Acceleware Ltd V.AXE

Alternate Symbol(s): ACWRF

Technology Software - Application

Acceleware Ltd. is an advanced electromagnetic (EM) heating company with highly scalable EM solutions for large industrial applications. Its segments include High-Performance Computing (HPC) and RF Heating. The HPC segment sells proprietary high-performance computing software and related consulting services and training programs to the oil and gas industry. The RF Heating segment is engaged in research, development, and commercialization activities related to advanced electromagnetic heating using radio frequency (RF) energy. It is piloting RF XL, its patented low-cost, low-carbon EM thermal production technology for heavy oil and oil sands. It is also working with a consortium of potash partners on a pilot project using its patented and field proven Clean Tech Inverter (CTI) to decarbonize drying of potash ore and other minerals. It is actively developing partnerships for EM heating of other industrial applications in mining, steel, agriculture, cement, hydrogen and other clean fuels.

TSXV:AXE - Post by User

Acceleware Ltd > HUGE: AXE RECEIVED $2,064,434 Of $ 3 Million CRIN FUNDING

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Post by ztransforms173on Mar 21, 2024 9:39pm

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Post# 35946243

HUGE: AXE RECEIVED $2,064,434 Of $ 3 Million CRIN FUNDING

On Nov. 6, 2023, Acceleware announced non-dilutive, non-repayable funding from the Clean Resource Innovation Network (CRIN) of up to $3-million for the RF XL pilot. The funding is paid upon completion of certain milestones and is reimbursement for costs incurred between Jan. 1, 2022, and March 31, 2024. This funding is intended to accelerate clean technology development and commercialization for the oil and gas industry. There was $2,064,434 received in Q4 2023.

https://www.stockwatch.com/News/Item/Z-C!AXE-3527287/C/AXE

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z173

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