Acceleware Ltd (TSE:AXE) has released an update.
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Acceleware Ltd. has announced its 2023 financial results, showing a narrower comprehensive loss compared to the previous year and continued investment in developing its transformative RF heating technology and intellectual property portfolio. Despite operational challenges with its RF XL Pilot project in Alberta, the company has made significant technological advancements in its Clean Tech Inverter, achieving extended run times and high power transmissions for improved oil recovery. Acceleware is now seeking additional funding for the project, which has received substantial government support, including a recent $3 million grant from CRIN.
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