New Demonstration Project Announced
Tuesday, June 24, 2008Fredericton, NB (June 24, 2008)-- Atlantic Hydrogen Inc.(AHI), a clean energy technology developer, is launching a large-scale demonstration project of its CarbonSaverTM technology, which creates a lower emissions natural gas fuel. The three-year, $10 million demonstration project will focus on validating the technology at commercial pressures and flow rates, placing a value on the extracted carbon and developing a commercialization strategy.
EnCana Corporation (TSX, NYSE: ECA), through its Environmental Innovation Fund, is contributing $3 million to the project and the Province of New Brunswick, through the Climate Action Fund and Canada's ecoTrust for Clear Air and Climate Change, is contributing $2 million. This demonstration project represents the final phase in Atlantic Hydrogen's preparation of the CarbonSaverTM for commercial markets.
"The funding from this new partnership will help us advance CarbonSaverTM towards commercial application by supporting tests of the technology's capabilities on a significantly larger scale," says David Wagner, President and CEO of AHI. "At the completion of the demonstration project, CarbonSaverTM is expected to be ready for use in power plants, compressors, natural gas vehicle refueling and even home and commercial heating."
Natural gas is already among the world's cleanest burning energy sources and CarbonSaverTM has the potential to make it even more environmentally friendly by further reducing carbon dioxide and nitrogen oxide air emissions from natural gas combustion. Attaching CarbonSaverTM to a natural gas fuel line creates hydrogen enriched natural gas (HENG) as it extracts solid carbon and reduces CO2 emissions. The removed carbon can then be sold for use in products such as inks, dyes and plastics.
"The Government of New Brunswick is pleased to make this significant Climate Action Fund investment in this project," says Minister of Business New Brunswick Greg Byrne. "This technology has the potential to be highly effective in helping our province to reach the goals of the New Brunswick Climate Change Action Plan, achieve environmental sustainability and remain positioned to be self-sufficient by 2026."
"EnCana is committed to finding ways to reduce greenhouse gas emissions through the development of new technology," says Larry Weiers, EnCana's Vice-President of Energy Technology and Research. "Our Environmental Innovation Fund allows us to develop partnerships with companies, such as Atlantic Hydrogen, that are on the leading edge of creating innovative solutions that result in cleaner and lower emissions."
The three-year demonstration project is scheduled to start this summer. The results are expected to lead to the commercialization of the CarbonSaverTM technology and the emergence of Atlantic Hydrogen as a leader in clean energy technology development.