|By Marketwired .||
|June 10, 2014 10:15 AM EDT||
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.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 20, 2017 06:30 PM EST Reads: 5,444
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Jan. 20, 2017 05:45 PM EST Reads: 2,087
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 20, 2017 05:30 PM EST Reads: 1,463
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Jan. 20, 2017 05:15 PM EST Reads: 3,531
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
Jan. 20, 2017 05:15 PM EST Reads: 4,945
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 20, 2017 05:15 PM EST Reads: 3,801
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Jan. 20, 2017 04:45 PM EST Reads: 1,071
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 03:00 PM EST Reads: 1,642
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Jan. 20, 2017 02:30 PM EST Reads: 1,122
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Jan. 20, 2017 02:15 PM EST Reads: 608
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Jan. 20, 2017 01:30 PM EST Reads: 3,591
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jan. 20, 2017 01:30 PM EST Reads: 5,729
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Jan. 20, 2017 01:30 PM EST Reads: 5,233
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Jan. 20, 2017 01:00 PM EST Reads: 2,576
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Jan. 20, 2017 12:30 PM EST Reads: 3,189