CALGARY, Alberta, March 24, 2023 (GLOBE NEWSWIRE) -- Acceleware Ltd. ("Acceleware" or the "Company") (TSX-V: AXE), a leading innovator of transformative technologies targeting the decarbonization of industrial heating, today announced its financial and operating results for the year ended December 31, 2022 (all figures are in Canadian dollars unless otherwise noted). Acceleware's year end results reflect contributions from the Company's two business units, radio frequency ("RF") heating for industrial applications using the Company's proprietary Clean Tech Inverter ("CTI") including enhanced oil recovery ("RF XL"), and high-performance computing ("HPC") scientific software. This news release should be read in conjunction with the Company's audited financial statements and the accompanying notes for the year ended December 31, 2022 and management's discussion and analysis ("MDA") thereto, all of which are available on Acceleware's website at or on SEDAR at .
HIGHLIGHTS
The Company continues to make progress on the pilot test of RF heating technology at Marwayne, Alberta (the "RF XL Pilot"), and based on observations to date, remains confident that RF XL will become viable as a critical technology in the effort to decarbonize heavy oil and oil sands production. Initial data analysis, backed up with subsequent "history-matching" simulations and further analyses provide strong evidence that the operation of the RF XL Pilot in 2022 resulted in sustained RF heating of the formation around the heating well prior to a pause in operations for a maintenance workover. The final timing and cost of the fibre optic distributed temperature sensing ("DTS") system workover remains dependent on availability of service rigs, weather conditions at site, supply chain availability, delivery timing, and the successful deployment of repairs and components. Please refer to the RF XL Pilot Update section below for more information, and to the MDA for a complete RF XL Pilot update.
Financial highlights for the three and twelve months ended December 31, 2022:
| | Three Months Ended | Twelve Months Ended |
| $ | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2021 |
| Revenue | 73,056 | 87,031 | 328,293 | 752,770 |
| Comprehensive loss | 1,345,913 | 1,755,118 | 5,142,168 | 4,079,593 |
| Gross R&D expenditures | 1,219,553 | 5,192,884 | 5,674,180 | 12,614,554 |
| Deferred revenue increase | 200,000 | 400,000 | 1,300,000 | 2,300,000 |
The Company had cash on hand of $1.1 million (December 31, 2021 - $1.9 million), up to $1.4 million (December 31, 2021 - $2.8 million) of amounts committed but not yet received or receivable from three major oil-sands producers, and negative working capital, excluding cash, of $1.8 million (December 31, 2021 - $2.9 million). The Company actively manages its cash flow requirements with a combination of cash generated from operations, external funding, and capital raising activities.
In addition, recent highlights during the three months ended December 31, 2022 included:
- On February 22, 2023, Acceleware and Aurora Hydrogen announced the award of $2 million from Alberta Innovates to Aurora Hydrogen for a collaborative project. The $5.5 million joint development will work to develop a new method of methane pyrolysis, utilizing RF energy from Acceleware's CTI to heat Aurora's unique reactor.
- In December 2022, Alberta Innovates committed an additional $0.9 million funding for the RF XL Pilot.
- On November 10, 2022, the Company closed a private placement of 6.7 million units, consisting of one common share and one common share purchase warrant, for gross proceeds of $1.8 million.
There are 13 patents granted or allowed to protect various proprietary technologies related to Acceleware's intellectual property ("IP"), and 31 patent applications pending or under development. The Company uses an integrated strategy for IP protection involving a combination of patenting and trade secrets, working closely with the patent offices and intellectual property advisors.
RF XL PROJECT UPDATE
During the DTS workover planning, the Company scaled back heating and continued to produce oil. When the workover activities commenced at site, RF power was reduced to zero, and oil production was paused. During October and November of 2022, the DTS and certain downhole components were removed. In December, the remaining portion of the DTS was successfully "fished" and in-well inspection was performed. When the severed DTS was removed it was determined that replacement was required. Upon inspection of the extracted subsurface components of the RF XL transmission line, management implemented an upgrade and modification program intended to improve the performance of the RF XL heating system at high RF power and high temperature. Replacement components have been received, quality control tested for electrical and mechanical specifications and are currently ready for installation underground.
During in-well inspection of the non-removable RF XL transmission line components, the operations team identified subsurface components that required repairs. After analysis by the operations team, service provider partners, and operating partners, management decided to move forward with a solution that is expected to be completed in Q2 2023. While downhole operations carry a degree of risk, Acceleware has worked to mitigate that risk by developing a repair plan using standard downhole repair technologies and selecting proven service providers to ensure the best opportunity for success. Upon successful completion of these final workover steps, RF XL components and DTS will be reassembled, and heating operations will resume. Acceleware will implement the workover steps in a staged process whereby the initial stage would result in approximately 50 percent of maximum power being available, performance assessed, and the second stage will then be implemented to achieve full power.
Upgrades to the RF XL heating system successfully completed as part of the workover included:
- RF energy transmission system design improvements – leading to better electrical performance and higher tolerance for adverse downhole conditions; and
- CTI operation and control software enhancements – improving the resilience and performance of the CTI.
Learnings from pilot operations and the workover are expected to result in additional intellectual property that will further refine the RF XL system including version 2.0 designs for the CTI and the downhole system that will improve future deployability, performance, and economics.
The final timing and cost of the workover remains dependent on availability of service rigs, weather conditions at site, supply chain availability, delivery timing, and the successful deployment of repairs and components.
FINANCIAL SUMMARY
Gross R&D spending in 2022 was significantly lower than 2021 as construction of the RF XL Pilot was completed in early March 2022, followed by operations which continued through the year. Operation of the RF XL Pilot has a much lower cost than installation and construction which occurred for most of 2021. Operational spending in 2022 included some workover costs incurred late in the year. Cumulative RF XL Pilot expenses as at December 31, 2022 were approximately $25.9 million (December 31, 2021 - $20.4 million). The remaining cash committed but not yet received from SDTC, ERA and Alberta Innovates, including holdbacks receivable was $1.0 million as at December 31, 2022 (December 31, 2021 – $2.9 million) and amounts committed but not yet received or receivable from three major oil-sands producers were $1.4 million as at December 31, 2022 (December 31, 2021 – $2.8 million).
QUARTER IN REVIEW
Revenue generated in the three months ended December 31, 2022 ("Q4 2022") compared to the three months ended December 31, 2021 ("Q4 2021") and compared to the previous quarter ended September 30, 2022 ("Q3 2022") was primarily generated from maintenance and services revenue. Software revenue was lower due to less demand for FDTD and seismic software. Acceleware received non-refundable milestone cash payments for the RF XL Pilot of $0.2 million in Q4 2022 compared to $0.4 million in Q4 2021 and $nil in Q3 2022, all of which were recorded in deferred revenue. Data revenue equal to the amount recorded in deferred revenue will be recognized as revenue at the end of the RF XL Pilot or when the data contracts are terminated, whichever is earlier.
Comprehensive loss in 2022 was impacted by an unrealized gain on derivative financial instruments embedded within the convertible debenture. These fluctuations are driven primarily by the fluctuation in the Company's share price. Additionally, research and development ("R&D") expenses and government assistance were lower in 2022 compared to 2021 due to less expenditures required for heating operations of the RF XL Pilot.
R&D spending was lower in Q4 2022 compared to Q4 2021 as a result of lower costs for operating the RF XL Pilot compared to the costs incurred for drilling, completion and construction but were higher than Q3 2022 due to expenditures incurred for the workover. The RF XL Pilot began operations in March 2022 and incurred additional costs in Q2 2022 for initialization but then experienced lower and more consistent costs in Q3 2022. Government assistance typically reduces R&D expenses; however, all government assistance had been fully recognized at the end of Q2 2022. An additional $0.9 million of government assistance was received and recognized in Q4 2022 related to the workover.
General and administrative ("G&A") expenses incurred in Q4 2022 were $0.6 million compared to $0.5 million in Q4 2021 and $0.5 million in Q3 2022. Additional legal and professional fees were incurred in connection with the equity offering and were recorded in Q4 2022. Additionally, non-cash payroll related costs were higher in Q4 2022 and Q3 2022 compared to Q4 2021 due to the timing of option grants. The Company continues to prioritize cost control given uncertain economic conditions.
YEAR IN REVIEW
The lower revenue in the year ended December 31, 2022 compared to the year ended December 31, 2021 is due to lower demand for software and maintenance in the HPC segment. In addition to recognized revenue, Acceleware also received non-refundable milestone cash payments for the RF XL Pilot of $1.3 million for the year ended December 31, 2022 compared to $2.3 million for the year ended December 31, 2021 which are recorded in deferred revenue. Data revenue equal to the amount recorded in deferred revenue will be recognized in income at the end of the RF XL Pilot or when the data contracts are terminated, whichever is earlier. Total deferred revenue recorded on the statement of financial position as at December 31, 2022 is $4.4 million (December 31, 2021 – $3.1 million).
Total comprehensive loss for the year ended December 31, 2022 was higher in 2022 primarily due to less government assistance recognized in 2022 for heating operations of the RF XL Pilot, and less revenue.
Gross R&D expenses for the year ended December 31, 2022 were lower than 2021 because of lower costs for operating the RF XL Pilot compared to the costs incurred for drilling, completion, and construction. Well drilling and completion work began in August 2021 and was finished in Q1 2022. Federal and provincial government assistance recognized in the year ended December 31, 2022 was lower compared to the year ended December 31, 2021 due to the RF XL Pilot commencing operations.
G&A expenses incurred during the year ended December 31, 2022 were higher due primarily to legal and professional fees for the convertible debenture and equity offering and higher non-cash payroll related costs including option grants. The Company continues to prioritize cost management.
As at December 31, 2022, Acceleware had negative working capital of $0.6 million (December 31, 2021 – negative working capital of $0.9 million) including cash and cash equivalents of $1.1 million (December 31, 2021 – $1.9 million). The increase in working capital is attributable to the timing of receipt and recognition of government and partner funding. In addition to receivables for government assistance, there is $1.4 million of industry partner funding still committed and not yet received. Increasing the deficit is deferred revenue of $4.4 million as at December 31, 2022 (December 31, 2021 – $3.1 million).
ABOUT ACCELEWARE:
Acceleware () is an innovator of clean-tech decarbonization technologies comprised of two business units: Radio Frequency (RF) Heating Technology and Seismic Imaging Software.
Acceleware is piloting RF XL, its patented low-cost, low-carbon production technology for heavy oil and oil sands that is materially different from any heavy oil recovery technique used today. Acceleware's vision is that electrification of heavy oil and oil sands production can be made possible through RF XL, supporting a transition to much cleaner energy production that can quickly bend the emissions curve downward. With clean electricity, Acceleware's RF XL technology could eliminate greenhouse gas (GHG) emissions associated with heavy oil and oil sands production. RF XL uses no water, requires no solvent, has a small physical footprint, can be redeployed from site to site, and can be applied to a multitude of reservoir types. Acceleware is also actively developing partnerships for RF heating of other industrial applications using the Company's proprietary CTI.
Acceleware and Saa Dene Group (co-founded by Jim Boucher) have created Acceleware | Kisâstwêw to raise the profile, adoption, and value of Acceleware technologies. The shared vision of the partnership is to improve the environmental and economic performance of the energy sector by supporting ideals that are important to Indigenous peoples, including respect for land, water, and clean air.
The Company's seismic imaging software solutions are state-of-the-art for high fidelity imaging, providing the most accurate and advanced imaging available for oil exploration in complex geologies. Acceleware is a public company listed on Canada's TSX Venture Exchange under the trading symbol "AXE".
NOTE REGARDING FORWARD-LOOKING INFORMATION AND OTHER ADVISORIES
This news release contains "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information generally means information about an issuer's business, capital, or operations that are prospective in nature, and includes disclosure about the issuer's prospective financial performance or financial position.
The forward-looking information in this press release can be identified by terms such as "believes", "estimates", "plans", "potential", and "will", and includes information about, the expected commercialization of RF XL, the expected cost of the RF XL Pilot, the amount of, and realized price for the oil produced at the RF XL Pilot, the timing of the execution of the RF XL Pilot, and the anticipated economic and societal benefits of the RF XL technology. Acceleware assumes that current cost estimates are accurate, simulations of oil production at the RF XL Pilot are accurate, the price realized for oil produced at the pilot remain at or near current levels, current timelines will not be delayed by either internal or external causes, that research and development effort including the commercial-scale test plans will result in commercial-ready products, and that future capital raising efforts will be successful.
Actual results may vary from the forward-looking information in this press release due to certain material risk factors. These risk factors are described in detail in Acceleware's continuous disclosure documents, which are filed on SEDAR at .
Acceleware assumes no obligation to update or revise the forward-looking information in this press release, unless it is required to do so under Canadian securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this release in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
DISCLAIMER
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information:
Geoff Clark
Tel: +1 (403) 249-9099
geoff.clark@acceleware.com
Acceleware Ltd.
435 10th Avenue SE
Calgary, AB, T2G 0W3
Canada
Tel: +1 (403) 249-9099
加拿大阿爾伯塔省卡爾加裡，2023年3月24日(Global Newswire)--致力於工業供暖脫碳的變革性技術領先創新者Acceleware Ltd.(以下簡稱“Acceleware”或“公司”)(多倫多證券交易所股票代碼：AXE)今天公佈了截至2022年12月31日的年度財務和經營業績(除非另有說明，所有數據均以加元表示)。Acceleware的年終業績反映了公司兩個業務部門的貢獻，即使用公司專有的Clean Tech Inverter(CTI)(包括增強採油(RF XL))和高性能計算(HPC)科學軟體用於工業應用的射頻(RF)加熱。本新聞稿應與公司截至2022年12月31日的年度經審計的財務報表和附註以及管理層對此的討論和分析(“MDA”)一併閱讀，所有這些內容均可在Acceleware的網站或SEDAR上查閱。
高光
本公司在艾伯塔省馬韋恩的射頻加熱技術試點測試(“RF XL試點”)方面繼續取得進展，並根據迄今的觀察，仍然相信RF XL將成為努力脫碳重油和油砂生產的關鍵技術。初步數據分析，以及隨後的“歷史匹配”類比和進一步分析提供了強有力的證據，證明2022年RF XL試點的運行在維護修井作業暫停之前很久就導致了加熱周圍地層的持續射頻加熱。光纖分佈式溫度傳感(“DTS”)系統修井的最終時間和成本仍取決於服務鑽機的可用性、現場的天氣狀況、供應鏈的可用性、交付時間以及維修和部件的成功部署。請參閱RF XL導頻更新下一節瞭解更多資訊，並與MDA聯繫以獲取完整的RF XL試點更新。
截至2022年12月31日的三個月和十二個月的財務摘要：
| 截至三個月 | 截至12個月 |
| $ | 2022年12月31日 | 2021年12月31日 | 2022年12月31日 | 2021年12月31日 |
| 收入 | 73,056 | 87,031 | 328,293 | 752,770 |
| 綜合損失 | 1345,913 | 1755,118 | 5,142,168 | 4079,593 |
| 研發總支出 | 1219,553 | 5,192,884 | 5674,180 | 12,614,554 |
| 遞延收入增長 | 200,000 | 400,000 | 130萬 | 2300,000 |
該公司手頭有110萬美元(2021年12月31日-190萬美元)的現金，高達140萬美元(2021年12月31日-280萬美元)的已承諾但尚未從三大油砂生產商收到或應收的金額，以及180萬美元(不包括現金)的負營運資金(2021年12月31日-290萬美元)。公司通過運營、外部資金和籌資活動產生的現金組合，積極管理其現金流需求。
此外，在截至2022年12月31日的三個月中，最近的亮點包括：
- 2023年2月22日，Acceleware和Aurora氫氣宣佈艾伯塔省Innovates向Aurora氫氣授予200萬美元的合作專案。這項耗資550萬美元的聯合開發將致力於開發一種新的甲烷熱解方法，利用Acceleware CTI的射頻能量來加熱Aurora獨特的反應堆。
- 2022年12月，Alberta Innovates承諾為RF XL試點專案額外提供90萬美元的資金。
- 2022年11月10日，該公司完成了670萬個單位的私募，其中包括一股普通股和一份普通股認購權證，總收益為180萬美元。
已授予或允許保護與Acceleware知識產權(“IP”)相關的各種專有技術的專利有13項，正在申請或正在開發中的專利申請有31項。該公司採用專利和商業祕密相結合的綜合知識產權保護戰略，與專利局和知識產權顧問密切合作。
RF XL專案更新
在DTS修井計劃期間，該公司縮減了供暖規模，並繼續生產石油。當現場開始修井活動時，射頻功率降至零，石油生產暫停。在2022年10月和11月期間，DTS和某些井下部件被拆除。12月，DTS的剩餘部分被成功地“打撈”，並進行了井下檢查。當被切斷的DTS被移除時，確定需要更換。在檢查提取的射頻XL傳輸線地下元件後，管理層實施了升級和改造計劃，旨在提高RF XL加熱系統在高射頻功率和高溫下的性能。更換部件已經收到，質量控制測試電氣和機械規格，目前已準備好安裝在地下。
在對不可拆卸的RF XL傳輸線部件進行井內檢查期間，運營團隊確定了需要維修的地下部件。經過運營團隊、服務提供商合作夥伴和運營合作夥伴的分析，管理層決定推進解決方案，該解決方案預計將於2023年第2季度完成。雖然井下作業存在一定程度的風險，但Acceleware一直致力於通過使用標準井下修復技術制定修復計劃並選擇經過驗證的服務提供商來降低這種風險，以確保獲得最佳成功機會。在這些最終修井步驟成功完成後，RF XL元件和DTS將重新組裝，加熱操作將恢復。Acceleware將分階段實施修復步驟，在此過程中，初始階段將產生大約50%的最大可用功率，並進行性能評估，然後將實施第二階段，以實現全部功率。
作為修井工作的一部分，對RF XL加熱系統的升級已成功完成，包括：
- 改進射頻能量傳輸系統的設計-提高電氣性能和對井下惡劣條件的容忍度；以及
- CTI操作和控制軟體增強-提高CTI的彈性和性能。
從試運行和修井中獲得的經驗預計將帶來額外的知識產權，這將進一步完善RF XL系統，包括CTI和井下系統的2.0版設計，這將改善未來的可部署性、性能和經濟性。
修井的最終時間和成本仍然取決於服務平臺的可用性、現場的天氣條件、供應鏈的可用性、交付時間以及維修和部件的成功部署。
財務摘要
2022年的總研發支出明顯低於2021年，因為RF XL試點專案的建設於2022年3月初完成，隨後全年繼續運營。與2021年大部分時間進行的安裝和施工相比，RF XL試點的運營成本要低得多。2022年的運營支出包括今年晚些時候發生的一些修井成本。截至2022年12月31日，RF XL試點累計費用約為2590萬美元(2021年12月31日至2040萬美元)。截至2022年12月31日(2021年12月31日-290萬美元)，已承諾但尚未從SDTC、ERA和Alberta Innovates收到的剩餘現金(包括應收預扣)為100萬美元，截至2022年12月31日(2021年12月31日-280萬美元)，已承諾但尚未從三大油砂生產商收到或應收的金額為140萬美元。
季度評估中
在截至2022年12月31日的三個月(“2022年第四季度”)與截至2021年12月31日的三個月(“2021年第四季度”)以及與截至2022年9月30日的上一季度(“2022年第三季度”)相比產生的收入主要來自維護和服務收入。由於對FDTD和地震軟體的需求減少，軟體收入較低。2022年第四季度，Acceleware收到的RF XL試點專案的不可退還里程碑現金付款為20萬美元，而2021年第四季度為40萬美元，2022年第三季度為零，所有這些都記錄在遞延收入中。與遞延收入中記錄的金額相等的數據收入將在RF XL試點結束或數據合同終止時(以較早者為準)確認為收入。
2022年的全面虧損受到可轉換債券內嵌的衍生金融工具的未實現收益的影響。這些波動主要是由公司股價的波動推動的。此外，與2021年相比，2022年的研發(R&D)費用和政府援助較低，這是由於RF XL試點專案供暖運營所需的支出減少。
2022年第4季度的研發支出低於2021年第4季度，原因是運營RF XL Pilot的成本低於鑽井、完工和施工成本，但由於修井支出高於2022年第3季度。RF XL試點於2022年3月開始運營，並在2022年第2季度產生了額外的初始化成本，但隨後在2022年第3季度經歷了更低且更穩定的成本。政府援助通常會減少研發費用；然而，所有政府援助在2022年第二季度末都已得到充分確認。2022年第四季度收到並確認了與修井有關的另外90萬美元的政府援助。
2022年第四季度產生的一般和行政(“G&A”)支出為60萬美元，而2021年第四季度和2022年第三季度分別為50萬美元和50萬美元。與股權發售有關的額外法律及專業費用已於2022年第四季度入賬。此外，由於期權授予的時間安排，2022年第四季度和2022年第三季度的非現金薪資相關成本高於2021年第四季度。鑑於不確定的經濟狀況，公司繼續優先考慮成本控制。
回顧的年份
截至2022年12月31日的年度收入低於截至2021年12月31日的年度，原因是高性能計算細分市場對軟體和維護的需求下降。除了確認的收入外，Acceleware還收到了截至2022年12月31日的年度RF XL試點專案不可退還的里程碑現金付款130萬美元，而截至2021年12月31日的年度為230萬美元，均記錄在遞延收入中。與遞延收入中記錄的金額相等的數據收入將在RF XL試點結束或數據合同終止時(以較早者為準)在收入中確認。截至2022年12月31日的財務狀況表上記錄的遞延收入總額為440萬美元(2021年12月31日-310萬美元)。
截至2022年12月31日的年度總綜合虧損高於2022年，主要是由於2022年確認的用於RF XL試點供暖運營的政府援助減少，以及收入減少。
截至2022年12月31日的年度總研發費用低於2021年，原因是運營RF XL Pilot的成本低於鑽井、完井和建設成本。鑽井和完井工作於2021年8月開始，2022年第一季度完成。由於RF XL試點開始運營，截至2022年12月31日的年度確認的聯盟和省政府援助低於截至2021年12月31日的年度。
在截至2022年12月31日的年度內發生的G&A費用較高，主要是由於可轉換債券和股票發行的法律和專業費用以及包括期權授予在內的非現金工資相關成本較高。公司繼續把成本管理放在首位。
截至2022年12月31日，Acceleware的營運資本為負60萬美元(2021年12月31日-負營運資本90萬美元)，包括現金和現金等價物110萬美元(2021年12月31日-190萬美元)。營運資本增加的原因是收到和確認政府和合作夥伴資金的時間安排。除了政府援助的應收賬款外，還有140萬美元的行業合作夥伴資金仍在承諾和尚未收到。增加赤字是截至2022年12月31日(2021年12月31日-310萬美元)的遞延收入440萬美元。
關於ACCELEWARE：
Acceleware()是清潔技術脫碳技術的創新者，由兩個業務部門組成：射頻加熱技術和地震成像軟體。
Acceleware正在試驗RF XL，這是其獲得專利的低成本、低碳開採重油和油砂的技術，與當今使用的任何重油開採技術都有很大不同。Acceleware的願景是，可以通過RF XL實現重油和油砂生產的電氣化，支持向更清潔的能源生產過渡，從而迅速將排放曲線向下彎曲。憑藉清潔電力，Acceleware的RF XL技術可以消除與重油和油砂生產相關的溫室氣體(GHG)排放。RF XL不使用水，不需要溶劑，佔地面積小，可以從一個地點重新部署到另一個地點，並且可以應用於多種類型的儲油罐。Acceleware還在積極發展合作夥伴關係，利用公司專有的CTI為其他工業應用提供射頻加熱。
Acceleware和Saa Dene集團(由Jim Boucher共同創立)創建了Acceleware|KISÂStwêw，以提高Acceleware技術的知名度、採用率和價值。夥伴關係的共同願景是通過支持對土著人民重要的理想，包括尊重土地、水和清潔空氣，改善能源部門的環境和經濟業績。
該公司的地震成像軟體解決方案是最先進的高保真成像，為複雜地質中的石油勘探提供了最準確和最先進的成像。Acceleware是一家在加拿大多倫多證券交易所創業板上市的上市公司，交易代碼為“AXE”。
關於前瞻性資訊和其他建議的說明
本新聞稿包含加拿大證券法所指的“前瞻性資訊”。前瞻性資訊通常是指有關發行人的業務、資本或經營的前瞻性資訊，包括披露發行人的預期財務業績或財務狀況。
本新聞稿中的前瞻性資訊可以用“相信”、“估計”、“計劃”、“潛在”和“將會”等術語來標識，包括有關RF XL的預期商業化、RF XL試點的預期成本、RF XL試點生產的石油的數量和實現價格、RF XL試點的實施時機以及RF XL技術的預期經濟和社會效益的資訊。Acceleware的假設是，當前的成本估計是準確的，RF XL試點的石油生產類比是準確的，試點生產的石油實現的價格保持在當前水準或接近當前水準，當前的時間表不會因內部或外部原因而延遲，包括商業規模測試計劃在內的研發工作將產生可用於商業的產品，並且未來的融資努力將取得成功。
由於某些重大風險因素，實際結果可能與本新聞稿中的前瞻性資訊有所不同。這些風險因素在Acceleware的持續披露檔案中有詳細描述，這些檔案已提交給SEDAR，網址為。
Acceleware不承擔更新或修改本新聞稿中的前瞻性資訊的義務，除非加拿大證券法要求它這樣做。
本新聞稿不構成在美國出售或邀請購買本新聞稿中所述任何證券的要約。這些證券沒有也不會根據修訂後的《1933年美國證券法》(以下簡稱《美國證券法》)或任何州證券法進行註冊，除非根據《美國證券法》和適用的州證券法進行註冊或獲得此類註冊豁免，否則不得在美國境內或向美國個人進行發行或銷售。
免責聲明
多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
有關詳細資訊，請參閱：
傑夫·克拉克
電話：+1(403)249-9099
郵箱：geoff.clark@acceleware.com
Acceleware Ltd.
435 10這是東南大道
卡爾加裡，AB，T2G 0W3
加拿大
電話：+1(403)249-9099
