EDMONTON, ALBERTA -- September 10, 2009 -- Titanium Corporation Inc. (TSX-V: TIC) and Sustainable Development Technology Canada (SDTC) are pleased to announce that Titanium's "Creating Value from Waste" project has been selected to receive up to $4.9 million in funding from SDTC. The funds will be used to advance the demonstration of technologies that recover valuable products from oil sands tailings and deliver environmental improvements. The pilot demonstration project which will be led by Titanium, include consortium members Syncrude Canada Ltd., Sojitz Corporation and the Government of Alberta. Syncrude Canada's participation as a consortium member is related to the provision of tailings samples, field pilot hosting and reviewing test results.
"We are extremely pleased with this support from SDTC," said Scott Nelson, President and CEO of Titanium. "This funding is instrumental in advancing this new technology to increase resource recovery and reduce environmental impacts."
The project aims to develop and demonstrate technology to recover valuable products from oil sands tailings including heavy minerals, hydrocarbons and water. Titanium's technology is designed to be applicable to all open-pit oil sands operations and reduce emissions at oil sands sites. Treatment and reuse of tailings water by Titanium's process has the potential to reduce the consumption of fresh river water and the footprint of tailings ponds.
"Reducing the environmental footprint of the oil sands industry is one of the greatest challenges Canada is currently facing," says Vicky Sharpe, SDTC President and CEO. "Developing technology solutions to address challenges like this will help us to green our economy, addressing our economic and environmental priorities while becoming a global technology provider."
In addition to the SDTC funding, the project also received a $3.5 million Energy Innovation Grant from the Alberta Government.
About Titanium Corporation Inc. Titanium Corporation Inc. is developing the technology necessary to recover heavy minerals, hydrocarbons and water contained in the waste tailings streams from oil sands mining operations near Fort McMurray, Alberta. The potential benefits from this "Creating Value from Waste (tm)" proposition are twofold. First, the recovered minerals will have intrinsic value and will provide shareholders with a source of revenue. Second, by using an integrated approach to recovering minerals and hydrocarbons, there is potential for industry-wide environmental benefits. The Company's shares trade on the TSX-V under the symbol TIC. For more information, please visit www.titaniumcorporation.com.
About SDTC Sustainable Development Technology Canada (SDTC) is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund(tm) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(tm) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
President & CEO
Tel: (403) 561-0439
Vice President Finance & CFO
Tel: (780) 760-0512 x302
Director, Communications, SDTC
Tel: (613) 234-6313 x295
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