Acceleware CEO Geoff Clark talks to Cantech Letter

Calgary-based Acceleware (Acceleware Stock Quote, Chart, News, Analysts, Financials TSXV:AXE) is advancing the electrification of Canada’s oil and gas industry through its all-electric heating technology, CEO Geoff Clark says

Speaking with Ticker Take host Jon Erlichman at the 2025 Cantech Investment Conference in Toronto on Oct. 9, Clark said the company’s radio-frequency platform is “the marriage between innovation and oil and gas,” offering a cleaner, more economical method of producing heavy oil.

“We’re an all-electric industrial heating platform company,” Clark said. “What we’ve done is apply that technology to getting heavy oil out of the ground where previously it wasn’t economic to do so.”

GEOFF CLARK OF ACCELEWARE TALKS TO JON ERLICHMAN AT CANTECH 25

Founded in 2004, Acceleware began developing the RF XL process in partnership with Chevron Corp. as an environmental alternative to steam-based extraction. The company patented the technology, ran its first commercial-scale pilot near Lloydminster, Alberta in 2022, and is preparing a second pilot that could take place in either Alberta or Saskatchewan next year.

Clark said the pilot’s success has drawn interest beyond oil and gas.

“When we were operating near Lethbridge, a number of potash miners came to see the project,” he said. “They asked if we could apply the technology to potash drying. We’ve been able to electrify that process, reduce costs, and even increase production.”

Clark said Acceleware’s priority is to advance its heavy-oil pilot into active production while developing prototypes for potash and other critical-minerals applications.

“By the end of next year, we hope to be producing oil from that pilot,” he said.

Acceleware develops clean-tech energy and computing solutions through two divisions: Radio Frequency Enhanced Oil Recovery and Seismic Imaging Software. Its software division provides high-performance imaging tools for subsurface exploration and industrial design, part of a broader industry shift toward parallel processing and GPU-based computation used across sectors from energy and medical imaging to product design and academic research.

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