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How are off without the panels of glass point uses solar power to extract oil from the ground eliminating the need for natural gas.
And extending the life of the world's oil fields -- point -- CEO rob Macgregor joining us now.
To talk about why solar steam.
Is the wave of the future -- thank you so much for joining us I have to admit this is not my area of expertise.
-- explain to me how this system works and why you think it is the wave of the future.
I think -- really important thing when thinking about the future of oil production -- to realize that the easy oil is gone.
-- were producing the difficult oil and we -- difficult oil what we really mean is very thick heavy oil.
But heavy oil is so thick in fact if you -- -- a ball a bit and put on the table it would Steve bowl shaped.
It's amazing guests -- welcome this produced oil by injecting high pressure steam.
Does an oil well to -- oil -- and -- to the surface.
So the glass -- and the mission is to generate about -- using solar energy.
Instead -- burning natural got so in some cases burning oil itself.
So you have already had you deal with.
Is it -- -- in the Middle East the companies that mean which you would imagine the Middle -- for the oldest son it adds.
Is a natural.
Use of this technology.
That's right in the Middle -- and -- the whole Arabian gulf is a perfect storm for us.
We have abundant sunshine we have heavy oil and somewhat country and should to be shocked to -- -- turn to fuel.
Otherwise to be burning natural gas -- there is actually shortage of gas in the gulf region right now.
It's interesting the system New Year's -- uses sound very light mirror is made out of at a medium or aluminum whatever you want to call it it's thinner than that of a soft drink and to give you an idea of how thin it is -- and how do you protect those.
Mirrors -- -- savings -- through what we're seeing on the screen now as this giant greenhouse is that right.
That's exactly right and in fact we're looking at as a standard agricultural greenhouse -- -- you normally go to my toes are roses and and a function of -- green has is to protect those delicate.
Components from the elements as you can imagine that and an oil field in the Middle East in the middle of the desert.
We're looking harsh winds.
Sons dust humidity all of the things that you really don't want ought not delicate solar array.
So the glass has protects it and by doing so greatly reduces the cost.
Because that lets those deploy those light weight low cost components into regions where you normally couldn't do that.
So you've been out there raising money how does that process garden and -- you see the future going -- company.
Fundraising is gone very well for us.
Receive money from a number of leading energy investors in the US and Canada.
And most recently from shell the -- major oil company.
Under were using that support -- -- money take spines globally.
This idea of solar and -- -- recovery this idea of using solar to really -- to produce more oil.
Do you have competitors in this failed -- -- using exactly the same technology.
There's no direct competitor which used the same technology is we -- of course there are many solar companies.
However we have only company that's uniquely focused on this particular market.
And as you can imagine the needs for solar -- -- an oil field are quite different than he needs for solar electricity.
Our solar steam for other applications -- -- -- -- solar industry as a whole in this.
Country's gotten a black guy from a lot of tax Payer money going down the drain investing in that company -- -- haven't gone anywhere but you.
Are completely different story -- must be very encouraging.
Yeah we're very very enthusiastic right -- -- I think the key thing about our business model is it's not predicated on any kind of green goodness and they -- of government support.
Basically our proposition to our customers as fundamentally economic.
Produce more oil at less cost using solar and sort of burning oil gas.
And that makes the business move very robust when we wish you the best of luck rob McGregor thank you so much for joining us.
And kudos to Andy Murray as well we'll get that in this half tall but he's so I -- I thank you very much appreciate it.
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