Enhanced oil recovery (EOR) is a commercially proven process where CO2 is used to increase the amount of crude oil that can be extracted from an oil field. Since the VeloxoTherm™ process provides an economical method to separate waste CO2 from industrial flue gases, this waste CO2 can then be used to produce a valuable product – oil.
Inventys is initially developing the VeloxoTherm™ process for the EOR market and plans to aggressively market it to industrial CO2 emitters that are situated close to planned enhanced oil recovery pipelines. By 2013, there will be over 500 potential installation sites that fit these requirements in North America alone