One of the leaders in clean technology, Acceleware (TSXV:AXE) is making waves with its innovative electromagnetic EM Powered Heat solutions. Built around a patented technology platform, these solutions promise to significantly reduce energy consumption compared with traditional fossil fuel-based heat systems, offering substantial operational cost savings.
Revolutionizing emissions reduction
EM Powered Heat is not just an emissions abatement technology; it represents a fundamental shift in how energy is used and managed. The technology can economically eliminate Scope 1 GHG emissions in two key ways:
- Reducing energy demand: By optimizing energy consumption, EM Powered Heat minimizes the overall energy required for heating operations.
- Electrifying the reduced energy demand: By transitioning to electric power, the technology further cuts down on emissions.
Additionally, EM Powered Heat can eliminate “scope 2 emissions” by operating on renewable power sources, making it a comprehensive solution for reducing carbon footprints
Key differentiators of EM Powered Heat
- 98 per cent energy efficiency: The technology boasts an impressive 98 per cent efficiency from electricity to delivered energy.
- Intermittent power compatibility: It can operate on intermittent power sources with instant on/off and repetitive cycle capabilities, making it ideal for “inside the fence” renewable power.
- Scalability: EM Powered Heat can scale from 250 kW to 100 MW, making it suitable for a wide range of applications.
- High-temperature and high-power applications: The technology is ideal for demanding environments.
- Ongoing pilots in mining and energy sectors: Acceleware is testing its solutions in real-world scenarios, including mining and energy sectors.
- Support for electrification in other sectors: The technology is ready to support electrification applications across various industries.
Advancing mining processes with the clean tech inverter
The Calgary-based tech company is also leveraging its clean tech inverter (CTI) to electrify and decarbonize mining processes. This includes applications such as drying mineral ores, calcining, thermal fracturing and other process heat needs. The company’s radio frequency RF XL technology, a replacement for steam-assisted gravity drainage, is estimated to reduce capital costs of bitumen and heavy oil production by more than 50 per cent, in terms of capital intensity and total capital investment. It is also estimated that RF XL can cut operating costs by a similar 50 per cent.
With minimal surface facility requirements and the mobility of the CTI, RF XL can be deployed at individual wells or pads, allowing operators to scale operations profitably and relocate the system as needed. This flexibility results in faster returns on investment and higher profitability.
Recent developments
In April 2024, Acceleware was awarded the second phase of a potash ore drying project by the International Minerals Innovation Institute (IMII). This phase aims to build on the first phase of work and further validate the use of RF energy from Acceleware’s CTI to dry potash ore and other minerals. IMII, a nonprofit organization funded by industry and government, is dedicated to fostering innovative education, training, research and development partnerships to support a world-class minerals industry. Its members include major industry players such as BHP (NYSE:BHP), Cameco Corp. (TSX:CCO), Fission Uranium Corp. (TSX:FCU), The Mosaic Co. (NYSE:MOS) and Nutrien Ltd. (TSX:NTR).
The investment corner
Acceleware’s EM Powered Heat solutions and CTI are poised to revolutionize energy efficiency and emissions reduction across multiple sectors. Investors should keep a close eye on Acceleware as it continues to innovate and expand its impact on the clean technology landscape.
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