Welcome!

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.

Contact:

Petrosonic Investor
[email protected]
Tel: (855) 626-3317
www.petrosonic.net

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
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
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.
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...
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.