CVW CleanTech Welcomes Emissions Reduction Alberta's $50 Million Funding Competition for Tailings Pond Technologies
CVW CleanTech Welcomes Emissions
Reduction Alberta's $50 Million Funding
Competition for Tailings Pond Technologies
Calgary, Alberta--(Newsfile Corp. - June 18, 2025) -
CVW CleanTech Inc. (TSXV: CVW) (OTCQX:
CVWFF) (FSE: TMD0) (the "Company" or "CVW CleanTech")
today expresses support for
Emissions Reduction Alberta's ("ERA") announcement of a $50 million grant competition focused on
implementing technologies that help reduce and manage oil sands mine water ("OSMW") and tailings.
"This significant funding initiative demonstrates the Government of Alberta's commitment to
implementing innovative solutions that challenge the status quo and address the largest environmental
challenge of this essential industry," said Akshay Dubey, CEO of CVW CleanTech. "We commend the
Government of Alberta, the Honourable Rebecca Schulz, Minister of Environment and Protected Areas,
and the ERA executives for their leadership, and for providing the industry with a financial incentive to
implement best-in-class technology."
The ERA's Tailings Technology Challenge will provide up to $50 million to support the advancement of
technologies that make tailings and water treatment more effective and lower in cost, ensuring real-world
application and deployment. Successful applicants can receive up to $15 million per project, and larger
contributions will be considered on a case-by-case basis for projects involving multiple operators and
significant potential outcomes. Further details on the competition can be found at the following website:
ERA Announces $50 million competition for oil sands tailings remediation technologies
"Oil sands operators have a once-in-a-generation opportunity to reduce long-term costs and
environmental liabilities while generating significant economic benefits through the implementation of
proven tailings treatment technologies such as our own Creating Value from Waste™ ("CVW™"),"
continued Mr. Dubey. "The ERA's focused funding approach can help accelerate the adoption of
solutions that are ready for commercial deployment."
The Tailings Technology Challenge was announced promptly after the Oil Sands Mine Water Steering
Committee ("OSMWSC") released its first set of five initial recommendations. CVW CleanTech has
reviewed these and is encouraged by the positive impact that the CVW™ technology could have in
supporting the achievement of the OSMWSC's recommendations. CVW CleanTech is proud to have
contributed to the OSMWSC's study through multiple rounds of engagement.
Learn more about CVW CleanTech's water management capabilities
The Tailings Technology Challenge call for proposals emphasizes the importance of partnerships with
Indigenous communities and academic institutions.
CVW CleanTech is proud to partner with five First
Nation and Métis communities
. The implementation of our proprietary CVW™ technology can provide
these communities with the opportunity for true ownership and generational wealth creation. CVW
CleanTech is also proud to
partner with the University of Alberta to advance the recovery of rare-earth
elements from oil sands tailings
.
Eligible projects within this ERA call include technologies for directly treating and remediating tailings
and OSMW, innovative methods to reduce waste generation, and solutions that recover value from
OSMW. Projects must demonstrate the potential to mitigate long-term environmental liabilities, expedite
reclamation, and reduce clean-up costs.
CVW CleanTech's proprietary technology is ready-to-deploy and a single commercial deployment would
support achieving the ERA's objectives through:
Reprocessing the entire volume of froth treatment tailings at an oil sands mining site to deliver
Directive 085 compliant ready-to-reclaim tailings, accelerating remediation activities;
Treating up to 14 million cubic meters of OSMW per year, reducing freshwater draw and cutting
water-use intensity by over 15%;
Recovering 1.9 million barrels of bitumen and 300,000 barrels of solvent per year;
Recovering over 240,000 tonnes per year of critical mineral (titanium, zircon) concentrates, and
potentially rare-earth elements;
Preventing over 80% of naphthenic acids from deposition into tailings ponds;
Capturing total suspended solids including fines through thickening and ultrafiltration, avoiding
contributions to fluid tailings inventories;
Managing pyrite and naturally occurring radioactive materials (NORM); and
Reducing mineable oil sands greenhouse gas emissions by up to 12% by abating up to 300,000
tonnes of methane per year.
Over a 24 year period and at each individual deployment, CVW™ can generate significant positive
economic benefits including up to $7.9 billion in additional GDP, up to 24,000 person-years of
employment, and up to $1.4 billion in revenue for the Government of Alberta.
CVW CleanTech has a longstanding partnership with the ERA, which previously granted $10 million in
funding to support the development of the Company's proprietary CVW™ technology. This support has
been instrumental in advancing project-specific engineering studies, helping to define a CVW™ project
at Technology Readiness Level 8 and bringing the technology to its current shovel-ready status.
"ERA's mandate to reduce emissions and support the competitiveness and growth of Alberta's economy
aligns perfectly with our own objectives," said Mr. Dubey. "We look forward to participating in this
important funding initiative and to advancing our productive relationships with oil sands mining
operators, and other key stakeholders, to drive the commercial implementation of our technology."
About CVW CleanTech Inc.
CVW CleanTech
invests in innovative technologies which provide returns linked to commodities and
which operate in a sustainable manner to help accelerate the world's transition to net zero. CVW
CleanTech is building a portfolio of royalty-based cash flow streams by partnering with clean technology
innovators in the commodity space. CVW CleanTech is also the 100% owner of its proprietary
technology, Creating Value from Waste™, which is designed to recover bitumen, solvents, critical
minerals, and water from oil sands froth treatment tailings, which would reduce tailings pond fugitive
methane emissions, volatile organic compounds (VOCs), and enhance tailings management for
Alberta's oil sands.
Additional information on CVW™ can be found within the Company's Process and Technology Overview
which is accessible using the link below:
https://cvwtechnology.com/technology/process-and-technology-overview/
CVW CleanTech trades on the TSX Venture Exchange under the symbol "CVW", on the OTCQX under
"CVWFF", and on the Frankfurt Stock Exchange under the symbol "TMD0".
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information within the meaning of
applicable Canadian securities laws (collectively, "forward-looking information") that reflect the current
expectations of management about the future results, performance, achievements, prospects, or
opportunities for CVW CleanTech.
Forward-looking statements are frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or
statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved.
The forward-looking statements may include statements regarding the ability of the Company to make
strategic investments and identify opportunities, that the Company will effectively identify and
undertake future corporate transactions, the receipt of shareholder and Exchange approval to proceed
with the Classification Change, the anticipated benefits of the adoption and commercialization of
CVW™ technology, the chemical, material, financial, economic, operational, environmental and any
other anticipated results of the adoption thereof, potential diversification strategies and the
implementation and results thereof, expectations regarding future development, funding (including
necessity, sources, and expected structure of the same) and contracted work, expectations as to the
timeline on which any goals of the Company will be met, expectations regarding the key economic
and policy drivers supporting the adoption of CVW CleanTech's technology, expectations regarding
synergies or alignments between the business of the Company and any other organization, CVW
CleanTech's research and development and commercialization plans, the advantages of the
Company's technology, the Company's ongoing engagement with stakeholders, including business
development activities, the development of networks with strategic partners, potential financing
opportunities, including grant and financing opportunities from applicable government programs and
non-governmental organizations, and entering into funding agreements related thereto, any expected
next steps for the Company, timelines, strategic plans, and the scope of any activities that will be
undertaken. Forward-looking statements are statements about the future and are inherently uncertain,
and actual achievements of the Company may differ materially from those reflected in forward-looking
statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements. Important factors that could
cause actual results to differ materially from the Company's expectations include: uncertainties
involved in disputes and litigation, fluctuations in interest rates, commodity prices and currency
exchange rates; changes in the availability, and cost, of technical labour required for the success of
the Company's products and services; price escalation and/or inflationary pressures affecting the cost
of equipment and material required to commercialize the same; the uncertainty of estimates of capital
and operating costs; the need to obtain additional financing and uncertainty as to the availability and
terms of future financing; the impact on the Company of increasing inflation; any change in
government policy, programs, and funding opportunities, whether provincial, national, or international
which could negatively affect the Company, and any failure of the same to continue to evolve in
accordance with Company's expectations; any change in capital or commodity markets, whether
generally or particularly in the clean technology sector, which could cause or compel the Company to
adjust its goals, reallocate capital, and/or pursue alternative financing options; and other risks and
uncertainties disclosed in other information released by the Company from time to time and filed with
the appropriate regulatory agencies.
All forward-looking statements are based on the Company's beliefs and assumptions which are based
on information available at the time these assumptions are made. The Company has made the
following assumptions in relation to the forward-looking statements in this press release: the expected
environmental and economic benefits to be achieved from CVW™ technology; the ability of the
Company to successfully access various government funding programs; the details of government
funding programs and that such programs will be implemented (and not change) as expected; that the
Company will continue to be able to protect its intellectual property; assumptions as to various market
and commercial opportunities for the Company and its technology; and the ability of the Company to
continue to develop and commercialize its technology; that market conditions will not change
adversely so as to prevent the closing of the Classification Change on the terms previously described
or at all. The forward-looking statements contained herein are as of the date set out above and are
subject to change after this date, and the Company assumes no obligation to publicly update or
revise the statements to reflect new events or circumstances, except as may be required pursuant to
applicable laws.
Although management believes that the expectations represented by such forward-looking
information or statements are reasonable, there is significant risk that the forward-looking information
or statements may not be achieved, and the underlying assumptions thereto will not prove to be
accurate. Actual results or events could differ materially from the plans, intentions and expectations
expressed or implied in any forward-looking information or statements, including the underlying
assumptions thereto, as a result of numerous risks, uncertainties and factors including: failure to
obtain regulatory approvals; the possibility that opportunities will arise that require more cash than the
Company has or can reasonably obtain; dependence on key personnel; dependence on corporate
collaborations; potential delays; uncertainties related to early stage of technology and product
development; uncertainties as to fluctuation of the stock market; uncertainties as to future expense
levels and the possibility of unanticipated costs or expenses or cost overruns; and other risks and
uncertainties which may not be described herein.
For further information, please contact:
Akshay Dubey
Joshua Grant
CEO
403.460.8135
CFO
403.460.8135
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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