Alberta-based Nsolv to receive $13 million in SDTC funding
March 8, 2016 - Nsolv has been awarded $13 million in grant funding by Sustainable Development Technology Canada (SDTC) to commercialize its technology for heavy oil extraction.
March 8, 2016 By Renée Francoeur
Nsolv, also awarded Clean50 and Clean16 titles from Delta Management Group, developed patented technology that uses warm solvent to extract in-situ heavy oil reserves. The technology lowers the amount of energy needed to remove heavy oil from the ground, using zero water and very little natural gas to heat the solvent.
Nsolv’s pilot project at Fort McKay, Alta. produced its 80,000th barrel in January 2016 and the company says it is in the process of finalizing a partnership with a major heavy oil producer to construct a commercial-scale facility. Nsolv also notes its technology is commercially viable at between 5000 and 10,000 barrels per day while other extraction methods are not currently commercially viable at this scale.
With less energy required, the process also results in an 80% reduction in GHG emissions, Nsolv notes, compared to existing extraction methods.
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