- Patented extraction technology is cleaner and more cost effective than existing processes
- Petroteq focusing on huge oil sands reserves in Utah
- Current production capacity of Utah plant is 1,000 bpd
- Construction of new 5,000 bpd plant in Utah scheduled to start in 2019
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) has developed patented clean technology for the extraction of oil from sands and shale, which disrupts existing processes. Traditional extraction processes damage the environment, require substantial capital investment and leave vast tailing ponds which take years to reclaim. Petroteq’s proprietary solution is cost effective, produces no greenhouse gases, leaves no waste and provides significantly better economies of scale through modular expansion. To date, the company’s oil sands extraction technology has been awarded two patents in the United States and Canada.
Petroteq’s innovative technology involves mixing crushed raw oil sands with a solvent to extract bitumen oil. In the first stage of the process, raw ore is mixed with solvent in a feed bin before being transported to a mill. The mill crushes the ore to facilitate better dissolution of the oil in the solvent. This mixture is agitated into a fluid before being…
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