Accelergy Technology Develops Cleaner Fuels And Chemicals Using Coal
SAN JOSE, Calif.--(BUSINESS WIRE)--Accelergy Corporation, a leading alternative energy technology company, today announced the launch of its commercial integrated coal to liquids (ICTL) fuels program aimed at producing cleaner fuels and chemical products from abundant coal resources.
"Accelergy is revolutionizing the alternative fuel debate," said Vic Sprenger, CEO of Accelergy. "Bypassing entirely feedstocks that compete with food, Accelergy combines novel catalytic materials and process technologies with abundant supplies of coal—more efficiently producing fuels while utilizing process CO2 to produce additional liquid fuel products. Given the price of oil, rapidly depleting petroleum reserves, and national security concerns, coal must play a major role in meeting future demand for global transportation fuels."
"Accelergy has come up with a radically new approach to making liquid fuels from coal," said leading energy and environment scientist Dr. Bernie Bulkin, member of Accelergy's Board of Directors. "Coal to liquids technology such as this can really change the picture of energy security and diversity of supply for many key countries, while not exacerbating the greenhouse gas problem associated with liquid fuels. The quantities we are talking about from this technology are enormous and will have a major effect on oil markets."
With an estimated 1 trillion tons of coal reserves worldwide, experts believe coal to liquids could be an important alternative fuel source in coming years. Companies like South Africa's Sasol already generate more than $10 billion in annual revenues converting coal into liquid fuels and chemicals. Historically, the principal issues preventing broader global adoption of CTL have been production efficiency and environmental impact. Accelergy applied its proprietary advanced R&D methods and domain expertise to find transformative solutions to both problems.
Accelergy's world-class team brings decades of experience in catalytic materials and coal conversion technologies, with expertise from corporations including Engelhard and ExxonMobil. Accelergy's state-of-the-art ICTL technologies yield higher overall thermal efficiency, lower CO2 footprint and lower unit costs than current coal to liquid options. The company's process directly produces a tunable range of fuels from gasoline to diesel to high quality synthetic jet fuel. Accelergy is backed by leading cleantech investors including Advent International, Goldman Sachs, Lux Capital, Mobius VC, Nth Power, Sequoia Capital China and Technology Partners.
About Accelergy
Accelergy creates ultra-clean fuels from abundant coal resources. Our proprietary catalytic and process technologies significantly reduce greenhouse gas emissions in the production of high quality fuels. With offices in the U.S. and China, Accelergy has established a global presence in partnership with some of the world's leading energy companies. Visit www.accelergy.com for more information.
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