SOURCE: MCW Energy Group

MCW Energy Group

MCW Energy Group

April 25, 2016 09:30 ET

MCW Energy Group & APATEQ Commence Discussions to Combine Expertise for the Development of Environmentally Friendly Remediation Technologies Portfolio

A Joint Press Release Issued by MCW Energy Group Limited & APATEQ

TORONTO, ON--(Marketwired - Apr 25, 2016) - MCW Energy Group Limited, ("MCW"), (TSX VENTURE: MCW) (OTCQX: MCWEF), a Canadian holding company involved in the development and implementation of oil sands technologies, through MCW Oil Sands Recovery, LLC, ("MCW Oil Sands") today announced that current discussions are being held to explore the possibilities of an association with APATEQ and its North American-based subsidiary, APATEQ, Inc. ("APATEQ"), an industry leader in wastewater remediation technologies.

The focus of this potential co-operation between the two companies would be to combine MCW's proven oil sands extraction technology with APATEQ's membrane-based solutions for the treatment of process water and industrial wastewaters. The target would be to develop a portfolio of technologies to serve the oil and gas industry as well as heavy industry applications in wastewater extraction/treatment.

MCW has spent six years developing an environmentally friendly extraction technology, which is now into successful production in Utah. This technology can also be applied to oil sands deposits and remedial applications for the massive tailings ponds in Alberta, Canada on a cost-efficient basis. MCW's unique closed-loop technology requires no water, produces no greenhouse gases or high temperatures or pressures. APATEQ's full-solution systems feature portable, compact designs resulting from the Company's extensive knowledge of packaged, containerized modules. MCW and APATEQ are considering the co-development of versatile, mobile units using environmentally friendly technologies for the remediation of contaminated soil and water. Both companies recognize the global potential of contamination remediation, not only in the oil and gas industry but in heavy industry as well.

"The synergy of both companies' technologies is impressive. They both improve the environment with the separation of hydrocarbons and other hazardous materials from water, sand and soil. MCW's extraction technology was originally developed as a remediation technology, therefore a potential to work alongside APATEQ means that MCW is gradually creating a portfolio of extraction technologies which are all environmentally-friendly. It's a logical next step for our Company," stated MCW's Chief Technology Officer, Dr. Vladimir Podlipskiy.

"With this proposed joint venture approach, our two companies are further strengthening our respective RDI efforts, and we will have the ability to develop new markets and revenue streams with an expanding portfolio of extraction and filtration technologies," stated APATEQ CEO, Bogdan Serban. "This proposed affiliation will enable MCW and APATEQ to exploit our many years of combined technological experience and market know-how. A successful alliance would produce a comprehensive portfolio of mobile soil/water remediation solutions."

Discussions are continuing in order to establish a foundation for an association between the two companies. Further press releases will be jointly issued when a relationship structure has been formalized as well as a prioritized list of new product technologies. Both parties agree that their proposed association will potentially open the doors to significant, new revenue streams and will create a new benchmark for environmentally-conscious clean-up standards.

About APATEQ:
APATEQ, Inc., based in Spring, Texas is the North American headquarters of APATEQ in Luxembourg that develops and manufactures turnkey, custom-designed frac flowback and produced water treatment systems for oil and gas field operators, compact wastewater treatment plants for demanding applications and full-solution systems for industrial wastewater. With decades of experience in the water and wastewater industry and global industrial product manufacturing and commercialization, APATEQ's corporate and technical team is comprised of dedicated experts whose focused goal is client satisfaction, environmental protection and water conservation. APATEQ has won several awards, including the Frost & Sullivan Best Practices Award and the Red Herring Global 100 Award. Please visit: www.apateq.com .

About MCW Energy Group Limited:
 MCW Energy Group Limited is focused on value creation via the development and implementation of (i) Proprietary, environmentally-friendly oil sands extraction technologies and remedial tailings ponds project solutions, (ii) Expanding production capacities of its now operational oil sands project in Asphalt Ridge, Utah, (iii) The formulation of worldwide joint ventures and the licensing of oil sand opportunities with private and governmental resource entities within countries possessing extensive oil sands/shale deposits. MCW's management team is comprised of individuals who have extensive knowledge in both conventional and unconventional oil and gas projects and production, both in upstream and downstream industry sectors. Please visit: www.mcwenergygroup.com .

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward- looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, MCW maintaining extremely efficient production costs, the ability of MCW to successfully increase the capacity of its current plant to an anticipated 500 bbl/day as part of the Capacity Augmentation Program; the commercial viability of the technology and the extraction plant, economic performance and future plans and objectives of MCW; and the commercial production of oil from MCW's oil sands extraction plant in Asphalt Ridge, Utah. Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although MCW believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, MCW disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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

Contact Information

  • For more information, please contact:

    APATEQ
    Marketing & Communications
    Tel. Europe: +352 2021 1680 70
    Tel. USA: +1 (281) 378 4772
    Email: b.prochnow@apateq.com


    MCW Energy Group Limited
    Paul Davey
    Director of Communications
    Tel.: (800) 979-1897 (Ext. 3)
    Cell: (778) 389-0915
    Email: pdavey@mcwenergygroup.com