CVW CleanTech has developed and patented innovative technologies to recover valuable commodities (bitumen, solvent, heavy minerals and water) from oil sands waste tailings. The benefits are twofold: recovery of valuable commodities that will provide economic value; and environmental benefits which will reduce the environmental impacts of the oil sands industry. The Corporation is working with industry and government to commercialize its CWW™ suite of technologies following the successful conclusion of multi-year demonstration pilots and a multi-million dollar Front-end Engineering Design (FEED) study.
With the growth in Canada's oil sands sector, there is an increased focus on sustainable development. There are currently five large oil sands mining projects in operation - Syncrude, Suncor’s Millenium and Fort Hills facilities, Canadian Natural Resources Limited’s Horizon and Albian Sands facilities and, and Imperial Oil’s Kearl Lake facility. As mine-based oil sands production grows, tailings volumes containing minerals, bitumen and solvents are expected to increase proportionally.
For CVW CleanTech, processing waste tailings will result in several benefits to stakeholders. These include incremental revenues for recovered commodities, reductions in GHG and methane emissions, maximized use of existing natural resources and achieve business and economic diversification for Alberta.
The Corporation's common shares are listed on the Toronto Venture Stock Exchange (TSX.V: CVW).