HTC Purenergy Inc. launches EHR Enhanced Hydrocarbon Recovery Inc. to focus on CO2 enhanced oil and gas recovery.
Regina, Saskatchewan – June 1st , 2010 - HTC Purenergy (“HTC”) (TSX-V: HTC), Canada’s National Champion of Carbon Capture & Storage (“CCS”) technology, today announced the launch of its new wholly owned subsidiary company – EHR Enhanced Hydrocarbon Recovery Inc. (“EHR”). EHR is a Canadian based engineering and technology services firm that specializes in CO2 enhanced oil and gas recovery in North American and global markets.
HTC Purenergy has been actively involved in the commercialization of Carbon Capture & Storage (“CCS”) Technology for Enhanced Oil Recovery (“EOR”) and geological storage for a number of years, initially focusing on carbon capture and storage. Since creation HTC has assembled a strategic engineering team to develop large scale commercial CO2 EOR based projects. The resulting expertise, cutting edge technologies and research capabilities has immediate commercial applications for the oil and gas industry. This team has grown into the new wholly owned subsidiary – EHR Enhanced Hydrocarbon Recovery Inc., mandated to bring this expertise and innovation to this industry segment. EHR is charged with providing tomorrows technology today.
Lionel Kambeitz, Chairman and Chief Executive Officer of HTC Purenergy, commented “In North America, it is estimated that over 45 billion barrels of proven oil reserves will be available for production through the application of innovative CO2 enhanced oil recovery techniques. HTC and EHR will participate directly in revenue from increased oil production through participation in supplying the CO2, project equity participation and joint venture arrangements.”
EHR’s mandate is to develop environmentally sustainable and technically innovative processes for improving oil recovery from various hydrocarbon reservoirs. EHR will focus on the rapidly expanding enhanced oil and gas recovery market utilizing CO2. EHR provides extensive experience in the development of large EOR based projects including CO2 enhanced oil recovery, polymer flooding, chemical flooding, enhanced coal bed methane (ECBM) and Expanded Solvent Steam Assisted Gravity Drainage (ES-SAGD) operations. For more information see www.hydrocarbonrecovery.com
About HTC Purenergy:
HTC Purenergy Inc. (HTC: TSX-V) is a publicly traded energy technology company that is commercializing Carbon Capture and Carbon Management Technologies for power generation, fuel processing and other industrial CO2 emitter facilities. The captured CO2 will then be utilized for the development of enhanced oil recovery projects. HTC’s strategic partner Doosan Power Systems continues to grow and expand capabilities and global market reach utilizing HTC’s CO2 technologies.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
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HTC Purenergy corporate developments can be followed on www.htcenergy.com and is traded under the symbol HTC.
