing in November 2018, the company said.
Acceleware estimates the cost to complete the pilot will range between $16 to $20 million, and over the next 15 months, will execute its plan to fund the remaining $6 to $10 million with a combination of financing from additional industry partners and other activities.