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Acceleware wins $2M grant to deploy RF XL 2.0 tech for heavy oil production in Canada

Company Fundamentals
10 Jun 2026
Newsfile Corp
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Bullish
pluang ai news

Acceleware Ltd. has been awarded up to $2 million in non-dilutive grant funding from the Clean Resource Innovation Network to support the deployment of its RF XL 2.0 technology in a heavy oil reservoir in Saskatchewan. This project aims to demonstrate that RF XL 2.0 can economically heat heavy oil reservoirs to unlock bypassed resources and increase production, offering a low-emission alternative to conventional methods. The funding, provided by Canada's Strategic Innovation Fund, will cover eligible costs from January 2026 to September 2027. This initiative builds on previous successful deployments and could significantly impact Canada's energy future by making previously uneconomical heavy oil reserves viable.

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