*Another piece of fanciful commercial drivel from the Carbon Engineering PR dept . **As was apparent from the recent paper by Keith et al, these fuels are not **"ultra low carbon" **as stated as it uses CO2 derived from burning natural gas (which isnt "clean" ) . In any case CE is not going to build any synthetic fuel plant as they have previously said that they are an intellectual property licencing company.*
*Nor will this the announcement of a plant be* "*the first in the world to commercially sell transportation fuels synthesized from air and clean electricity." **as Sunfire , Climeworks and Nordic Blue Crude AS announced a commercial synthetic fuel plant for air to fuel synthesis using renewable electricity in July of last year - * *( David Keith is the executive chairman of Carbon Engineering)* http://www.cleanfuelnow.com/single-post/2017/07/21/Norway-aim-to-lead-the-way-in-synthetic-fuel-production *Norway aim to lead the way in synthetic fuel production* 21.07.2017 | Samuel Polley <http://www.cleanfuelnow.com/blog/author/Samuel-Polley> Clean Fuel Now has written a lot about Blue Crude, the synthetic diesel, which is an alternative to the fuels that run our cars, planes and even space rockets. Plans have been unveiled to produce Blue Crude in large volumes in Norway by 2020. The plant will be located in the Porsgrunn, which is on the south coast of Norway. Nordic Blue Crude AS, who are launching the project, expect to produce 8000 tonnes of Blue Crude annually, which is the equivalent of supplying 13,000 cars with synthetic fuel and avoiding 21,000 tonnes of fossil CO2 emissions. They also expect to target a price lower than €2 litre. The process is a partnership between Sunfire <http://www.sunfire.de/> , Nordic Blue Crude AS <http://nordicbluecrude.no/>, Climeworks <http://www.climeworks.com/> and EDL plant construction, amongst others. The crude oil alternative, is produced entirely using water, green energy and CO2. Norway’s considerable and inexpensive hydropower resources, mean a perfect environment to produce the fuel. The CO2 will be sourced partly from Climeworks, capture the CO2 directly from the air. Gunnar Holen, CEO of Nordic Blue Crude AS, has outlined an ambitious plan to scale up the plant by 10 times after they have gained enough experience from the first 10 million litre capacity. Nordic Blue Crude AS, who have exclusive rights in Norway and Sweden, then plan to launch 10 more plants across the region. Blue Crude is the ultimate circular economy product, which is not only useable in our vehicles, but also in thousands of products such as, plastic based products, chewing gum, shoes and smartphones. By mining CO2 out of the air, and using renewable energy, many of the products we use in our daily lives can become significantly more climate friendly, and our transportation systems will be less of a burden on the climate. On Friday, July 13, 2018 at 8:12:53 AM UTC+1, Andrew Lockley wrote: > > > > https://globenewswire.com/news-release/2018/07/12/1536582/0/en/Carbon-Engineering-raises-11M-to-commercialize-its-technology-that-creates-clean-fuel-from-air.html > > > > Carbon Engineering raises $11M to commercialize its technology that > creates clean fuel from air > *July 12, 2018 09:00 ET *| *Source:* Carbon Engineering > > Squamish, BC, July 12, 2018 (GLOBE NEWSWIRE) -- *Carbon Engineering > raises $11M to commercialize its technology that creates clean fuel from > air* > > *Squamish, B.C.* – *July 12, 2018 *– Carbon Engineering Ltd. (CE) > announced today it has raised gross proceeds of CAD $11 million in its > recently closed convertible loan bridge financing round. This investment > provides the funding for CE to expand its existing pilot plant and design > its first commercial AIR TO FUELS™ plant, which will be the first in the > world to commercially sell transportation fuels synthesized from air and > clean electricity. > > The $11 million convertible loan bridge financing round was raised from > both existing CE stakeholders, including board members and employees, and > from new investors. This financing was concluded in anticipation of an > equity financing, which is expected to be completed as soon as possible. > > “We’ve seen a very high level of interest and have had to ask many > interested investors to wait for future investment rounds,” said Steve > Oldham, CEO of Carbon Engineering. “The response we’ve seen signals a big > step forward not only for CE, but for the wider carbon capture and advanced > fuels industry, as the scope and size of the business opportunity these > technologies offer becomes clear. > > “For CE, this investment enables us to aggressively accelerate our > go-to-market strategy. We are now actively seeking strategic partners to > work with us to build full-scale commercial facilities and customers > interested in supply agreements for our ultra-low carbon fuel.” > > Closing of the bridge financing round comes just over a month after the > firm released research showing that its Direct Air Capture technology – > demonstrated in CE’s existing pilot plant – can capture CO₂ from the > atmosphere at scale for less than USD$100 per ton. This price point, > coupled with recent advances in renewable electricity, is what enables the > economic viability of CE’s AIR TO FUELS™ process and the ultra-low carbon > fuels it can produce. > > The proceeds will be used to expand the company’s working pilot plant in > Squamish, B.C and to establish the design and partnerships for the > company’s initial commercial AIR TO FUELS™ plants. A full commercial AIR TO > FUELS™ facility will be capable of producing 320,000 litres of synthetic > fuel per day, and capturing one million tons of CO₂ per year – the > equivalent of the annual emissions of 250,000 average cars. > > The financing indicates a period of strong growth for CE, also evident in > the company’s increased headcount. Within the last six months, CE has seen > a 33 per cent rise in full-time staff numbers with new positions spanning > operations, engineering, research and development, business development, > and public relations and marketing. The company plans to continue building > its employee base in 2018 as it accelerates towards commercial deployment. > A list of current opportunities can be found on the company’s website > <https://www.globenewswire.com/Tracker?data=jQTglKwJHXoV4PpB-icS9IrPkGX2RDvbQ7oajjE7Vnku7uEufwMdhm9Q3hNkIEi1be9PJdW0XKvnD1sxE2CljwU8ThOzrHYE7IWjufygsS0=> > . > > # # # > > *About Carbon Engineering (CE):* > Founded in 2009, CE is a Canadian-based clean energy company leading the > commercialization of groundbreaking technology that captures CO₂ directly > from the atmosphere, and synthesizes it into clean, affordable > transportation fuels. From a pilot plant in Squamish, B.C., CE has been > removing CO₂ from the atmosphere since 2015 and converting it into fuels > since December 2017. > > Yulu Public Relations > Charlotte gilmourc...@yulupr.com <javascript:> > 1-604-558-1656 > > -- You received this message because you are subscribed to the Google Groups "geoengineering" group. To unsubscribe from this group and stop receiving emails from it, send an email to geoengineering+unsubscr...@googlegroups.com. To post to this group, send email to geoengineering@googlegroups.com. Visit this group at https://groups.google.com/group/geoengineering. For more options, visit https://groups.google.com/d/optout.
