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Well Resources Inc. Granted U.S. Patent for Environmentally Friendly Uses for Petroleum Asphaltenes

Calgary, AB, September 21, 2022   Well Resources (the “Company”), a provider of efficient and cost-effective decarbonization solutions for the petroleum sector, announces that the United States Patent and Trademark Office has granted the Company a patent for utilizing petroleum asphaltenes for environmentally friendly applications, including water and soil treatment.

Well Resources is the worldwide licensor of the commercial SELEX-Asp process. SELEX-Asp is an upgrading technology that selectively removes asphaltenes from heavy petroleum feedstocks as dry granular solids while producing premium decarbonized feedstock suitable for conventional refinery processing. Asphaltenes are highly carbonaceous constituents that reduce the flow characteristics and processability of crudes, and are a major source of carbon emissions when refined and combusted.

The removal and subsequent utilization of asphaltenes in non-combustive applications presents a significant opportunity for the petroleum industry to reduce its Scope 3 emissions. Scope 3 emissions are those indirect emissions that occur throughout the value chain, and can represent up to 80% of a company’s overall carbon footprint.

“While the petroleum industry rigorously works towards reducing its Scope 1 and 2 emissions, Scope 3 emissions reduction activities tend to be less prioritized because they are viewed as someone else’s problem - despite being more consequential,” said Warren Chung, President of Well Resources. “By removing carbon directly from oil and repurposing the material for non-combustive applications, energy companies can responsibly manage their emissions liabilities, diversify their product slates, and participate in a circular economy to add value to other industrial sectors.”

​About Well Resources

Well Resources is an Alberta-based technology company with local offices in Calgary and Edmonton. With focus areas in the energy and life sciences sectors, Well Resources develops and licenses green technologies that promote effective resource utilization.

For more information, visit: https://www.wellresources.ca/non-combustion-uses-for-asphaltenes