An Australian-based company has acquired the Asia-Pacific rights to the world's most advanced carbon capture and storage system.
EESTech Inc., (EESH.OB) which is based in Brisbane, Australia and is publicly traded on the US Bulletin Board, has secured the rights to HTC Purenergy's world leading CO2 capture management technologies for the Australasian region.
The system, called the Purenergy CO2 Capture System (CCS), is the world's first pre engineered, modular CO2 capture system, which can be retrofitted onto existing power plants or any large industrial greenhouse gas emitter.
EESTech has a complementary technology in its Hybrid Coal Gas Turbine (HCGT) system that can produce electricity using waste coal dust, and fugitive vented methane.
The company has secured electricity supply agreements in China with contract revenue potential of over $100 million for each installed system.
The HCGT and the Purenergy CCS can be integrated to become the world's first stand-alone hybrid CO2 capture system that is non-disruptive to industrial emitters' plant. The integrated package will allow coal facilities to utilize products such as low grade waste coal and fugitive methane from coal mines to efficiently generate the necessary steam and electricity and electricity for the C02 capture process.
EESTech's preliminary analysis indicates that the successful integration of the HCGT process with HTC's CCS system could reduce the cost of C02 capture by up to 40 percent.
In China, EESTech with their Hybrid Coal and Gas Turbine ("HCGT") systems has signed model power purchase and fuel supply agreements. These agreements have a contract revenue potential of over $100 million for each installed system.
Graeme Lynch Chief Operating Officer of EESTech Inc., believes that the carbon capture technology will position EESTech Inc as a leader in the industry.
"This acquisition will position EESTech Inc. as a leader in this fast- growing marketplace and as a provider of clean coal and carbon capture technologies that are economically and environmentally sustainable," Mr Lynch said.
"The Purenergy CCS will capture carbon dioxide from the flue gas exhaust of power plants and large industrial emitters, the captured carbon dioxide will then be used for carbon dioxide enhanced oil recovery or be stored underground," he said.
"This system will be pre-engineered, pre built and modularly constructed and because of its modular design, will be able to be manufactured, shipped and erected at the emitter sites around the world at a much lower cost than other systems that have to be custom built on site.
"Solutions like the Purenergy CCS, when installed in scale on one 750 megawatt power plant, will capture the carbon dioxide equivalent of two million cars and trucks," Mr. Lynch added.
Other products from EESTech Inc. include the JetWater System (JWS), which is a mechanical vapour compression system that purifies water.