DarkVision Receives Funding From Sustainable Development Technology Canada

Date
September 1, 2016

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September 19, 2016 – Vancouver, BC – DarkVision Technologies, announced today that is has received a contribution of $3m from Sustainable Development Technology Canada (SDTC), to support the field deployment of its new downhole imaging technology. The SDTC project is set to begin the 2nd half of 2016 with DarkVision’s Consortium Partners Suncor and Cenovus.

“The contribution that SDTC is providing on this project is critical” says Stephen Robinson, DarkVision’s CEO. “We have spent the past 3 years developing our ultrasound-based downhole imaging technology and are exciting about getting our product out to the field with our partners and the support of SDTC”
“Sustainable Development Technology Canada is very proud to support the commercialization of DarkVision’s innovative technology,” said Leah Lawrence, SDTC President and CEO. “This project will create green jobs for the local economy, increase efficiency in the sector and provide economic and environmental benefits for all Canadians.”

Project Description
Led by an experienced team of entrepreneurs, DarkVision has developed a new ultrasonic-based downhole imaging technology that gives Oil and Gas operators the ability to view the inside components of their wells with high resolution and clarity. The technology enables operators to identify problems inside the wellbore with precision and confidence, and unimpaired by wellbore fluids.
Working with its consortium partners, DarkVision will demonstrate the field-readiness of the technology by imaging a wide variety of wells during the project, allowing its partners to accurately identify problems such as casing-connections, cracks, sand-screen damage, scale, erosion, corrosion, flow-control device degradation and other downhole problems that negatively impact production efficiency and lead to well failures. The environmental benefits come from providing operators a better feedback loop, allowing them to make more effective maintenance decisions that optimize production and minimize failures in their wells.

About DarkVision
DarkVision Technologies Inc. was founded in 2013 by a group of experienced entrepreneurs that have expertise and a track record in developing and commercializing imaging technologies. The company has developed a super high resolution ultrasound-based imaging technology that gives oil and gas operators a set of eyes inside their wells that are unimpaired by wellbore fluids. DarkVision has already won numerous awards, is well financed and is now in the process of expanding its core engineering, software and technical team. If you’d like to join our team for this unique opportunity, please visit our website at darkvisiontech.com

About SDTC
Sustainable Development Technology Canada (SDTC) is an arm’s-length foundation created by the Government of Canada to support innovative and entrepreneurial clean technology projects. Our portfolio of companies develop and demonstrate new technologies that address issues related to climate change, air quality, clean water and soil.

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