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Company
Company
Overview
The Creating Value From Waste™ (CVW™) technology is 100% owned by CVW CleanTech Inc. (“CVW CleanTech”), a publicly listed corporation whose common shares are listed on the Toronto Venture Stock Exchange (TSX.V: CVW) and traded on the OTCQX (CVWFF).
CVW CleanTech is a diversified clean tech platform, building a portfolio of exposure to clean technologies in the commodity space including through direct ownership of its proprietary CVW™ technology.
The Company is currently focused on advancing its proprietary technology towards commercialization which will deliver significant environmental and economic benefits to oil sands operators, indigenous communities, and the province of Alberta and Canada.
More information on CVW CleanTech can be found at
Technology History
The technology began mineral research and processing at its facility at the Saskatchewan Research Council in Regina, Saskatchewan in 2004 for flow sheet development test work. Encouraging results were achieved and it was decided to further invest in processing fresh froth treatment tailings.
In 2005, the technology was tested via bulk sampling plant by connecting to the fresh froth treatment tailings pipeline on-site in Fort McMurray. The bulk sampling plant produced washed sands containing heavy minerals which were further refined.
In 2006, significant advances were made through process flow sheet design updates, which were then tested by the operation of an on-site modular pilot mineral concentration facility (2006 Pilot Program) during September-October 2006. The 2006 Pilot Program achieved high recoveries of a heavy mineral concentrate (98-99%); however, traces of bitumen remained on the heavy minerals. The removal and recovery of bitumen was demonstrated as essential to effectively recover the heavy minerals.
In 2007, additional R&D activities were performed to remove bitumen from the heavy minerals and recover bitumen from the tailings stream.
From 2008 and 2009, the technology portfolio grew significantly as the engineering team executed on over 20 research projects with 12 independent research organizations. The program was 50% funded by a $3.5M grant from the Government of Alberta and developed new technologies to recover bitumen and solvent from froth treatment tailings and produce a cleaned heavy mineral concentrate.
During 2010 to 2013, the CVW™ technology was tested for the oil sands operators via a $30M pilot. The pilot program was highly successful, recovering over 80% of the bitumen and solvent as well as producing bulk samples of cleaned heavy mineral concentrate for full scale testing. These recoveries demonstrated significant environmental benefits by reducing emissions of greenhouse gases (GHGs) and volatile organic compounds (VOCs).
During 2014 to 2016 the mineral separation related technologies were tested via full-scale demonstration to validate valuable critical minerals recovery potential from froth treatment tailings.
The technology was advanced towards commercialization with Canadian Natural Resources Limited (Canadian Natural) starting in 2017 and completing a FEED with third party engineering firms at the Horizon oil sands site.
The reliability and independence of CVW™’s environmental benefits calculations were advanced. The Delphi Group validated the CO2 equivalent emissions which a CVW™ can abate.
A comprehensive guide to the CVW™ technology can be found in its Process and Technology Overview.
The technology has since been advanced to consider the use of a centralized Mineral Separation Plant to accept feed from multiple oil sands mining sites.
Current R&D activities are focused on developing a rare earth element (REE) process circuit to recover high grade monazite.
Corporate Leadership
AKSHAY DUBEY
CEO
Mr. Dubey joined CVW CleanTech in September 2022 as the Company’s Chief Executive Officer and as an Executive Director. Mr. Dubey has over 13 years of experience originating and structuring investments in the natural resource space including within the oil and gas, mining and metals, agriculture, and timberland industries. Prior to joining CVW CleanTech, Mr. Dubey reported directly to the Board of Directors of BaseCore Metals LP which he led since its inception in 2017 till its sale in July 2022 for $525m. At BaseCore his focus included originating and executing additional stream and royalty investments in the base metals sector, along with managing the company’s portfolio of assets. Previous to BaseCore, Mr. Dubey was a Principal within the Natural Resources team at Ontario Teachers’ Pension Plan Board, where he gained extensive experience in both the energy and mining sectors; including originating and structuring various investments, such as the $3.3b acquisition and subsequent set up of the Heritage Royalty platform. Mr. Dubey started his career working for CIBC in their investment banking division within the mining group based in Toronto, Canada and holds a Bachelors of Business Administration (Hons.) from the Schulich School of Business at York University.
JOSHUA GRANT
CFO and Corporate Secretary
Mr. Grant has over 14 years of experience leading corporate finance teams within the mining, manufacturing, and distribution industries. Mr. Grant was previously at Wesdome Gold Mines Ltd. where he was the finance leader responsible for banking and treasury management, external financial reporting, insurance, enterprise resource planning systems, and oversight of the controllership functions. Mr. Grant has overseen the implementation of several capital intensive projects critical to increasing shareholder value including mine site restart from care and maintenance, the start-up of a new manufacturing plant, and the company-wide deployment of business-critical technologies. Mr. Grant has worked at the Director and Controller levels for a multitude of organizations including Pathways to Education Canada, Multimatic, and DoALL Canada, Inc. Mr. Grant started his career with Deloitte as an accounting professional, is a qualified Chartered Professional Accountant in Canada, and obtained his Honours Bachelor of Commerce from McMaster University.
KEVIN MORAN
Executive Vice-President and Chief Technology Officer
Dr Moran has led the development of CVWTM over the past 15 years including extensive research into hydrocarbon recovery technologies, integrated piloting and progressive engineering to advance the company’s technology to TRL 8. He has over 25 years experience in the oil sands industry, during which time he focused on technical issues, and offering practical solutions, related to bitumen production through the application of colloidal, thermodynamic and transport principles; specific emphases included flotation, tight emulsions, vapour liquid equilibria and the physical characterization of bitumen. Dr. Moran joined the Company in 2008 from Syncrude Canada Ltd., where he managed research and technology development programs in oil sands bitumen extraction and froth treatment process technologies. As Project Leader & Research Associate, he was also responsible for feasibility studies and business case advancement in support of these R&D initiatives. Dr. Moran graduated from the University of Alberta with a doctorate in Chemical Engineering. Dr. Moran also holds a Masters degree in Chemical Engineering from the University of Toronto, undergraduate degrees in Engineering Science and Science from the University of Western Ontario, and an MBA from Queen’s University. Dr. Moran also fulfills a part-time role as Adjunct Professor at the Department of Chemical and Materials Engineering at the University of Alberta. He is a Professional Engineer (P.Eng.), registered in Alberta.
MATHEW ULLATTIKULAM
Vice-President, Corporate Development
Mr. Ullattikulam has extensive experience in the oil sands, energy, and clean technology industries, having executed pipeline and facilities projects of over $500 million in value. He has previously worked at both Suncor Energy (ten-year tenure) and Canadian Natural Resources Limited. Immediately prior to joining CVW CleanTech, he was a senior commercial leader for the Low Carbon Fuels and Offsets group at Suncor Energy.
Mr. Ullattikulam has managed early-stage investments in clean technology companies, led the structuring of multiple joint venture partnerships, and was the key liaison for communicating Suncor Energy’s low carbon fuels and offsets strategy. He obtained his Masters of Business Administration from the Richard Ivey School of Business and a Bachelor of Applied Science in materials engineering from the University of British Columbia.