Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil company focused on the development and implementation of its proprietary oil-extraction technologies and remediation technologies, is sharing the completed design of its planned 5,000-barrel-per-day extraction plant. According to the announcement, Valkor LLC has updated and completed the design for the extraction plant. In 2019, Petroteq signed a technology license agreement with Valkor, which has been operating at PQEFF’s Vernal, Utah, plant since 2018. In the announcement, the company noted that it believes an updated FEED design is unique to the patented Petroteq technology, which is designed to permit a highly effective oil extraction process from oil sands in an ecofriendly method, making the process a true green-energy technology. Extensive studies have been conducted in preparation for the final engineering plans as well as on optimizing an ore mixing and decanting system, and Valkor has stated that it is ready to implement a 5,000 BOD plant design. The company noted that all necessary equipment has been verified as available within the allotted timeframe, and management is confident the updated plant design is of the highest technical quality and will exhibit superior operating performance. “Our advances in engineering work exemplify our intentions to continue to operate the company toward future expansion and revenue growth, regardless of the ongoing offer from Viston United Swiss AG,” said Petroteq Energy’s CEO and chief technical officer Vladimir Podlipsky in the press release. “Management will continue to handle business as usual and make utmost efforts to enhance shareholder value.”
To view the full press release, visit https://ibn.fm/GXRtL
About Petroteq Energy Inc.
Petroteq is a clean-technology company focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The versatile technology can be applied to both water-wet deposits and oil-wet deposits, outputting high-quality oil and clean sand. Petroteq believes that its technology can produce a relatively sweet heavy crude oil from deposits of oil sands at Asphalt Ridge without requiring the use of water and, therefore, without generating wastewater that would otherwise require the use of other treatment or disposal facilities, which could be harmful to the environment. Petroteq’s process is intended to be a more environmentally friendly extraction technology that leaves clean residual sand, which can be sold or returned to the environment without the use of tailings ponds or further remediation. For more information about the company, visit www.Petroteq.energy.
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.
