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Vorsana Environmental Inc. (Vorsana), a clean technology company, announced today the acquisition of NanosTech.
FOR IMMEDIATE RELEASE
Calgary, Alberta – April 12th, 2021 – Vorsana Environmental Inc. (Vorsana), a clean technology company, announced today the acquisition of NanosTech, a leader in developing nano-catalyst-based technologies for emerging clean energy markets.
The acquisition strengthens Vorsana’s existing technology portfolio, and with NanosTech’s In-situ upgrading technology (ISUT), it will help ensure Canada exceeds its 2030 emission reduction targets. Along with Vorsana’s waste-to-biofuel and carbon capture technologies, it accelerates the path to creating a one-of-a-kind Catalytic-based Innovation Hub.
Speaking on the announcement, Myles McGovern, CEO of Vorsana, said the acquisition of NanosTech, headed by Professor Pedro Pereira-Almao and a world-renowned research team from the University of Calgary (U of C), will create a strong entity dedicated to making the Canadian energy industry a global leader and the industrial sectors more environmentally sustainable.
“We are very pleased to have NanosTech as part of the Vorsana team. Pedro and the team have done a remarkable job developing disruptive technologies that can have a significant impact in reducing emissions while making a positive contribution to the bottom lines of the companies adopting these technologies.”
“We are not giving up on Canadian oil; the oilsands need to be competitive, we have the technology to significantly reduce GHG emissions, increase pipeline capacity and not compromise the environment.”
“We have been waiting to partner with an exceptional group of leaders like those at Vorsana,” said Prof. Pereira-Almao. “We have spent years developing our technologies and researching solutions that solve problems for the energy industry.”
The disruptive in-situ oil extraction method reduces GHG emissions by 35% in existing Steam-Assisted-Gravity-Drainage (SAGD) installations while increasing the net present value and recovery factor of the activity. It increases the oil API, eliminating the requirement for diluent.
“At scale, the NanosTech ISUT process will take the equivalent of millions of cars off the road each year by reducing the emissions of the oilsands and will be a game-changer for the Canadian oilsands,” said Vorsana’s McGovern.
Vorsana has already developed a proprietary waste to fuel process capable of converting waste materials such as garbage, hard to recycle plastics and biomass into a cost-effective drop-in fuel capable of significantly reducing emissions within the transportation industry. With NanosTech, Vorsana will leverage its modular mini-refining process to substantially improve the renewable fuels it produces.
As part of Vorsana, NanosTech is well-positioned to accelerate and extend its mission to help innovators in the energy and cleantech industries by leveraging their decades of experience in nano-catalysis research and development through its Calgary-based Innovation Hub.
MEDIA CONTACT
Naomi Pereira
Executive Vice President
403.680.5712
naomi@nanos.tech
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