Acceleware Ltd (TSE:AXE) has released an update.
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Acceleware Ltd. has announced an update on its Marwayne, Alberta RF XL pilot project, focusing on decarbonizing industrial heating. After encountering subsurface challenges, the company has developed a plan to resume testing with an improved system, seeking an additional $5 million for redeployment. The pilot has already demonstrated significant milestones, including a high-performance multilateral heating well, increased oil production, and effective operation of its Clean Tech Inverter.
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