Turning Heavy Crude Oil into High-Value Asphalt
Executing projects from concept to commercial reality
Executing projects from concept to commercial reality
Viridis Systems Inc. (Viridis) is a specialist project development, technology marketing and full value-chain company focused on bringing Near Zero Emissions Technology (NZET) heavy-crude, asphalt-forward refining projects from concept to cash-flowing reality.
Viridis’ role is to move each qualifying project from early concept through financial close, construction, and into stable commercial operations, coordinating among the technology owner, project sponsors, engineers, EPC contractors, feedstock suppliers, offtakers and financing parties.
To achieve this, Viridis performs intensive front-end work to turn an initial idea into a realistic, investable project concept and preliminary design basis. The work is front-loaded, multidisciplinary and requires deep domain expertise in heavy crude, asphalt markets and refinery economics.
That focus matters. These projects sit at the intersection of refining technology, infrastructure development, asphalt markets and complex commercial agreements all of which are connected to the lowest emission heavy oil processing technology.
The projects are too specialized for generalist consultants and too early-stage for most investors to take on alone. Viridis fills that gap.
Low barrier to entry with lower capital costs compared to traditional facilities
Compact design can fit in smaller spaces, reducing land use and permitting complexity
Easily integrate with existing asphalt facilities to enhance capacity and adopot additional processes
Technically and commercially
Investors and lenders get excited and jump in
Operations, contracts, and customers line up from day one
Our work is structured into three phases, each tied to a clear milestone and success-based fee.
Idea to Investable
Milestone: Viridis engagement and project designation
Phase 1 is all about answering three core questions:
To answer, Viridis leads a comprehensive front-end effort:
his is distilled into a Project Definition Memo, which becomes the foundation for all further work and a document you can share internally or with selected partners.
The output is a Market & Pricing Assessment that tells you whether the project has a meaningful competitive edge and how it needs to be configured to capture it.
The assessment turns into a Feedstock & Configuration Screening Report that highlights the best options and their implications.
This becomes the Concept Study Report—the initial serious, integrated view of whether the project is worth pursuing further.
By the end of Phase 1, enough clarity is provided to help make a risk-managed, go/no-go decision and engage potential project partners with confidence.
Concept to Bankable
Milestone: Construction start (EPC NTP / first major mobilization)
Work closely with Viridis’ exclusive engineering design partner and NZET technology owner
Transform the market assessments into a bankable market case
Achieve terms sheets and MOUs that convince financiers that the project will have reliable, creditworthy customers
Support the feedstock selection process and the negotiation of commercial terms that match both the plant’s operational needs and lenders’ expectations
Help develop and refine a bank-grade financial model, prepare a Project Information Memorandum and supporting presentations
Secure a credible Final Investment Decision (FID) and Construction Start
Construction to Successful Commissioning
Milestone: Commercial production start
Participate in key design and review meetings
Finalize specs and operating interfaces with offtakers
Ensure yields, qualities and throughput are in line with the design and the economic modeling while confirming logistics chains are working as planned
Continue to provide market intelligence and pricing guidance while tuning term and spot allocations