- The National Research Council of Canada Industrial Research Assistance Program is providing funding for NXT’s Stress Field Detection technology
- NXT’s SFD survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey to identify reservoirs with exploration potential
- SFD technology has been deployed in the upstream hydrocarbon sector and in a wide variety of geological settings worldwide
- NXT Energy Solutions Inc is a Canadian company that offers geophysical service to the upstream oil and gas industry
- NXT Energy Solutions Inc. (SFD) opened trading at C$0.395 per share
NXT Energy Solutions (SFD) is receiving funding for its proprietary Stress Field Detection (SFD) technology for geothermal applications.
The funding is being provided by the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The ultimate goal of providing a green upstream geophysical service for advancing renewable power initiatives in Canada and abroad.
George Liszicasz, President and CEO of NXT Energy, noted,
“We are extremely pleased to have support from NRC IRAP to advance the application of SFD to geothermal energy resources. Deploying SFD for geothermal projects will allow our clients a singular focus on the most favorable subsurface conditions for heat and fluid circulation. We believe that this will increase the chance of success while optimizing the overall time and costs in an ESG friendly manner. When combined with the existing SFD hydrocarbon application a number of distinct advantages arise such as investment decisions related to early stage geothermal prospecting, “drill / no-drill” calls, and mixed-use geothermal / hydrocarbon cogeneration projects. NXT believes that geothermal power generation and direct use applications will play an outsized role in the evolving energy sector due to its non-intermittent and baseload nature.”
To date, the SFD technology has been deployed in the upstream hydrocarbon sector to identify potential hydrocarbon traps onshore and offshore and in a wide variety of other geological settings, including thrust-fold belts, foreland basins, sub/pre-salt plays, and extensional regimes. SFD surveys have been utilized in North and South America, South Asia and Africa.
NXT Energy Solutions Inc is a Canadian company that offers geophysical services to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system.
NXT Energy Solutions Inc. (SFD) opened trading at C$0.395 per share.
