Orcan Power (Orcan) has signed a Letter of Intent (LOI) with FutEra Energy Corp (FutEra) to collaborate on tasks throughout Canada. As a part of this collaboration, Orcan will present their know-how on modular warmth restoration options to make the most of the surplus warmth from FutEra’s geothermal tasks, notably in Western and Northern Canada, together with the repurposing of sub-economic oil and fuel wells and services.
Via the collaboration, FutEra additionally seeks so as to add waste warmth restoration to current oil and fuel property reminiscent of compressor stations.
Via this collaboration, Orcan will achieve entry to each massive oil and fuel refineries and a various pipeline of geothermal tasks throughout Canada, tapping into FutEra’s native experience and expertise. For the oil and fuel sector, including waste warmth restoration to current property will generate emission-free electrical energy from waste warmth and considerably enhance their total effectivity.
For the geothermal scope, the main focus might be on maximizing the vitality effectivity of smaller and mid-sized geothermal tasks. Orcan’s know-how in modular waste warmth restoration options matches effectively with FutEra’s mission of creating geothermal and waste warmth tasks..
In early 2023, FutEra introduced the beginning of operations of Canada’s first co-produced pure fuel and geothermal energy challenge in Swan Hills, Alberta. A number of months later, the bulk stake of FutEra was transferred from Razor Power Corp. to the Alberta Funding Administration Company (AIMCo).
Orcan’s waste warmth restoration expertise turns warmth into clear electrical energy. Making use of this modular expertise won’t solely enhance the operational effectivity of oil and fuel property and geothermal tasks but in addition considerably scale back CO? emissions, serving to Canada’s vitality sector transition in direction of a extra sustainable and numerous vitality business.
Orcan has already confirmed the reliability and effectivity of their modules with implementations at compressor stations and geothermal tasks, amongst others.
