August 10, 2018 - 1:15 PM EDT
Print Email Article Font Down Font Up Charts


Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF), a Tech Company Focused on Extracting Bitumen from Oil Sands, Plans to Uplist

  • Asphalt Ridge processing and extraction facility debuts
  • Cost-effective technology set to unlock 87 million BOE
  • Formal application submitted to Nasdaq

There are oil and gas companies and there are tech companies, and, while Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) may be a bit of both, this is a corporation focused more on the high-margin commercialization of its licensing technology than its oil commodities business. The company has developed an environmentally safe, continuous flow, closed loop technology – the first in North America and probably the world – that is capable of extracting bitumen from oil sands. It recently commissioned a processing and extraction plant at Asphalt Ridge in the Uintah Basin of Utah that will, initially, have the capacity to produce 1,000 barrels per day of bitumen. Although it will generate cash flow from the endeavor, Petroteq expects to get the bulk of its future revenues from licensing its innovative oil sands technology.

The Petroteq technology is the result of almost five years of scholarship by the company’s research and engineering teams, led by its chief technology officer, Dr. Vladimir Podlipskiy. It’s technology that’s safe for the environment, depending on a…

Read more »

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]


Source: NetworkNewsWire (August 10, 2018 - 1:15 PM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice