Acceleware Ltd (TSE:AXE) has released an update.
Acceleware Ltd. has announced an update on its Marwayne, Alberta RF XL pilot project, focusing on decarbonizing industrial heating. After encountering subsurface challenges, the company has developed a plan to resume testing with an improved system, seeking an additional $5 million for redeployment. The pilot has already demonstrated significant milestones, including a high-performance multilateral heating well, increased oil production, and effective operation of its Clean Tech Inverter.
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