Toronto, Ontario, Canada – September 24th, 2014 – MCW Energy Group (TSX-V: MCW), OTCQX: MCWEF,(“MCW”), a Canadian holding company involved in fuel distribution and the creation of oil sands extraction technology announced today that it will be unveiling its proprietary, oil sands extraction technology near Vernal, Utah on Wednesday, October 1st, 2014 at 1:00 PM Mountain Time.
The occasion will be marked with a ribbon-cutting ceremony and a demonstration of MCW’s extraction plant on MCW’s lease site at Asphalt Ridge, near Vernal, Utah. Many local dignitaries, Utah State officials and the corporate MCW team are scheduled to be in attendance at this benchmark resource development event.
Dr. R.G. (Jerry) Bailey, CEO of MCW Energy Group stated, “After many years of engineering and research, we’re extremely proud to finally bring this ground-breaking extraction technology to the market.” MCW’s patented extraction technology utilizes benign solvents in its proprietary closed-loop system, uses no water in the extraction process and does not require high temperatures or pressures. MCW anticipates that independent third party testing will show that over 99% of these benign solvents is recovered and recycled for re-use within the system, and that the extraction process is environmentally friendly.
MCW is scheduling a testing period during September/October of 2014, and upon successful testing, anticipates initiating production from this plant in Q4-2014. There are plans to add several additional extraction units with larger capacities on the Company’s lease site in Asphalt Ridge in 2015.