Acceleware Announces RF XL 2.0

Press Release

CALGARY, ALBERTA – June 25, 2025 – Acceleware® Ltd. (“Acceleware” or the “Company”) (TSX-V: AXE), a leading innovator of cutting-edge radio frequency (“RF”) power-to-heat technologies targeting process heat for critical minerals, amine regeneration (for carbon capture and other applications), and enhanced oil production, is pleased to announce details of the next generation of RF XL, (“RF XL 2.0”) and a new demonstration plan (the “Demonstration”).

“RF XL”, Acceleware’s enhanced oil recovery (“EOR”) technology that uses RF heating to energize oil formations, is a major innovation that could potentially decarbonize heavy oil and oil sands production effectively and efficiently by materially lowering costs compared to other EOR techniques, increasing the recovery factor, and potentially stimulating investment.

The RF XL Marwayne deployment was supported by three major operators and progressed from Technology Readiness Level (“TRL”) 4 to TRL 8, with its core technology, the Clean Tech Inverter (“CTI”) progressing to TRL 9. This deployment successfully demonstrated RF XL’s potential by heating the reservoir and increasing temperatures in the production well while achieving the highest power level and longest continuous run time for any RF based EOR technology.

Buoyed by the initial results at Marwayne, and the promise of increased oil production with higher power, Acceleware was encouraged by funders and industry partners to upgrade and improve to next generation RF XL 2.0.

Key components of the RF XL 2.0 development process included:

• Confirmed industry support for a sub-surface energy delivery system incorporating multiple technical advances over the previous RF XL design.

• Completed a ‘ground-up’ redesign program of the subsurface RF transmission lines, culminating in a hermetically sealed energy delivery system that eliminates the possibility of water ingress.

• Resulting benefits are a robust leak-proof design, reduced manufacturing costs, reduced well design and well completion costs, quicker well completion time, simpler and less costly wellhead design, and safer wellhead operating environment.

Acceleware is currently seeking funding for the RF XL 2.0 Demonstration: a commercial-scale project that builds on work performed to date and could showcase RF XL’s ability to enhance recovery in heavy oil reservoirs – particularly in the Lloydminster area – and increase production while decarbonizing. A previously announced non-dilutive grant in the amount of $1.31 million from the Clean Resource Innovation Network has been withdrawn due to timing constraints – eligible costs had to have been incurred between January 1, 2024, and September 30, 2025. However, multiple non-dilutive funding calls from both provincial and federal agencies are currently available and are being pursued.

Said Acceleware’s CEO Geoff Clark, “Combining the potential to economically produce more oil faster while decarbonizing is a compelling scenario for industry and governments alike. Once proven at commercial scale, RF XL 2.0 could serve to support Canada’s ambition to lead as a G7 energy innovator and superpower. We have a bold strategy in place to progress the technology as quickly as possible – we are keen to show the world what RF XL 2.0 can do.”

About Acceleware:

Acceleware is an advanced electromagnetic heating company with cutting-edge RF power-to-heat solutions for large industrial applications. The Company’s technologies provide an opportunity to electrify and decarbonize industrial process heat applications while reducing costs.

The Company is working to use its patented and field proven CTI to materially improve the efficiency of amine regeneration, and has partnered with a consortium of world-class potash partners seeking to decarbonize drying of potash ore and other critical minerals. Acceleware is actively developing other process heat applications and partnerships for RF heating.

Acceleware’s RF XL is a patented low-cost, low-carbon RF thermal enhanced oil production technology for heavy oil that is materially different from any enhanced recovery technique used today.

Acceleware is a public company listed on the TSX Venture Exchange (“TSXV”) under the trading symbol “AXE”.

For more information:

Geoff Clark

Tel: +1 (403) 249-9099

geoff.clark@acceleware.com

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