CMG Launches Focus CCS to Accelerate Validation of CO2 Storage Sites
24 September 2024 - 10:00PM
Computer Modelling Group Ltd. (“CMG” or the “Company”) (TSX: CMG)
is announcing the launch of Focus CCS, a purpose-driven simulation
tool designed to accelerate the preliminary selection and
validation process for CO2 storage sites.
With its intuitive interface and guided
workflows, Focus CCS enables engineers to quickly and accurately
evaluate risks, predict safe CO2 storage capacities, and expedite
the process leading up to permitting and regulatory approval.
“Carbon storage is one of the most advanced and
viable options to support global climate goals and ensure a
sustainable future. Increasing the deployment of CCS is critical,
and it must be done without compromising accuracy and safety,” said
Pramod Jain, CEO of CMG. “Focus CCS leverages our decades of
leadership in advanced physics modelling to significantly speed up
the preliminary analysis required for successful CO2 storage site
selection. This accelerates decision making and can shorten the
planning and approval cycle, moving new CCS projects forward.”
Focus CCS supports faster model building which
allows users to concentrate on critical analysis for proper site
selection and long-term CO2 storage. Key features include:
- Single
solution: guided workflows integrate pre-processing,
simulation, and visualization into an intuitive interface, ensuring
reliability for new users while offering full customization for
advanced users
- Risk
mitigation: assess containment effectiveness by simulating
CO2 spread and stabilization over time, based on well location and
injection parameters, ensuring long-term project reliability
-
Optimize storage capacity: assess and optimize
operational strategies to achieve maximum storage capacity
-
Confident business decisions: reliable data and
information ensure accurate preliminary evaluation of potential
storage sites, critical to the long-term success of a CCS project
and avoidance of costly mistakes
Focus CCS is now available worldwide and will
make a critical contribution to getting more CCS projects into
operation - supporting the global goal of progressing towards net
zero.
For more information on Focus CCS, visit our
website.
About CMG
CMG (TSX: CMG) is a global software and
consulting company that combines science and technology with deep
industry expertise to solve complex subsurface and surface
challenges for the new energy industry around the world. CMG is
headquartered in Calgary, AB, with offices in Houston, Oxford,
Dubai, Bogota, Rio de Janeiro, Bengaluru, and Kuala Lumpur. For
more information, please visit www.cmgl.ca.
Cautionary Note Regarding Forward Looking
Information
Certain statements contained in this press release
constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words
“potential”, “target”, “optimize”, “benefit”, and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on CMG’s assumptions or beliefs as to the
outcome or timing of such future events. In particular, this press
release contains forward-looking information relating to, among
other things, the expected benefits of newly developed software
products. Various assumptions are applied in setting such
expectations, including, but without limitation, the operational
benefits and the potential time and cost savings relating to the
integration and use of these products. Although such statements are
based on the reasonable assumptions of CMG’s management, there can
be no assurance that any conclusions will prove to be accurate. The
forward-looking information contained in this press release is made
as of the date hereof. Except as required by applicable securities
laws, CMG is not obligated to update or revise any forward-looking
information, whether as a result of new information, future events,
or otherwise. Because of the risks and assumptions contained
herein, investors should not place undue reliance on
forward-looking information.
For investor inquiries, please contact:
Kim MacEachern
Director, Investor Relations
cmg-investors@cmgl.ca
For media inquiries, please contact:
marketing@cmgl.ca
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