ETX Systems

Press Release

Date: March 14, 2012

ETX Systems Hits Development and Engineering Milestones

CALGARY, AB – ETX Systems announced that it has hit several significant milestones associated with its IYQ Upgrading technology.  The company was engaged in a number of key development projects aimed at crystallizing operating and design variables associated with a new proprietary reactor design.  In parallel, the front end engineering for its field pilot demonstration unit was progressed.  Both of these critical activities have been completed.

"We have been picking off technical issues for the past decade, based upon the priorities laid out in our development plan.", explains Wayne Brown, Chief Technology Officer for ETX Systems. "There is no universal testing platform for technology development.  Each project we undertook has been designed to address a suite of specific technical challenges.  We are now near the end of our technical journey."

ETX Systems engaged Hatch Ltd., a multi-national engineering company with specific expertise in fluidized processes, to assist in the development and engineering activities. Hatch was an integral part of the team entrusted with converting the IYQ Upgrading concept into a working piece of industrial equipment.

As important to ETX Systems is the intellectual property created as part of the development activities.  A number of patents based upon the results of the work are pending, while still more are in the pipeline.

The remaining development hurdle for the company is to test the design at near commercial scale.This platform is required to evaluate common hydrocarbon processing issues, such as fouling.

"FieldPilot testing is the accepted norm required byindustry for new technology.  It represents the final step to commercial declaration.", says Gerard Monaghan, CEO.  "Financing such an undertaking requires alignment of private and public sources.  Fortunately, we have madeexcellent progress in each of these areas. As a result, we have moved ahead and completed the front end engineering for this project.Our financing strategy should allow us to move ahead unimpeded."

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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