Accelergy Partners With Yankuang Group to Conduct Feasibility Study for Large-Scale Coal-to-Liquids Plant in China
press release
Sept. 28, 2011, 9:04 a.m. EDT
marketwatch.com
Company's first commercial plant in China will produce 68,000 barrels of fuel daily
HOUSTON, Sep 28, 2011 (BUSINESS WIRE) -- Accelergy Corporation, a global leader in the production of clean, high-grade, synthetic liquid fuels, announced today a partnership with the Yankuang Group for a large-scale, low carbon, hybrid coal-to-liquids (CTL) plant. The plant will produce approximately 68,000 barrels of fuel per day, and construction of the project is expected to start as soon as feasible.
The facility, located in Erdos in China's Inner Mongolia Province, will utilize a hybrid configuration of Accelergy's Micro-catalytic Coal Liquefaction (MCL) system and Yankuang's proprietary Fischer Tropsch indirect liquefaction system. By incorporating Accelergy's TerraSync(R) terrestrial sequestration system--a carbon capture and recycle process--the integrated project will achieve a thermal efficiency in excess of 60 percent and achieve a 100 percent reduction in CO2 emissions.
"As China's economy continues to grow, so does the demand for high quality synthetic fuels needed to power its fleets. Our partnership with Yankuang will provide domestically sourced fuels with a low carbon footprint to meet this market need," said Timothy Vail, CEO of Accelergy. "Accelergy's technologies, combined with Yankuang's execution skills, bring next-generation coal-to-liquids plants online in China."
The facility--Accelergy's first commercial coal-to-liquids facility in China--will produce a mixture of distillate fuels including gasoline, diesel and jet fuel. Accelergy recently began fuel production at its pilot facility at the Beijing Research Institute for Coal Chemistry (BRICC), which is the only testing facility that can certify coals for Accelergy's large-scale coal-to-liquids projects.
Yankuang Group, one of the largest coal companies in China, will be leading the feasibility study effort. The company is engaged in various sectors, but focuses its coal operations on production, sales and coal-to-chemicals. Its subsidiary company, Yanzhou Coal Mining Company Limited, is listed on New York Stock Exchange, Hong Kong Stock Exchange and Shanghai Stock Exchange.
"We aim to increase coal utilization efficiency, reduce CO2 emission and add to the development of an integrated circular economy. This is in line with China's high-tech coal chemical development trend, and complies with China's energy saving and environmental protection policies as well," said Zhang Minglin, vice general manager of Yankuang Group Company Limited.
Currently the world's largest producer and consumer of coal, China's output for coal-to-liquids is expected to jump from 1.5 million tons in 2010 to 30 million tons in 2020, according to a recent report on the global CTL market from Market Avenue. Accelergy's Direct Liquefaction process offers China a solution that produces less carbon dioxide than traditional petroleum refining and has a significantly higher overall efficiency than conventional CTL technologies. The result is cleaner fuels that reduce greenhouse gas emissions, as well as traditional sulfur, nitrogen oxide and particulate emissions.
About Accelergy Corp.:
Accelergy is a global leader in producing economic low carbon synthetic fuels, promoting energy security by using domestic resources. Our proprietary suite of catalytic synthetic fuels technologies significantly increases the efficiency of the conversion processes while our TerraSync(R) terrestrial sequestration technology reduces greenhouse emissions. Based in Houston, Texas, Accelergy has established an international presence in partnerships with some of the world's leading energy companies. For more information, please visit www.accelergy.com .
SOURCE: Accelergy Corporation
====
Based on what I've seen on their web site, Accelergy Corporation does not appear to be a publicly
traded company. |
