TORONTO, ONTARIO--(Marketwire - Sept. 25, 2012) - Switchable Solutions Inc. (Switchable Solutions) announced today that innovative technology entrepreneur and venture capitalist Michelle Scarborough has joined its Board of Directors. Switchable Solutions' groundbreaking solvent technology is a uniquely energy efficient and environmentally friendly means of extracting bitumen from oil sands. The technology has the potential to deliver energy savings up to 50% versus traditional steam recovery processes, and is particularly effective at extraction of bitumen from difficult oil sands.
Mark Badger, CEO of Switchable Solutions, commented on the appointment. "Michelle has deep roots in Alberta, the Canadian energy sector and venture capital markets. Her presence complements SSI's growing energy expertise and will help us rapidly commercialize our "green" solvent system for bitumen extraction and tailing pond remediation. We're also pleased to announce that we have begun to commission a bitumen extraction pre-pilot system that is intended to demonstrate the efficiency and effectiveness of our unique process."
Michelle Scarborough said, "Switchable Solutions has a unique technology that solves several key issues faced by energy companies, particularly related to oil sands and the need to find more cost effective yet environmentally sustainable solutions for bitumen extraction and tailing pond remediation. I'm pleased to be part of a fast-moving company successfully commercializing a unique proprietary technology that will make a meaningful economic and environmental difference for the energy sector on a global scale."
During 2012, Switchable Solutions has operationalized partnerships with leading firms in the Canadian energy sector. CEO Mark Badger will provide further details on applications for the company's technology in primary bitumen extraction as well as tailing pond and drilling cutting remediation at the Banff Venture Forum in October 2012.
About Switchable Solutions Inc.
Switchable Solutions is a clean technology company focused on enhancing the profitability of its customers and making a positive impact on the environment. The Company's proprietary green solvent-based platform technology delivers more efficient, effective and environmentally friendly bitumen recovery and industrial processing.
Michelle Scarborough is an experienced entrepreneur and investor with a track record of business achievement. Currently Managing Partner of Smart Ventures LP, she oversees investments and professional management in high potential technology companies with co-investor angel partners. Michelle's early career was in business and land analysis and land negotiations at both Amoco Canada and Beau Canada Resources. Michelle has held a cross section of C-level roles in public and private sector companies, acting on behalf of VC and angel investors to commercialize, lead and align resources in order to achieve significant milestones, investment, and growth. Michelle is Chair of the National Angel Capital Organization (www.nacocanada.ca) in Canada.