CALGARY, AB, Might 3, 2021 /CNW/ – Benefit Oil & Gasoline Ltd (“Benefit”) is happy to announce that its subsidiary Entropy Inc. (“Entropy” or the “Company”) has signed a Know-how Improvement and Funding Settlement (the “Settlement”) with the College of Regina’s Clear Vitality Applied sciences Analysis Institute (“CETRI”), which secures unique possession of a brand new technology of carbon seize solvents.
Highlights of the Settlement embrace:
Entropy has secured unique rights to a novel solvent designed particularly for Entropy’s post-combustion carbon seize and storage (“CCS”) techniques. This solvent know-how is the product of over 25 years of analysis, and offers massive cyclic capability, excessive stability, and low operational points. CETRI check outcomes up to now present a step-change discount in vitality necessities and circulation charges in comparison with all solvents which can be at present out there.
Engineering professors Dr. Raphael Idem (founding director of CETRI and SaskPower Clear Vitality Analysis Chair), and Dr. Paitoon Tontiwachwuthikul (co-founder of CETRI) will act as advisors to Entropy. Dr. Idem and Dr. Tontiwachwuthikul are worldwide consultants and pioneers within the area of post-combustion carbon seize. Dr. Tontiwachwuthikul’s work has been cited over 12,500 instances and Dr. Idem’s analysis has been captured in over 200 publications. For greater than 20 years, their analysis has been elementary to advancing solvent-based CO2 seize processes globally and has been built-in into carbon seize amenities in Norway, Canada, USA, Thailand, China, and the Netherlands.
By establishing the Settlement with CETRI, Entropy has secured entry to state-of-the-art gear and deep expertise in post-combustion carbon seize, which has been vital in serving to drive the price of CCS all the way down to the purpose the place it’s business beneath $50/tonne. Entropy is searching for patents on a number of new applied sciences required to scale back the price of capturing carbon and storage, together with the brand new solvent class. Entropy’s CCS know-how was developed collectively by Benefit and Allardyce Bower Consulting Inc. (“ABC”) and is relevant to most point-source industrial emissions, together with sectors which can be tough to decarbonize like energy technology, blue hydrogen, LNG, oil and gasoline processing, and manufacturing of cement and metal.
CETRI is one in all only some amenities on the planet with full functionality of creating and testing CCS solvent know-how. CETRI researchers started creating post-combustion carbon seize know-how nearly 30 years in the past for an enhanced oil restoration challenge at Weyburn, Saskatchewan, which is now the most important current carbon seize challenge on the planet. CETRI is positioned within the College’s Greenhouse Gasoline Applied sciences Middle, which homes the next know-how and experimental amenities:
A number of versatile carbon seize modules together with bench scale, pilot scale and demonstration scale
Flue gasoline synthesis to simulate numerous emissions chemistries and situations
Specialty solvent growth and testing laboratory together with the total spectrum evaluation of all elements of amine efficiency, together with degradation of amines, emissions from amine solvents, foaming conduct, and corrosivity
Mass switch research and testing of quite a lot of superior random and structured column packings
Full catalyst synthesis, characterization, and testing laboratory
Small-scale catalytic reactors (with H2S and SO2 testing capabilities)
Specialty solvent synthesis and testing laboratory
Flooring scale catalyst aided carbon seize rigs
Along with CCS analysis and growth, the CETRI analysis staff are advancing zero-emission hydrogen (H2) applied sciences and waste-to-renewable fuels and chemical compounds
“The College of Regina is worked up to embark on this collaboration with Entropy, creating and advancing a high-performance solvent for Entropy’s carbon seize and storage system,” commented Dr. Hussameldin Ibrahim, Director of CETRI.
Since saying the founding of Entropy (see Benefit press release of March 31, 2021), Entropy has been engaged by quite a few third events to judge and design MCCS tasks in a number of industrial sectors. The Company seems to be ahead to offering updates on these tasks as they progress, independently from Benefit company updates.
About Entropy Inc:
Entropy is a privately-owned firm, based by Benefit to use subtle science and engineering to commercialize CCS. Entropy’s know-how is anticipated to ship business profitability at a carbon worth beneath CAN$50/ton, utilizing proprietary modular carbon seize and storage (“MCCS”) know-how. Entropy intends to deploy this know-how within the world effort to scale back and ultimately remove carbon emissions.
About Benefit Oil & Gasoline Ltd:
Benefit is a low-carbon vitality producer centered on creating its prime quality Montney sources. Benefit’s owned infrastructure, top-tier value construction and capital effectivity present a powerful basis for sustainable, disciplined manufacturing development. With trendy, low emissions-intensity property and the Glacier carbon seize and sequestration asset, Benefit continues to proudly ship clear, dependable and sustainable vitality, contributing to a discount in world emissions by displacing high-carbon fuels. Benefit’s widespread shares commerce on the Toronto Inventory Trade below the image AAV with its head workplace in Calgary, Alberta, Canada.
About Allardyce Bower Consulting Inc:
ABC is a Calgary-based engineering, procurement and development administration firm with main experience in a number of elements of gasoline processing and modularization. ABC’s Ideas Brent Allardyce and Rick Bower present over 75 years of associated expertise in designing, troubleshooting, and working gasoline processing amenities with modern skilled companies and distinctive functionality.
About The College of Regina:
With campuses positioned on Treaty 4 and Treaty 6 territories, the ancestral lands of the Cree, Saulteaux, Dakota, Lakota and Nakoda nations and the homeland of the Métis—is a complete, mid-sized college that traces its roots again to the creation of Regina School in 1911. Right now, greater than 16,600 college students examine throughout the College’s 10 colleges, 25 educational departments/colleges, 18 analysis centres and institutes, and three federated schools (Campion School, First Nations College of Canada, and Luther School). The College of Regina has a longtime popularity for excellence and modern packages that result in undergraduate, grasp, and doctoral levels. The College of Regina was named the Analysis College of the 12 months in 2020 (undergraduate class) by Analysis Infosource.
The data on this press launch comprises sure forward-looking statements, together with throughout the that means of relevant securities legal guidelines. These statements relate to future occasions or our future intentions or efficiency. All statements apart from statements of historic truth could also be forward-looking statements. Ahead-looking statements are sometimes, however not at all times, recognized by way of phrases equivalent to “anticipate”, “proceed”, “display”, “anticipate”, “could”, “can”, “will”, “imagine”, “would” and related expressions and embrace statements regarding, amongst different issues, the phrases of the Settlement with CETRI; Entropy’s plans to hunt patents on new applied sciences; CETRI check outcomes; anticipated advantages of Entropy’s know-how; and Entropy’s plans for its know-how. Benefit’s and Entropy’s precise selections, actions, outcomes, efficiency or achievement may differ materially from these expressed in, or implied by, such forward-looking statements and accordingly, no assurances may be provided that any of the occasions anticipated by the forward-looking statements will transpire or happen or, if any of them do, what advantages that Benefit or Entropy will derive from them.
These statements contain substantial recognized and unknown dangers and uncertainties, sure of that are past Benefit’s and Entropy’s management, together with, however not restricted to: modifications usually financial, market and enterprise situations; trade situations; actions by governmental or regulatory authorities together with growing taxes and modifications in funding or different rules; modifications in tax legal guidelines and incentive packages; modifications in carbon tax and credit score regimes; competitors from different producers; the dearth of availability of certified personnel or administration; credit score danger; modifications in legal guidelines and rules together with the adoption of latest environmental legal guidelines and rules and modifications in how they’re interpreted and enforced; potential to adjust to present and future environmental or different legal guidelines; inventory market volatility and market valuations; failure to attain the anticipated advantages and outcomes of Entropy’s know-how; failure to attain the anticipated advantages of the Settlement with CETRI; potential to acquire required approvals of regulatory authorities; and skill to entry enough capital from inner and exterior sources.
With respect to forward-looking statements contained on this press launch, Benefit and Entropy have made assumptions relating to, however not restricted to: situations usually financial and monetary markets; results of regulation by governmental companies; present and future commodity costs and royalty regimes; future trade charges; royalty charges; future working prices; availability of expert labor; timing and quantity of internet capital expenditures; the affect of accelerating competitors; that Benefit and Entropy could have enough money stream, debt or fairness sources or different monetary sources required to fund its capital and working expenditures and necessities as wanted; that Entropy’s conduct and outcomes of operations shall be per expectations; that Entropy could have the power to develop its know-how within the method at present contemplated; present or, the place relevant, proposed assumed trade situations, legal guidelines and rules will proceed in impact or as anticipated; and the anticipated advantages and outcomes from Entropy’s know-how are correct in all materials respects. Readers are cautioned that the foregoing lists of things will not be exhaustive.
Administration has included the above abstract of assumptions and dangers associated to forward-looking data above with the intention to present shareholders with a extra full perspective on Entropy’s future operations and such data will not be acceptable for different functions. Entropy’s precise outcomes, efficiency or achievement may differ materially from these expressed in, or implied by, these forward-looking statements and, accordingly, no assurance may be provided that any of the occasions anticipated by the forward-looking statements will transpire or happen, or if any of them achieve this, what advantages that Benefit and Entropy will derive there from. Readers are cautioned that the foregoing lists of things will not be exhaustive. These forward-looking statements are made as of the date of this information launch and neither Benefit or Entropy disclaims any intent or obligation to replace publicly any forward-looking statements, whether or not because of new data, future occasions or outcomes or in any other case, apart from as required by relevant securities legal guidelines.
SOURCE Benefit Oil & Gasoline Ltd.
View authentic content material to obtain multimedia: http://www.newswire.ca/en/releases/archive/May2021/03/c6336.html