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Sunday, August 17, 2014

High priced natural gas from bargain priced coal

GreatPoint Energy produces clean, low cost natural gas from coal, petroleum coke, and biomass utilizing its bluegas™ catalytic hydromethanation process.

Carbon plus water producing methane plus carbon dioxide
Carbon plus water producing methane plus carbon dioxide
GreatPoint Energy's coal gasification technology appeals to China because it allows them to keep using cheap domestic coal, but in a much cleaner manner.

In 2012, GreatPoint announced a $1.25 billion deal to build the first of 34 coal gasification plants in a remote, coal-rich part of China.

The total project will cost an estimated $20 - 25 billion and will supply one trillion cubic feet of natural gas a year.

This represents a massive leap in the scale of domestic production for China, which last year produced only 107 billion cubic feet of natural gas.

The deal includes an equity investment of $420 million, the largest ever by a Chinese corporation into a venture-capital-funded U.S. company.