We invested in developing a ground-breaking process for the simultaneous extraction and upgrading of oil from oil sand, oil shale and other particle-oil mixes in one operation, without the use of water or steam.
Epi-V provided the company with the funding and strategic input required to fully commercialise the technology and to increase understanding and awareness of the process in the global oil sands market.
Tarblaster's technology has the potential to make significant improvements to the efficiency and effectiveness of current refining processes
Background
Tarblaster was formed in 2006 by Olav Ellingsen, an entrepreneurial developer of innovative oil-recovery technologies with a distinguished 30-year track record.
In 1998 Ellingsen's Eureka Oil AS business received the Innovation Norway Technology Award for its electro acoustic oil reservoir stimulation technology, which can increase oil production by up to four times.
The investment
In the post-peak oil scenario the processing of bituminous material will play an increasingly important role in meeting the world's energy requirements.
In Canada's deposits alone there is estimated to be around 310 billion barrels of oil in accessible reserves, more than the 264 billion barrels contained in Saudi Arabia's entire reserve of conventional crude oil.
Epi-V has taken an 18 per cent stake in Tarblaster and will provide the company with the funding and strategic input required to fully commercialise and market its products.
The strategy
Epi-V has been working with Tarblaster to scale up its new technology and begin successfully commercialising it for the global oil sands market.
Outcomes
The technology is currently in trial stage and has generated widespread interest in the oil sands market due to its potential to make a significant contribution to improve the efficiency and effectiveness of current refining processes.
"By bringing on board Epi-V we've secured the backing of an investor with an acute understanding of how best to develop a business in order to maximise its potential in the global oil and gas market.
"There are considerable opportunities available for a technology which will drive significant efficiencies in the growing oil sands market and we are in an exciting period where our technology is approaching full commercialisation."
