HTC Purenergy and Global Energy Inc. Complete the Formation of a CO2 Management Company to Deliver Sequestration and Enhanced Oil Recovery Solutions to United States Gasification Facilities.
Cincinnati, Ohio Global Energy, Inc. (GE Inc.), a leading environmental technology company with gasification and advanced fuel technology expertise, and HTC Purenergy (TSXV: HTC), an energy technology company that is commercializing CO 2 capture and storage (CCS) technologies for enhanced oil recovery (EOR), completed the formation of Carbon Management Technologies LLC (CMT). CMT will deliver CO 2 management, sequestration and EOR solutions to gasification projects and facilities in the United States.
Cincinnati-based CMT will develop and execute a comprehensive Carbon Management EOR/Sequestration strategy that will demonstrate the clear opportunity to value CO 2 and will manage it to the highest environmental and economic standards. CMT will immediately facilitate a 25-year oil production opportunity and the future development of one of America’s largest enhanced oil recovery fields in Ohio. Global Energy will facilitate the supply of CO 2 to these Ohio oil fields by providing access to an anticipated 2.8 million tons per year of CO 2, planned to be captured from Global Energy’s Lima OH gasification facility, which is currently under construction. In addition, CMT will assess and evaluate other oil fields in the U.S. where the gasification/CO 2/EOR model can be implemented.
Commenting on the formation of Carbon Management Technologies, Harry H. Graves, President and CEO of Global Energy, Inc. said, “We recognize that a carbon constrained economy is rapidly emerging, creating opportunities for us to take a leadership role in bringing CO 2 management programs to major energy companies in the U.S. HTC Purenergy has developed a broad range of unique, proprietary CO 2 management solutions, making them a natural partner to work with us in developing and branding a new CO 2 management and EOR/sequestration company to provide comprehensive solutions to U.S.-based gasification projects.”
Among the technologies licensed by HTC Purenergy to CMT are:
- Carbon Vault ® – for the injection of CO 2 into saline aquifers, unmineable coal beds and retired oil and gas fields
- EOR Max ® - for the provision off end to end solutions for CO 2 into oil fields requiring improved oil viscosity and miscibility production enhancements
- Global Carbon Audit Centre ® - for the sequestration storage processes and validation of on-site carbon storage providing future approved Carbon Credits Certificates and/or Carbon Emission Reduction Certificates.
“Global Energy is a leader in developing and commercializing environmental technology and we are very pleased to have this opportunity to work with them in creating a new U.S. market leader in CO 2 management, sequestration and EOR solutions for upstream gasification projects,” said Lionel Kambieitz, CEO of HTC Purenergy. “GE Inc. is building a portfolio of IGCC and synthetic gas facilities. The facilities now will have the leading CO 2 management to complete the all encompassing clean energy offering,” continued Mr. Kambeitz.
About Global Energy, Inc.
Global Energy, Inc. is an Environmental Energy Technology Company with Gasification Technology expertise. Gasification Technology provides an Ultra Clean High Tech and low cost method for producing Power, Gas, Transportation Fuel and Hydrogen by the closed system BTU Conversion of solid hydrocarbons including coal, petcoke, and renewables. The Company has optimized operating techniques and is able to produce synthetic gas at costs well below market prices for pipeline gas. The Company is focused on 3 Projects representing 323 BCF/YR or 55.7 million BOE/YR. The Company plans to build, own, and operate a portfolio of BTU Conversion facilities and currently owns solid hydrocarbon fuel reserves representing 7.0 TCF of natural gas equivalents or 1.2 Billion BOE.
About HTC Purenergy
HTC Purenergy (TSXV: HTC) is a publicly traded company that works in collaboration with the world-renowned University of Regina (Saskatchewan) Greenho use Gas Technology Centre and the International Test Centre for CO 2 Capture, which represents over 15 years of continuous development and testing in CO 2 Capture/Management/Sequestration. HTC Purenergy’s CO 2 Management Technologies enable the complete provision of end-to-end Clean Energy Technology utilizing America’s vast Solid Hydrocarbon Resources (900 Billion BOE).
Global Energy, Inc.
Suite 2300, 312 Walnut Street, Cincinnati, OH 45202 USA
Tel: (513) 621-0077 Fax: (513) 621-5947
www.GlobalEnergyInc.com
H Lee Reichart
hlreichart@globalenergyinc.com
(513) 562-1856
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