Rival Receives Early Results on Upgrading Process
The oil and gas subsidiary of Rival Technologies Inc., TRU Oiltech, said that the first results from testing of its proprietary, heavy oil upgrading process have been received.
Initial test results are positive and indicate the process is improving distillate yield from the bitumen sample. Complete data and further details will be reported early next week. "Testing will be completed this week and we will be able to report complete data and results early next week." Adding, "I would like to thank Sandy Constable, Klaus Oehr, Dr. Pereira and the development team in Calgary, Alberta for their diligent and continuous efforts throughout the testing process." stated Robin Harvey, President of Rival Technologies Inc.
TRU Oiltech Inc. is developing a proprietary process for upgrading heavy oil and oil sands bitumen, which will significantly reduce oilsands production costs. The company's strategy is to license the process to major producers, in exchange for a capacity license fee and royalty payments. The company is actively pursuing a major joint venture - pilot project partner.
Cost reductions realized through improvements to existing heavy oil upgrading processes position Rival Technologies Inc. to participate in an industry sector worth hundreds of millions of dollars.
Rival Technologies Inc. is an energy related technology company, investing in emerging technologies with extraordinary market potential. Rival has filed several provisional patents and patent applications and is now focused on licensing its technology for industry use.
- TRU Technology Garners Addtl Interest From Oil Sands, Heavy Oil Folks (Mar 26)
- Rival Reports Breakthrough in Oil Sands Technology (Jan 16)
- Rival Receives Early Results on Upgrading Process (Dec 13)