While Canada’s petrochemical sector is unlikely to see an economic boom paralleling that of the late 20th century, the sector is far from done. Current trends show that the global energy consumption rate will increase upwards of 50% by 2050 and global oil consumption will still be hovering around 24 million barrels per day. Although the further integration of renewables such as hydrogen fuel, solar power, and biofuel will contribute to this surge, petroleum-based products will still have their place in the global economy.
Clearly, the transition to renewables will be an evolution characterized by gradual adaptations of current technology rather than a revolution to novel energy systems. We must develop ways to ensure that our production of fossil fuels is as clean and efficient as possible, while innovating toward the clean fuels of the future.
Existing technology will pave the way for clean-tech innovation.
As an energy transition company, NanosTech understands the two-pronged approach needed to evolve this hallmark sector of the Canadian economy. Together with parent company Vorsana, we’re exploring novel ways to adapt standardized processes (like SAGD) while investing in new technologies (such as biomass-derived biofuels) to meet global energy demands sustainably.
Taking this approach, we’ve created a portfolio of technologies primed to disrupt Canada’s energy sector. Our In Situ Upgrading Technology (ISUT) technology helps producers extract more, better quality oil - faster, more economically, and with reduced emissions. ISUT is refining technology, converts oils of any origin - including pyrolysis oils (like renewables and waste), extra-heavy oils and bitumen - into top-quality fuels. This technology bridges today’s needs and tomorrow’s possibilities, saving industry stakeholders time and money.
In our commitment to gradually evolving the field instead of reinventing it, we’re building off a century’s worth of success in this space and leveraging the talents and experience of the 800K highly qualified personnel working in the Canadian oil and gas sector while creating new jobs for the next generation of energy workers.
