NXT Announces Geothermal Survey for Alberta Geothermal Resource Recovery Inc.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF) has secured a geothermal survey agreement with Alberta Geothermal Resource Recovery Inc. (AGRRI) in Alberta, Canada. This marks a significant milestone for NXT, being their first client survey in the geothermal application of their SFD® technology.
The survey's timeline is flexible, depending on aircraft availability and government permits. Typically, such projects take 2-3 months from data acquisition to report delivery, excluding integration. CEO Bruce G. Wilcox emphasized the survey's importance in demonstrating the commercial viability of SFD® in geothermal applications, noting that other potential clients will be closely monitoring the results.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF) ha firmato un accordo per un sondaggio geotermico con Alberta Geothermal Resource Recovery Inc. (AGRRI) in Alberta, Canada. Questo rappresenta una pietra miliare significativa per NXT, essendo il loro primo sondaggio cliente nell'applicazione geotermica della loro tecnologia SFD®.
La tempistica del sondaggio è flessibile, a seconda della disponibilità degli aerei e dei permessi governativi. Tipicamente, tali progetti richiedono 2-3 mesi dall'acquisizione dei dati alla consegna del rapporto, escludendo l'integrazione. Il CEO Bruce G. Wilcox ha sottolineato l'importanza del sondaggio nel dimostrare la fattibilità commerciale di SFD® nelle applicazioni geotermiche, notando che altri potenziali clienti osserveranno attentamente i risultati.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF) ha asegurado un acuerdo para un estudio geotérmico con Alberta Geothermal Resource Recovery Inc. (AGRRI) en Alberta, Canadá. Esto marca un hito significativo para NXT, siendo su primer estudio para un cliente en la aplicación geotérmica de su tecnología SFD®.
La cronología del estudio es flexible, dependiendo de la disponibilidad de aeronaves y permisos gubernamentales. Normalmente, tales proyectos tardan 2-3 meses desde la adquisición de datos hasta la entrega del informe, excluyendo la integración. El CEO Bruce G. Wilcox enfatizó la importancia del estudio para demostrar la viabilidad comercial de SFD® en aplicaciones geotérmicas, señalando que otros potenciales clientes estarán observando de cerca los resultados.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF)는 캐나다 앨버타의 Alberta Geothermal Resource Recovery Inc. (AGRRI)와 지열 조사 계약을 체결했습니다. 이는 NXT에게 중요한 이정표가 되며, 그들의 SFD® 기술의 지열 응용 분야에서 첫 번째 고객 조사입니다.
조사의 일정은 항공기 가용성 및 정부 허가에 따라 유연합니다. 일반적으로 이러한 프로젝트는 데이터 수집부터 보고서 전달까지 2-3개월이 걸리며, 통합은 포함되지 않습니다. CEO인 Bruce G. Wilcox는 조사 결과가 지열 응용 분야에서 SFD®의 상업적 타당성을 입증하는 데 중요하다고 강조하며, 다른 잠재 고객들이 결과를 면밀히 지켜볼 것이라고 덧붙였습니다.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF) a sécurisé un accord pour une étude géothermique avec Alberta Geothermal Resource Recovery Inc. (AGRRI) en Alberta, Canada. Cela marque une étape significative pour NXT, étant leur première enquête client dans l'application géothermique de leur technologie SFD®.
Le calendrier de l'étude est flexible, dépendant de la disponibilité des aéronefs et des permis gouvernementaux. En général, de tels projets prennent 2-3 mois depuis l'acquisition des données jusqu'à la livraison du rapport, excluant l'intégration. Le PDG Bruce G. Wilcox a souligné l'importance de l'étude dans la démonstration de la viabilité commerciale de SFD® dans les applications géothermiques, notant que d'autres clients potentiels suivront de près les résultats.
NXT Energy Solutions (TSX:SFD, OTCQB:NSFDF) hat eine Vereinbarung über eine geothermische Untersuchung mit Alberta Geothermal Resource Recovery Inc. (AGRRI) in Alberta, Kanada, gesichert. Dies stellt einen bedeutenden Meilenstein für NXT dar, da es sich um die erste Kundenuntersuchung in der geothermischen Anwendung ihrer SFD®-Technologie handelt.
Der Zeitrahmen für die Untersuchung ist flexibel und hängt von der Verfügbarkeit der Flugzeuge und den Genehmigungen der Regierung ab. Typischerweise dauern solche Projekte 2-3 Monate von der Datenerfassung bis zur Berichterstattung, ohne die Integration zu berücksichtigen. CEO Bruce G. Wilcox betonte die Bedeutung der Untersuchung zur Demonstration der wirtschaftlichen Tragfähigkeit von SFD® in geothermischen Anwendungen und bemerkte, dass andere potenzielle Kunden die Ergebnisse genau beobachten werden.
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CALGARY, AB / ACCESSWIRE / August 21, 2024 / NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD)(OTCQB:NSFDF) is pleased to announce it has entered into a geothermal survey agreement with Alberta Geothermal Resource Recovery Inc. (AGRRI). The survey will be flown in Alberta, Canada.
The survey will be conducted at a mutually agreeable time and subject to aircraft availability and the receipt of permits from the government authorities. A standard survey project would normally take 2-3 months from the initiation of data acquisition to the delivery of the Standard Report. This timeline does not include integration which is nominally conducted following delivery of the Standard Report.
Bruce G. Wilcox, CEO of NXT stated "The AGRRI survey is an important milestone in NXT's development of the geothermal application of our SFD® technology; our first survey for a client. The value to NXT will primarily be to demonstrate the commerciality of SFD® in the geothermal domain. Other potential geothermal clients will be keenly interested in the results."
About Alberta Geothermal Resource Recovery Inc.
AGRRI is a geothermal company based in Alberta, Canada that aims to help Canada reach its goal of NET ZERO GHG Emissions by 2050, primarily by repurposing abandoned oil and gas wells into geothermal wells, turning liabilities to assets.
The geothermal potential of Alberta occurs mainly at depths between 1.5 to 5 kilometers below the surface contained in geological formations of the Western Canada Sedimentary Basin. Development of the resource can help diversify Alberta's energy sector and provide electricity and heat to municipalities, industry and remote areas.
About NXT Energy Solutions Inc.
NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary SFD® survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify traps and reservoirs with hydrocarbon and geothermal exploration potential. The SFD® survey system enables our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is the registered trademark of NXT Energy Solutions Inc. NXT Energy Solutions Inc. provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
Contact Information
For investor and media inquiries please contact for NXT Energy Solutions Inc.:
Eugene Woychyshyn | Michael Baker |
Vice President of Finance & CFO | Investor Relations |
302, 3320 - 17th AVE SW | 302, 3320 - 17th AVE SW |
Calgary, AB, T3E 0B4 | Calgary, AB, T3E 0B4 |
+1 403 206 0805 | +1 403 264 7020 |
Forward-Looking Statements
Certain information provided in this press release may constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information typically contains statements with words such as "will", "may", "can", "enable" or similar words suggesting future outcomes or an outlook. Forward-looking information in this press release includes, but is not limited to, information regarding: aircraft availability, the ability to obtain necessary permits. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Risk factors facing the Company are described in its most recent annual information form for the year ended December 31, 2023 and MD&A for the six-month period ended June 30, 2024, which have been filed electronically by means of the System for Electronic Document Analysis and Retrieval ("SEDAR+") located at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
SOURCE: NXT Energy Solutions, Inc.
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FAQ
What is the significance of NXT Energy Solutions' geothermal survey agreement with AGRRI?
When will NXT Energy Solutions (NSFDF) conduct the geothermal survey in Alberta?
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