CMG Launches Focus CCS to Accelerate Validation of CO2 Storage Sites

Step-by-step guided workflow supports users of all experience levels to simulate and validate CO2 storage sites in minutes instead of days.

CALGARY, Alberta, Sept. 24, 2024 (GLOBE NEWSWIRE) — 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.

CONTACT: For investor inquiries, please contact:
Kim MacEachern
Director, Investor Relations
cmg-investors@cmgl.ca

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