Wavefront Technology Solutions
Wavefront Technology Solutions Inc. (TSX-V: WEE) is a provider of secondary oil recovery and environmental technologies. The company was founded in 1997 as PE-TECH by CEO Brett Davidson and University of Alberta professor Tim Spanos. The company was later changed to Wavefront Technologies and Environmental Services. Wavefront Technology Solutions Inc. the company is known for its patented technology, which uses pulse technology to simulate the effects of the aftershock of an earthquake to aid in the recovery of stranded oil. These technologies simulate the beating of a heart – when a heart pumps, it sends pulses through the body's blood vessels, causing the network of capillaries to expand and contract. When a pulse is applied to the ground, it expands and contracts the porous rock, essentially freeing the trapped oil. This technology is used for fluid flow optimization having applications in both the environmental and energy sectors. In the environmental sector, the process is marketed as Primawave, while in the energy sector it is marketed as Powerwave.
| Company type | Public |
|---|---|
| TSX-V: WEE Expert Market: WFTSF | |
| Industry | Petroleum industry |
| Founded | 1997 by Brett Davidson |
| Headquarters | Edmonton, Alberta, Canada |
Area served | Worldwide |
| Products | Powerwave Primawave |
| Revenue | US$1.53 million (2007) |
| $7.252 million (2007) | |
| $4.34 million (2007) | |
Number of employees | 31 (2008) |
| Website | www.onthewavefront.com |
Powerwave technology has been put to use in more than 175 well applications throughout North America, including applications in California, Oklahoma, and Alberta. Powerwave has already been used in the field by EnCana, Penn West Energy Trust, Pengrowth Energy Trust, BP, Chevron , and Apache Corporation, among others.
Wavefront Technology Solutions Inc. is headquartered in Edmonton, Alberta, Canada , and has offices in Calgary, Alberta , and Cambridge, Ontario. The company also has offices in Houston, and Raleigh, North Carolina.