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Technology Stocks : Fuel Cell Investments

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To: Frederick Langford who wrote (89)9/22/2000 11:17:43 PM
From: Bradpalm1  Read Replies (1) of 280
 
A very telling article.....LOADED with insights about the future.

Caltech, UC Berkeley to Receive $20 Million Grant From BP To Study Conversion of Methane to Useful Fuels & Chemicals

LOS ANGELES, Sept. 22 /PRNewswire/ -- A 10-year research grant totaling $20 million for the study of catalytically converting methane, the principal component of natural gas, to useful liquid fuels and chemicals, will be shared equally between the California Institute of Technology and the University of California, Berkeley, BP (NYSE: BP - news) announced today.

The grants have been agreed upon in principle by the prestigious California schools clearing the way for BP to establish a university research program at the two institutions, similar to one it previously announced at England's Cambridge University. The research will be directed by the respective faculty members and will involve undergraduate, graduate, and postdoctoral level students. Under the pending BP-funded proposal, each of the universities will work closely with the company during its study of methane conversion.

The discovery of large reserves of natural gas in many parts of the world, some very remote, has stimulated efforts by BP to catalytically convert methane to useful end products, such as much cleaner fuels and chemicals that are more economical to transport and market.

``We believe the next breakthrough in natural gas to liquids, which will help bring us the next generation of cleaner burning fuels, will come from catalysis combined with process engineering, and these two universities have some of the world's finest scientific and engineering minds to help us accomplish this,'' said Sir John Browne, group chief executive of BP.

``By undertaking this progressive collaboration with Caltech and UC Berkeley, which have taken vastly different approaches to solving this difficult methane conversion problem, we have formed a very innovative and substantial team.''

The UC Berkeley group will be headed by Professor Alexis Bell and will focus on heterogeneous catalytic approaches for producing liquid fuels and chemicals. Building on its strength in understanding catalyst structure-performance relationships, this group will seek major breakthroughs in catalyst and process design for both direct and indirect conversion of methane. By contrast, the Caltech team, led by Professors Jay Labinger and John Bercaw, will develop novel homogeneous catalytic approaches, building on work their group has pursued for several years.

The funding will partially support as many as eight faculty members and 30-35 research staff, graduate students and postdoctoral fellows at the two universities. As part of the grant, there will be frequently scheduled meetings and collaboration between the two groups.

Information in a number of supporting research areas, such as theoretical modeling, catalyst preparation, and process design, will also be shared, according to BP.

The two schools were selected based on their years of progressive research into catalytic conversion and on the reputation of their combined schools of chemistry and chemical engineering.

In accepting the grant, Caltech President, Dr. David Baltimore, a Nobel prize-winning biologist, said, ``The work performed will contribute to the education of a large number of young researchers, as it concurrently advances our ability to develop and exploit emerging technological and scientific concepts. It also enables us to broaden our base of funding for important scientific research that might otherwise go unexplored.''

``We applaud BP for its sincere efforts to bridge the gap between academia and the private sector in seeking ways to prevent the waste of natural resources and minimize environmental impact through research on converting natural gas to more economical and environmentally sensitive end uses,'' he added.

UC Berkeley's Chancellor, Dr. Robert Berdahl, said, ``We are excited about this integrated research approach to solving a complex scientific problem, which potentially could result in significant environmental, economic, and societal benefits. It is consistent with the type of public-private partnering we like to undertake. The educational aspects of the program will contribute to the preparation of talented young researchers and will enable them to interact with leading research groups and with projects at the forefront of science and technology.''

Berdahl added: ``The experience gained by the young men and women working on the program will contribute significantly to their preparation for a career in either industry or academe. In part, it is for just this reason that universities seek out private funding sources for their research programs.''

``From BP's perspective, partnering with leading educational and research institutions enables us to demonstrate responsible leadership while remaining on the cutting edge of scientific development, through funding projects that will not only benefit the company, but society, as well, while offering opportunities that can result in a cleaner environment and a stronger economy. That is very much the way we expect to pursue aspects of fundamental scientific research,'' said Browne.

He also said that BP feels that since liquefaction and shipping of natural gas are expensive, the conversion of its principal component, methane, into useful end products is very attractive. The economics of methane conversion are strongly related to the capital investment required. To some extent, high capital costs are a consequence of the small scale that has been envisioned for most processes.

An overall aim is a major reduction in the energy required for conversion, potentially leading to substantially lower emissions of greenhouse gases.

London-based BP, one of the world's largest oil, gas, and petrochemical companies and a leader in solar power generation, recently announced its ``Clean Fuels '40 Cities' 2000 Program'' dedicated to bringing cleaner fuels to cities worldwide.

For a menu of BP news releases or to retrieve a specific release, visit our web site at bp.com on the Internet.

SOURCE: BP
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