Avalon Oil & Gas, Inc.’s technology arm acquires and develops oil production enhancing technologies from early stage licensing partners. The company’s business model is to evaluate the commercialization potential of a technology and its market viability. If warranted, then Avalon will proceed to rapid prototype development and field test of the technology.
One of Avalon’s licensing partners is UTEK, Inc., a global technology transfer company that enables firms to rapidly acquire innovative technologies from universities and research labs worldwide. Through UTEK, Avalon has acquired a few new oil production technologies.
One such technology license acquired by Avalon via UTEK is from researchers at the University of Wyoming. This license provides Avalon with exclusive rights to paraffin wax removal technology for improving oil production efficiency. The technology utilizes ultrasonic waves to mitigate deposits of paraffin wax from crude oil.
The technology breaks wax bonds, inhibiting the wax from attaching to the tubing and surface flow equipment. This helps operators maintain optimal oil viscosity, thereby increasing flow rates and production efficiency. A build-up of paraffin wax can actually choke off flow-lines. This technology could lead to a solution for a very expensive problem effecting all oil producers globally.
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