Boosted by International and Australian Recognition
Sydney, Nov 17, 2014 AEST (ABN Newswire) - Greenearth Energy (
ASX:GER) (GGYLF:OTCMKTS) is a diversified Australian renewable energy company focused on a potentially world changing technology to convert CO2 into a fuel and an international energy efficiency business that is building an impressive customer base.
After completing a placement and share purchase plan in June 2014, the management team at Greenearth Energy has begun funding its NewCO2Fuels (NCF) investment and growing the capabilities and revenue of its Industrial Energy Efficiency team.
"Overall as a business, Greenearth is progressing fantastically well following a capital raising which was well supported," Greenearth Energy, Managing Director, Samuel Marks told The Australian Investor.
"We are already seeing good results from the funds that we have deployed since the raising. A portion of it is going into NewCO2Fuels and towards our new investment of 33.33 per cent, in order to take it through to the next stage of funding and growth. The other portion we have been investing in successfully growing our energy efficiency business."
NewCO2Fuels (NCF)
NCF is an innovative technology providing a cost-effective solution to two global challenges: CO2 emissions and diminishing liquid fuel reserves.
The product uses a proprietary technology that generates liquid fuels from CO2 emissions and water as feedstock, and high-temperature heat sources such as excess heat from energy intensive industries and concentrated solar energy to drive the process.
NCF converts CO2 and H2O into syngas and from it creates synthetic transportation fuels or chemicals using presently available technologies.
A blue-sky technology in terms of market potential, NCF offers future liquid transport fuel alternatives that are 100 per cent renewable as well as reducing the emissions intensity of non-renewable fuel paths.
This week, Greenearth announced two key external validation landmarks. The Australian Government's Bureau of Resources and Energy Economics (BREE) included NCF as part of their analysis of liquid transport fuels and the United States Department of Energy (DoE) announced the funding of a collaborative project between the European conglomerate, Alstom, NCF and the Illinois Clean Coal Institute to develop a concept for the conversion of coal to high-hydrogen syngas for power generation and/or liquid fuel production.
The Alternate Liquid Fuel Technology Assessment (ALFTA) report provided an independent review of only one configuration of NCF technology, the 100 per cent renewable liquid fuel model.
"The ALFTA study was looking at what are the top 20 liquid fuels for Australia over the next 50 years. Within that study they selected NCF fuels as two of the potential options," Mr Marks said.
The two NCF alternatives to current petroleum based liquid transport fuels included solar energy to DME (dimethyl ether) a clean, colorless gas that is easy to liquefy and transport and a clean burning alternative to LPG, diesel and gasoline.
The second, solar energy to MTG is a "Methanol to Gasoline" process.
NCF's technology was the only technology in the report converting solar energy to fuel.
"While this solar to liquid fuel model is just one of our paths to commercialisation, to receive this recognition from the Australian Government is extremely rewarding for the NCF team," Mr Marks said.
One of the other models which is currently been validated is the excess heat liquid fuel model. One version of this will be further developed in partnership with Alstom and the Illinois Clean Coal Institute. This collaboration is focused on the gas to liquids process.
"We believe NCF's technology has the potential to provide an alternate and renewable source of transport fuels which could play an important part in reducing the worlds, CO2 emissions and improving Australia's transport fuel security."
About Vivid Technology Ltd
Vivid Technology Limited (ASX:VIV) is a diversified Australian-based company with interests in technology focused solutions in the industrial energy efficiency and CO2-to-fuel conversion markets.
