What Acceleware does

Acceleware Ltd. is a Calgary-based clean-technology company that develops radio frequency (RF) heating solutions for industrial process heat applications. The company's core proprietary asset is the Clean Tech Inverter (CTI), a power-electronics platform that converts grid electricity into RF energy for direct volumetric heating of materials. Its flagship product, RF XL, is a patented thermal enhanced oil recovery system that heats heavy oil and oil sands reservoir formations in situ, reducing oil viscosity without steam, water, solvents, or tailings ponds. Acceleware has extended the CTI platform into mining and mineral processing (potash drying, copper heap leaching, iron ore drying) and carbon capture (RF energy for amine regeneration), collectively branded as EM Powered Heat. The RF XL commercial-scale pilot at Marwayne, Alberta operated for over 200 days of continuous RF power injection, validating the technology at TRL 9 and generating the operational dataset that anchors the company's commercial claims.

The company's revenue model is project-based and grant-dependent rather than product-volume-driven. Revenue streams include milestone payments under project funding agreements with oil sands operators (e.g., C$1.95 million recognized historically from a single producer's performance obligations), development contracts such as the C$350,000 Phase 3A potash project with IMII and paid feasibility studies for BHP, legacy high-performance computing seismic imaging software license and maintenance revenue, and non-dilutive government funding (CRIN, SDTC, ERA, Alberta Innovates) that is recognized as assistance offsetting R&D costs rather than as commercial revenue. The go-to-market approach combines direct enterprise engagement with oil sands and mining majors, channel partnerships (Scovan), industry consortiums (IMII), and government co-funding programs to derisk pilots.

Customer concentration is narrow: three undisclosed major oil sands producers represent well over one million barrels per day of combined production, BHP anchors the mining vertical, and a small set of potash producers (Nutrien, Mosaic via IMII) participate in minerals development. Acceleware is publicly listed on the TSX Venture Exchange under ticker AXE with 11-50 employees, 62 patents issued/allowed/pending, and a head office at Suite 102, 1822 2nd Street SW, Calgary. The company continues to burn cash—comprehensive loss of C$1.9 million in 2025—while relying on government grants, convertible debentures, and small insider-supported private placements to fund the transition from pilot to commercial deployment.

Name

Acceleware

Legal name

Acceleware Ltd.

Website

https://acceleware.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Acceleware Ltd. is a Calgary-based clean-tech company that has developed proprietary radio frequency (RF) heating technology, branded EM Powered Heat, to electrify industrial process heat for heavy oil recovery, mining/mineral processing, and carbon capture applications.

Ownership category

akta.pro rank

Product category

Industrial Process Heating Technology

NAICS

Electrical Equipment Manufacturing (3353)

SIC

Industrial Process Furnaces & Ovens (3567), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Power Electronics for Industrial Heating (Induction/dielectric heating power supplies) (IMAGADAK)

akta.pro secondary industry

Thermal Processing Equipment (Furnaces/RTP/Anneal) (HDAHAEAE)

Keywords

• Radio frequency heating
• Electromagnetic industrial heating
• Heavy oil recovery
• Mineral processing technology
• Carbon capture solutions

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. RF Heating Technology Commercialization: Revenue from RF XL technology commercialization including data sales from pilot projects, milestone payments from funding agreements, and future product sales. The company recognizes revenue when milestones are completed under performance obligations with oil sands producers. Historical revenue includes $1.95 million from completing milestones under a Project Funding Agreement with one oil-sands producer.
2. High-Performance Computing (HPC) Software: Specialized scientific software for seismic imaging providing high fidelity imaging for oil exploration in complex geologies. Revenue from software licenses, maintenance contracts, and training services. Marketed through direct and reseller models with focus on higher gross margin products.
3. Government and Partner Funding: Non-dilutive funding from government agencies and industry partners for R&D activities. Includes grants from CRIN, SDTC, ERA, Alberta Innovates, and project funding from oil sands operators. Funding is recognized as government assistance to offset R&D costs.
4. Mining Technology Development Contracts: Phase-based development contracts for mineral processing technology, including the $350,000 Phase 3A contract with IMII for potash drying project. Paid feasibility studies for mining companies such as BHP for iron ore drying and copper heap leaching assessments.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Acceleware develops and commercializes proprietary radio frequency (RF) heating technology, branded as EM Powered Heat, that electrifies industrial process heat. Its Clean Tech Inverter (CTI) platform converts electricity into RF energy for heavy oil and oil sands recovery (RF XL/RF XL 2.0), mineral drying (potash, iron ore, copper heap leach), and amine regeneration for carbon capture. The company also sells high-performance computing seismic imaging software.

Product overview

Acceleware offers a portfolio of electromagnetic heating technologies branded as EM Powered Heat, centered on the proprietary Clean Tech Inverter (CTI) platform. The core product RF XL/RF XL 2.0 provides radio frequency heating for enhanced heavy oil recovery, while the CTI technology has been extended to mining applications (RF Direct Heat for minerals processing), carbon capture (EM Powered Heat for Amine Regeneration), and other industrial heating decarbonization uses. Additionally, the company provides complementary seismic imaging and RF heating simulation software solutions for the energy sector.

Differentiator

Problem solved

Functional benefit

Brands

• EM Powered Heat: Brand name for Acceleware's electromagnetic heating technology platform using the proprietary Clean Tech Inverter for industrial process heat applications including enhanced oil recovery, mining, carbon capture, cement and concrete, and agri-food
• Acceleware | Kisâstwêw
• RF XL
• RF XL 2.0
• Clean Tech Inverter (CTI)

Products and services

• RF XL / RF XL 2.0 Patented radio frequency heating technology for thermal enhanced heavy oil recovery from oil sands and heavy oil reservoirs. Heats reservoir formations with electromagnetic energy, reducing oil viscosity without steam, water, or solvents. Targeted at major oil sands producers in Alberta and Saskatchewan.
• Clean Tech Inverter (CTI) Proprietary power electronics platform that converts electricity into RF energy for large-scale industrial heating applications. Enabling technology underlying all EM Powered Heat solutions, capable of delivering up to 6,000 kW with 98-99% conversion efficiency using silicon carbide transistors.
• RF Direct Heat for Mining Radio frequency heating application for mining and mineral processing that delivers RF energy directly into materials, reducing moisture content and lowering energy intensity by 50-75%. Targeted at mining companies processing potash, copper, gold, nickel, and iron ore.
• EM Powered Heat for Amine Regeneration RF energy application for amine-based carbon capture systems that reduces energy consumption by 75-85% and lowers amine degradation, potentially reducing overall carbon capture costs by one-third. Targeted at industrial facilities operating carbon capture systems.
• Seismic Imaging Software High-performance computing software providing advanced seismic imaging for oil and gas exploration in complex geological formations. Includes electromagnetic simulation capabilities. Marketed through direct sales and reseller channels to oil and gas companies.
• AxHeat RF Heating Simulation Software RF heating simulation software for modeling and predicting RF heating performance in reservoir formations, used to validate RF XL technology effectiveness for oil sands and heavy oil applications.
• RF XL for Crude-by-Rail Patent-pending application using the RF XL generator platform to heat cooled bitumen within rail cars at destination terminals, enabling safe transportation of undiluted bitumen by rail without diluent.

Quantifiable outcome

• Capital cost reduction of 50% compared to SAGD ($20,000-25,000 vs $40,000-50,000 per flowing barrel)
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• GE ResearchcoreTechnology or IntegrationPartnership for development of silicon carbide (SiC) RF generator capable of delivering up to 6,000 kW of power with 98-99% conversion efficiency. GE developed the prototype RF converter which was successfully field tested in 2019. The generator IP is owned by Acceleware.
• International Minerals Innovation Institute (IMII)coreStrategic or Co-development PartnerMulti-phase partnership for potash drying technology development. Phase 1 Exploring Innovations project validated RF drying potential. Phase 2 completed lab-scale prototype construction. Phase 3A contract valued at $350,000 for 200 kg/hour RF dryer deployment. IMII members include BHP, Nutrien, Cameco, Fission Uranium, and The Mosaic Company.
• BHPcoreStrategic or Co-development PartnerPartnership for feasibility studies evaluating RF heating in mineral processing applications including iron ore drying in Australia and copper heap leaching in Chile. BHP is also an IMII member supporting potash drying project development. Studies align with BHP's TAD innovation program for sustainable mining technologies.
• Prosper Petroleum Ltd.coreStrategic or Co-development PartnerOriginal partner for RF XL commercial-scale field test at Prosper's Rigel property in northeast Alberta's Athabasca oilsands. The partnership provided access to lease locations for pilot testing and was part of the early commercialization pathway for RF XL technology.
• ScovancoreChannel Partner/ Reseller/ DistributorStrategic collaboration and distribution agreement announced June 2025 for RF XL technology commercialization. Scovan is a production innovation company that will help promote and distribute Acceleware's electromagnetic heating solutions for industrial applications.
• Saa Dene GroupcoreStrategic or Co-development PartnerJoint venture partnership (Acceleware | Kisâstwêw) co-founded with Jim Boucher to raise the profile, adoption, and value of Acceleware technologies. The partnership supports Indigenous involvement in the energy transition and clean technology adoption, aligning with values of respect for land, water, and clean air.
• O'Neill Industries International-Canada Inc.minorStrategic or Co-development PartnerAgreement for asset transfer and new farmout opportunity announced June 2025. Provides potential access to additional heavy oil properties for RF XL technology deployment and commercialization.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Inductotherm Group: Largest global manufacturer of induction heating and melting equipment for industrial applications. Competes with Acceleware's CTI in the broader industrial heating market, though focused on induction rather than RF/dielectric heating.
• Watlow: Established industrial thermal solutions provider with broad portfolio of heaters, sensors, and controllers. Broad incumbent in industrial process heating that overlaps with Acceleware's industrial heat electrification offering.

Direct peers

• N-Solv: Develops solvent-based (non-steam) heavy oil and oil sands recovery technology as an alternative to SAGD. Directly competes with Acceleware's RF XL in thermal EOR, both pursuing low-carbon alternatives to conventional steam-based recovery.
• Stelter & Brinck: US-based manufacturer of industrial dielectric/RF heating equipment for drying, curing, and heating applications. Competes directly with Acceleware's CTI platform in industrial RF heating, particularly for materials processing and thermal applications.
• John Cockerill (formerly C-Tech Innovation): John Cockerill's C-Tech unit applies RF heating technology for mineral processing (notably silicon carbide production). Direct peer to Acceleware's RF Direct Heat for Mining, using similar RF heating principles for industrial decarbonization of mineral processing.
• Communications & Power Industries (CPI): Manufacturer of high-power RF generators and amplifier systems used in industrial heating, semiconductor, and scientific applications. Highly comparable to the silicon carbide RF generator that Acceleware developed with GE Research for 6,000 kW industrial heating.

Others

• Cenovus Energy: Major Canadian SAGD heavy oil operator (Christina Lake, Foster Creek) that represents both a potential customer and the incumbent technology competitor for Acceleware's RF XL heavy oil recovery solution.
• ANSYS: Multiphysics simulation software provider whose electromagnetic and thermal simulation tools overlap with Acceleware's AxHeat RF Heating Simulation Software product used for reservoir modeling.

Emerging players

• Antora Energy: Industrial decarbonization company using thermal batteries to deliver carbon-free process heat for heavy industry. Emerging competitor in the industrial electrification space where Acceleware's EM Powered Heat also targets cement, steel, and chemical applications.
• Rondo Energy: Industrial heat decarbonization company using thermal battery technology to electrify process heat for industries like cement, steel, and chemicals. Targets the same industrial electrification opportunity as Acceleware's EM Powered Heat platform but with a different technical approach (thermal storage vs RF heating).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/acceleware
• Facebookfacebook.com/acceleware
• LinkedInlinkedin.com/company/acceleware
• Instagraminstagram.com/acceleware

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Acceleware