Acceleware Ltd.
TSX VENTURE : AXE

Acceleware Ltd.

September 23, 2013 09:00 ET

Acceleware, Paradigm, NVIDIA and TSA Join Forces at SEG to Make Reverse Time Migration More Affordable

HOUSTON, USA--(Marketwired - Sept. 23, 2013) - Acceleware Ltd. (TSX VENTURE:AXE) today announced at the 83rd annual meeting and international exposition of the Society of Exploration Geophysicists (SEG), the availability of a special bundled offering with technologies from Paradigm, NVIDIA and TSA for Reverse Time Migration (RTM). Collectively these vendors are committed to improving access to RTM with a special pricing promotion including software, hardware and integration services, plus an arrangement for customers to test drive their data using this technology.

RTM is an advanced pre-stack depth migration technique used to both image and model the subsurface in areas of complex geologies. As resource exploration moves into more challenging geologies, the RTM technique becomes a vital tool in minimizing financial and environmental risks.

"Paradigm is excited to be a part of this effort to encourage more companies to take up this powerful imaging and modeling technology. We are committed to providing customers leading edge seismic imaging solutions and RTM is a key component of our portfolio," said Duane Dopkin, Executive VP - Technology at Paradigm.

"GPU accelerators help produce superior subsurface images that lead to better drilling decisions, at a rate of 4 to 6 times more throughput and with better energy efficiency than conventional CPU-based clusters," said Paul Holzhauer, Director of Oil and Gas at NVIDIA. "We're working with Acceleware, Paradigm and TSA to help oil and gas customers take full advantage of the benefits of GPU-accelerated RTM processing."

"By facilitating the coming together of several leading vendors for this bundle our objective was to open up RTM to the entire spectrum of interested companies. The collaboration has been designed to provide companies with the chance to try the technology and give them a break on the set up costs," said Geoff Clark, Chief Executive Officer at Acceleware.

The companies are offering customers discounted pricing on RTM software, both for Paradigm Echos RTM and Acceleware AxRTM™ library; NVIDIA and HP are providing a competitively priced, bundled hardware package; and TSA is offering discounted integration services and testing time on its GPU cluster.

For more information please visit: Acceleware.com/rtm-promotion

About SEG 2013

The SEG annual meeting and international exhibition is the world's largest oil, energy, and mineral show exhibiting advanced technology for use in exploration and development. It is being held in Houston, Texas, 22-27 September at the George R. Brown Convention Centre.

About AxRTM

Since 2008, Acceleware's AxRTM pre-stack two-way wave equation migration library with isotropic, VTI and TTI capabilities has lead the industry in compute performance. Uniquely supporting NVIDIA Tesla GPUs, Intel Xeon Phi coprocessors and multi-core CPU clusters, the AxRTM library provides seismic data processors with an economically viable RTM solution. Advanced geophysical imaging features including dual TTI formulations for stability and speed, high quality image condition, obliquity correction and innovative noise removal produce high quality images of exceptional detail. AxRTM is available in library form direct from Acceleware, and in integrated software platforms from Paradigm and Tsunami Development. DownUnder GeoSolutions offers a complete RTM processing service powered by AxRTM.

About Acceleware

Acceleware (www.acceleware.com) develops and markets high performance computing (HPC) software solutions for the engineering and energy industries. These solutions allow customers to speed-up simulation and data processing algorithms, benefitting from HPC technologies such as multi-core CPUs and massively parallel many-core GPUs. Acceleware software, specialized HPC training and consulting services are deployed by companies worldwide such as Boston Scientific, Samsung, LG, General Mills, Nokia, RIM, Medtronic, Hitachi, FDA, Mitsubishi, Sony Ericsson, Fugro and Rock Solid Images to speed up product design, analyze data and make better business decisions.

Acceleware is a public company on Canada's TSX Venture Exchange under the trading symbol AXE.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information