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PROFILE
Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies with extraordinary market potential. Rival has filed several provisional patents and patent applications and is focused on licensing its technology for industry use. Rival Technologies. Inc. is the parent Company of TRU Oiltech Inc. which has been developed to research alternative systems and heavy oil upgrading technology to enhance the process of moving oil sands bitumen to processing plants.
TRU Oiltech is expected to provide substantial per barrel cost savings over existing methods. Oil producers transfer millions of barrels per day of heavy crude to refiners. This very large market potential makes TRU Oiltech an exciting new venture.
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Rival has an aggressive growth strategy based on investing in emerging technologies with extraordinary market potential.
Rival Technologies Inc. is comprised of a seasoned group of individuals with extensive experience in chemical engineering, economics, project management and marketing.
Rival is currently transitioning the TRU process technology from the lab to pilot plant stage. This revolutionary, primary upgrading process is designed to vastly improve the quality and economic value of heavy crude oil.
Worldwide, an ever increasing proportion of crude oil discoveries are being classified as medium, heavy, or ‘sour’ (higher sulfur content). A lower economic value is assigned to crude oils with these classifications. Rival's technology is designed to not only improve the overall quality of heavy crude oil and heavy crude oil fractions, but do it in a cost effective manner. Successful commercialization of the technology can be expected to produce significant economic benefits to the oil producers in these markets.
Such heavy oil feedstocks introduced to the TRU process are actually ‘cracked’ during the process, reducing the density, viscosity, acidity, metals and sulphur content, nitrogen and pour point, through modification of the molecular structure in Rival's proprietary ‘non-coking’ Thermal Cracker.
The process is very cost effective and delivers an ultra-high yield, pipeline grade, premium synthetic crude oil branded TRULITE(R). The TRU process is now available for continuous feed pilot testing by heavy oil producers and refiners.
In the current economic climate, significantly lower capital expenditures for construction of the TRU(TM) process provide an economically attractive solution for primary upgrading in the field and a significant improvement to the bottom line of SAGD projects. In addition, the process delivers a premium grade, low metals, synthetic crude oil, beneficial to both the SAGD producer's project economics and to downstream refiners.
Worldwide, oil sand and heavy oil resources are massive. In Canada alone producers have a total reserve of 1.3 trillion barrels of heavy oil that will need to be developed over the next 40 years. Before moving from the field to the refinery the resource will need to be upgraded. These producers represent the prime market for TRU(TM) process technology.
Rival expects the TRU process to become the new industry standard for primary upgrading of heavy crude oil.
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