CALGARY, Alberta--(BUSINESS WIRE)--Vorsana Environmental Inc. (Vorsana), a clean technology company, announced today the acquisition of NanosTech, a leader in developing nano-catalyst-based technologies for emerging clean energy markets.
The acquisition strengthens Vorsana's existing technology portfolio, and with NanosTech's In-situ upgrading technology (ISUT), it will help ensure Canada exceeds its 2030 emission reduction targets. Along with Vorsana's waste-to-biofuel and carbon capture technologies, it accelerates the path to creating a one-of-a-kind Catalytic-based Innovation Hub. This will be a hub dedicated to the cleantech sector to ensure Canada can sustainably hit its next 2050 GHG emission targets.
Speaking on the announcement, Myles McGovern, CEO of Vorsana, said the acquisition of NanosTech, headed by Professor Pedro Pereira-Almao and a world-renowned research team from the University of Calgary (U of C), will create a strong entity dedicated to making the Canadian energy industry a global leader and the industrial sectors more environmentally sustainable.
"We are very pleased to have NanosTech as part of the Vorsana team," he said of Kelowna-based Vorsana. "Pedro and the team have done a remarkable job developing disruptive technologies that can have a significant impact in reducing emissions while making a positive contribution to the bottom lines of the companies adopting these technologies.
"We are not giving up on Canadian oil; the oilsands need to be competitive, we have the technology to significantly reduce GHG emissions, increase pipeline capacity and not compromise the environment."
"We have been waiting to partner with an exceptional group of leaders like those at Vorsana," said Prof. Pereira-Alamo, speaking of the Vorsana and NanosTech combination. "We have spent years developing our technologies and researching solutions that solve problems for the energy industry."
Rapid Commercialization of NanosTech (ISUT)
The disruptive in-situ oil extraction method reduces GHG emissions by 35% in existing Steam-Assisted-Gravity-Drainage (SAGD) installations while increasing the net present value and recovery factor of the activity. It increases the oil API, eliminating the requirement for diluent.
This technology has been developed in Alberta, with over $30 million of Canadian taxpayers' support, the companies pointed out.
"We have spent many years researching and understanding the potential of these technologies, and now, we have the right solutions at the right time," said Pereira-Almao, referring to the readiness of the technology and Vorsana's impressive go to market strategies.
"Our proprietary nano-catalyst technology creates a fixed bed reactor in the reservoir; the chemicals adhere to the walls of the rock reservoir in a very small area and go to work, using less steam and extracting oil from the entire reservoir," said Prof. Pereira-Almao.
"At scale, the NanosTech ISUT process will take the equivalent of millions of cars off the road each year by reducing the emissions of the oilsands and will be a game-changer for the Canadian oilsands. It will provide immediate results both environmentally and financially, with an approach that can enhance existing SAGD technology, now commonly used," said Vorsana's McGovern.
Vorsana expects an ISUT skid to be in field demonstration this summer, with commercial deployment after that.
NanosTech brings innovative upgrading technology to Vorsana's waste to fuel process.
Vorsana has already developed a proprietary waste to fuel process capable of converting waste materials such as garbage, hard to recycle plastics and biomass into a cost-effective drop-in fuel capable of significantly reducing emissions within the transportation industry. NanosTech leads the frontier in catalytic upgrading by developing a novel low-cost modular solution for upgrading heavy oils and renewable fuels.
With NanosTech, Vorsana will leverage its modular mini-refining process to substantially improve the renewable fuels it produces. This will enable the company to make better low-carbon synthetic crude oil and ultimately low-carbon gasoline, diesel, and jet fuel, which can reduce tailpipe emission by up to 80%, according to Vorsana's executive vice-president, Andrew McGovern.
NanosTech and Vorsana will launch an Innovation Hub focused on enabling cleantech innovators within Canada.
As part of Vorsana, NanosTech is well-positioned to accelerate and extend its mission to help innovators in the energy and cleantech industries by leveraging their decades of experience in nano-catalysis research and development through its Calgary-based Innovation Hub.
"NanosTech has been a key enabler in providing their nano-catalyst expertise to support the creation of several other Alberta companies, which are making significant headway in providing viable solutions to combat climate change," said Prof. Pereira-Almao. "We will continue to license and develop key enabling technologies and supply innovative catalysis and catalysts to support these industries."
Vorsana Environmental Inc. is a global leader in the commercialization of waste management technology that converts waste into transportation fuels and utilizes captured CO2 in numerous high-value products.
Vorsana has 37 patents and has developed 15 different product solutions to reduce greenhouse gases (GHGs) and restore compromised environments, creating sustainable products for the future.
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NanosTech emerged from the U of C's Alberta Ingenuity Centre for In Situ Energy, and the NSERC Industrial Chair "Catalysis for Bitumen Upgrading," where Prof. Pereira-Almao has been working on upgrading technologies for more than 30 years, the last 18 years in In-situ (in-reservoir) upgrading and other technology schemes from CO2 conversion to renewable fuels. He brought and expanded decades of Venezuelan experience on upgrading bituminous oils and blended with young trainees and professionals. It is a Canadian powerhouse of innovation in catalysts and adsorbents for energy and fuels with environmental, sustainable, circular economy as its north.
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