MGX Minerals Announces Patent Acceptance for Low Cost Combined Heat and Power Cogeneration (CHP) for Heavy Oil and Oilsands Producers
MGX Minerals (CSE:XMG/ FKT:1MG / OTCQB:MGXMF) (“MGX” or the “Company”) and engineering subsidiary PurLucid Treatment Solutions Inc. (“PurLucid”) are pleased to announce they have received notice of publication of its patent for a new method to produce boiler feed water using low energy water treatment.
MGX Minerals (CSE:XMG/ FKT:1MG / OTCQB:MGXMF) (“MGX” or the “Company”) and engineering subsidiary PurLucid Treatment Solutions Inc. (“PurLucid”) are pleased to announce they have received notice of publication of its patent for a new method to produce boiler feed water using low energy water treatment. The technology will facilitate using poor quality water to tri-generate electricity, pure water and minerals. The system was designed within a consortium, including MGX, PurLucid and David Bromley Engineering Ltd for the generation of electricity and excess steam for thermal oil recovery and extraction of lithium, vanadium and other minerals. The design, utilizing highly charged Replaceable Skin Layer (RSL™) membranes as a replacement for softening and ultrafiltration, substantively reduced cost and energy requirements while providing electricity for sale or internal use.
The patent filing outlines the proprietary method with example applications. When applied to heavy oil production in Alberta, the system can reduce the greenhouse gas emissions from 2.45 tpd/bbl capacity (0.48 tonnes / m3 of produced oil) to 1.19 tpd/bbl capacity (0.11 to 0.15 tonnes / m3 of produced oil). This reduces the energy requirement and associated GHG intensity by over 70%, making it similar to conventional oil recovery in other areas. In addition, because the capital used has revenue from both electricity and oil production, the cost of electricity production is comparable to the lower 25% of the market cost in North America and the cost of heavy oil production becomes similar to costs to produce light crude oil in the middle east.
MGX leads a consortium of power production, engineering and high-power demand clients evaluating opportunities for large-scale, low-cost power production.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards held in London in May (see press release dated May 18, 2018). The Company has also been selected as a finalist for the 2018 S&P Global Platts Global Energy Awards- Emerging Technology and Rising Star- to be held in New York City in December. For more information on the event visit https://geaweb.platts.com/Finalists/Finalists2018.
PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com. MGX has the right to acquire up to a 100% interest in PurLucid through successive investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ae9cfbb0-318d-435e-abd5-a90c1aee4438
President and CEO