Click here to close now.



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.

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
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
With microservices, SOA and distributed architectures becoming more popular, it is becoming increasingly harder to keep track of where time is spent in a distributed application when trying to diagnose performance problems. Distributed tracing systems attempt to address this problem by following application requests across service boundaries, persisting metadata along the way that provide context for fine-grained performance monitoring.
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
The maker of automated server migration software reports sales bookings increased 460 percent year-over-year and last week IDC forecast spending on public cloud services will grow to more than $141 billion in 2019. Seems (at last) we are at the tipping point where enterprises are adopting cloud in a big way opening opportunities for those who can help with the transition.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
@DevOpsSummit taking place June 7-9, 2016 at Javits Center, New York City, and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo 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.
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.