NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 07/10/2018 5:16:40 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Enters Licensing Agreement with Cavitation Technologies, Inc. (OTCQB: CVAT) (Berlin: WDC)
Fully integrated oil and gas company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) this morning announced that it has entered into a licensing agreement with Cavitation Technologies, Inc. (OTCQB: CVAT) (Berlin: WDC) (“CTi”) to test its equipment during oil production for workflow efficiencies and to lower its cost of production obtained through Petroteq’s oil sands extraction process. The companies aim to generate a modification of non-conventional oil, in the form of bitumen, obtained through oil sands. CTi’s Nano Reactor System™ employs proprietary technology that can influence and alter the chemical and physical composition of certain crude oils and hydrocarbon substances in a way that could improve the yield and economic value of refined or processed oils and related hydrocarbon products. CTi’s Nano Reactor System™ will combine bitumen extracted by Petroteq with a catalyst to create a fluidic crude oil. “We are excited to be partnering with CTi. With our recent upgraded facility site, we are now exploring opportunities to make our products more cost-effective and efficient. We feel that it is important to engage on the innovation of our R&D with other compelling technologies that have the potential of generating scalable solutions within the industry,” Petroteq CEO David Sealock stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Fully integrated oil and gas company Petroteq Energy (TSX.V: PQE) (OTCQX: PQEFF) this morning announced that it has entered into a licensing agreement with Cavitation Technologies, Inc. (OTCQB: CVAT) (Berlin: WDC) (“CTi”) to test its equipment during oil production for workflow efficiencies and to lower its cost of production obtained through Petroteq’s oil sands extraction process. The companies aim to generate a modification of non-conventional oil, in the form of bitumen, obtained through oil sands. CTi’s Nano Reactor System™ employs proprietary technology that can influence and alter the chemical and physical composition of certain crude oils and hydrocarbon substances in a way that could improve the yield and economic value of refined or processed oils and related hydrocarbon products. CTi’s Nano Reactor System™ will combine bitumen extracted by Petroteq with a catalyst to create a fluidic crude oil. “We are excited to be partnering with CTi. With our recent upgraded facility site, we are now exploring opportunities to make our products more cost-effective and efficient. We feel that it is important to engage on the innovation of our R&D with other compelling technologies that have the potential of generating scalable solutions within the industry,” Petroteq CEO David Sealock stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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