News Feed Item

Petrosonic Announces Successful Completion of Engineering Feasibility Analysis

Results Provide Blueprint for Commercial Scale-Up of Sonoprocess(TM) Technology

CALGARY, AB -- (Marketwired) -- 06/10/14 -- Petrosonic Energy, Inc. (OTCQB: PSON), an emerging leader in heavy oil upgrading and related technologies, reported today that it has successfully completed a third party engineering feasibility analysis and validation of its proprietary Sonoprocess™ sonic de-asphalting technology with Gas Liquids Engineering of Calgary.

"We are pleased and excited with the successful completion of this third party independent process which verifies and reaffirms the strong results previously obtained in our own internal testing," declared Petrosonic CEO, Art Agolli. "Moreover, for the first time, we now have validation of the scale potential of our technology including, importantly, the solvent recovery process. The resulting economic analysis affirms that we have the potential to operate our proprietary technology very profitably at a commercial scale. We can now show prospective customers and partners a complete engineering plan for a turnkey plant and a truly compelling economic model for plant operation."

According to Agolli, Petrosonic's sonication technology promises to not only improve the economics of heavy oil upgrading but to redefine them and enable a superior business model for the entire industry.

Current upgrading technology requires extremely high levels of capital investment that in turn necessitate large production volumes to make the economics work. While it would be highly desirable to upgrade and separate the products prior to transportation, until now this has not been a possibility. Today, large upgrading plants are located downstream because they must collect crude stocks from multiple production sites to obtain the volumes required in order to operate profitably.

Petrosonic' s proprietary sonication technology can be implemented at a capital cost per one thousand barrels/day of production that is less than 25% of that of current upgrading plants. Improvements to operating costs are equally impressive, as both process run times and the required quantity of solvent are dramatically reduced. As a result, the company believes that it may be possible, for the first time to construct and operate smaller scale upgrading plants so affordable that the upgrading process can now be moved all the way upstream to the wellhead, dramatically reducing transportation costs for producers while increasing the value of their production output.

"This is a truly exciting project with potentially very significant implications," said Kevin Bonde, project leader for Gas Liquids Engineering. "We have partnered with Petrosonic to apply innovative thinking and world class engineering design capability that may help to launch new technology into the heavy oil industry that promises to provide considerable advantages to the production and transport of heavy oil stocks."

"This has been a very successful effort," Agolli added. "Not only have we validated the feasibility for commercial scale implementation of our Sonoprocess™ technology, but we have also identified the potential for additional process improvements that may further enhance the already very promising economics of our plant operation. We look forward to reporting more on this latest round of process innovation and the resulting potential for significant increases in profitability."

Gas Liquids Engineering supervised all lab tests, generated the simulation of the separation and solvent recovery processes and coordinated end product analysis with Maxxam Analytics.

The successful results of the simulation were used to generate the preliminary engineering plan for scale up as well as cost estimates for the asphaltene separation and solvent recovery process equipment. The result is a flexible process unit with integrated step-wise solvent recycling in which process variables can be adjusted and optimized.

The sonication tests and the subsequent analysis conducted by Maxxam confirmed the capability of Petrosonic's technology to sonicate heavy oil using a paraffinic solvent to separate a heavy metals concentrated asphaltenes and resins fraction while producing a higher quality oil with increased API rating values.

About Petrosonic Energy, Inc.
Petrosonic Energy, Inc. is in business to deliver innovative technologies to the energy sector. The primary focus is to provide technologies, which upgrade heavy oil economically and in an environmentally friendly manner. The Company's patented Sonoprocess™ uses cleantech sonic energy to de-asphalt heavy oil at much smaller scale and lower capital costs than conventional upgraders and without the use of water or release of emissions in the atmosphere.

About Gas Liquids Engineering
Gas Liquids Engineering is a multi disciplinary engineering firm based in Calgary Alberta. With over 275 employees, GLE possesses broad in all of the engineering and project management services necessary for the successful design, procurement, installation and optimum operation of oil and gas processing facilities.

Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.


Petrosonic Investor
[email protected]
Tel: (855) 626-3317

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...