ETX Systems

Press Release

Date: October 10, 2008

ETX Systems jumps green barrier

CALGARY, AB – ETX Systems was nominated for recognition under the prestigious Deloitte Technology Green 15 awards program.  The Technology Green 15 Awards are given out each year by Deloitte & Touche LLP, honouring companies that are helping to position Canada as a global leader in the development of commercially viable green technology.  Companies are judged based on the ability of the underlying technology to deliver both a significant environmental impact and compelling investment returns.

Results of the competition were announced at the end of September, and although ETX Systems was not successful, being nominated and considered for such a prestigous environmental award represents a significant shift in public perception, as Dr. Wayne Brown, Chief Technology Officer for the company explains.

"Although we were not successful in winning a Green 15 award this year, we are very pleased with the nomination, as it recognizes our technology as having environmental benefits.  Upgrading has always been viewed as a major contributor to the lifecycle impact of oil on the environment.  In fact this is not the case, as improvements in upgrading provide a significant lever to reduce the entire upstream scope that produces the barrel, and all of the associated carbon dioxide release.  You don't need a calculator to figure out that this benefit is sizeable, if you have seen the scale required to produce a barrel of bitumen from the oil sands."

The  IYQ UpgradingTM concept developed by ETX Systems claims increased yields of distillable liquids with an associated decrease in coke byproduct, per barrel of feed introduced into the unit.  The company also claims the liquids produced are of increased quality, meaning that they contain more hydrogen, and are more amenable for processing in conventional refineries.

"By introducing a technology that can produce more distillable liquids from a given barrel of feed, less feed is required.  Therefore, the bitumen producing plant can be made smaller.  In addition, better retention of hydrogen, and lower production of coke will similarly decrease the size and complexity of the downstream equipment required to deal with these issues.  The leveraging of upgrading is huge.", explains Dr. Brown.

"While increased product yields and qualities will have a big positive impact on the environment, achieving these benefits economically is not simple.  This is why the  IYQ Upgrading scheme has received so much attention and support, including that of the Alberta government."

"We have had extensive third party reviews of our development plans and our claims by reputable engineering firms, including Jacobs Consultancy out of Chicago.  We have been trying to get the message out that improved upgrader performance is good from all perspectives, including the environment.  With the nomination for the Deloitte Green 15 award, it looks like we have been successful."

And as for the the future?  Says Brown,

"Expect us back in the running next year!"

ETX Systems Inc. is a fit-for-purpose private entity based in Calgary, AB, whose sole mandate is to commercialize its patented IYQ Upgrading technology. The process claims to deliver revolutionary yields and qualities relative to delayed coking, for significantly less cost per barrel. The increased production of high quality liquids leads to reduced environmental impact, leveraged through both the upstream and downstream scope.  For more information contact Gerard Monaghan, CEO of ETX Systems Inc. (gerard.monaghan@etxsystems.com).

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