DGAP-News: Astra Resources Plc: Astra announce first step in acquisition of patented clean coal technology for fuel production, coal gasification and power generation
(firmenpresse) - DGAP-News: Astra Resources Plc / Key word(s): Joint
Venture/Miscellaneous
Astra Resources Plc: Astra announce first step in acquisition of
patented clean coal technology for fuel production, coal gasification
and power generation
06.03.2012 / 16:30
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Astra announce first step in acquisition of patented clean coal technology
for fuel production, coal gasification and power generation
Adelaide, Australia - March 6 2012: International diversified resource
company, Astra Resources (FWB Code: 9AR), has signed a joint venture
agreement for an innovative and patented clean coal conversion technology.
The agreement, between Astra's subsidiary, Astra Energy Technologies Pty
Ltd (AET), Interecotech Pty Ltd (IET), CG Technologies Pty Ltd and
Sevastyanov Vladimir Petrovich, will result in AET retaining a 75 per cent
stake in the Joint Venture Company and strengthening the company's
portfolio in the field of power generation using commercially proven clean
coal technology.
AET will be acquiring its 75 per cent stake in the Joint Venture Company
through primarily scrip (issued by its parent, Astra Resources Plc), and is
subject to the satisfactory completion of a due diligence period agreed
between the Joint Venture parties. This scrip issue is intended to be
within the existing Astra capital structure.
The technology pertains to the scientific process required for the
manufacture of Activated Coal Water Fuel (ACWF) and the gasification of
that fuel to create hydrogen enriched Syngas, which can be used as a
cheaper alternative for generating electricity in modern power stations.
Astra CEO Dr Jaydeep Biswas says the company has been actively seeking an
innovative clean coal conversion technology to add to its intellectual
property bank as part of its broader business strategy.
'IET have developed a patented environmentally friendly and cost effective
technology utilising poor quality coals for the production of ACWF and low
cost hydrogen enriched Syngas, which offers a long-term alternative to oil
and is an attractive fuel for the power generation industry,' Dr Biswas
says.
'Any type of coal can be used as feedstock for ACWF, with low quality
Lignite or brown coal being ideal.
'This creates greater energy independence for developing countries which
frequently have low quality thermal coal reserves and at present import
black coal or diesel for their power generation requirements.
'Astra's coal conversion strategy will enable countries with a heavy
reliance on importing costly high quality coal, which is unsustainable in
the long term due to import expense and process, to use locally mined brown
coal reserves for power generation thus significantly reducing generation
costs.
'These brown coal reserves, which have a low, nil or negative value, will
also in-turn provide a significant mining opportunity for Astra resulting
and a win-win situation.
'This will have an immediate and profound effect as the coal conversion
technology will help turn low quality coal reserves into a useable
product.'
The cost difference between brown and black coal can be as high as $80-100
per tonne, if based on today's prices, without taking into account the
costs of logistics of transporting black coal from producer country mines
to developing country power stations, which normally has a sequence of
rail-port-shipping-port-rail; this logistics cost can sometimes be as high
as the value of the black coal.
The development of modern coal water fuels by IET began in the late 1980's
in Russia. The technology was further developed by IET's scientists and
engineers in order to produce energy of even higher specifications, but was
never marketed under the name of ACWF (currently a trade mark pending
registered product). The technology has been used commercially in
Novokuznetsk, Russia.
The technology is a bolt-on device for existing power stations to process
low quality coal as an alternative to diesel, fuel oil and black coal.
For a 300MW black coal or diesel fuelled power station, the bolt-on device
is expected to cost $ 40 million. Astra does not intend to get into
stand-alone power generation, but will seek revenues from providing the
technology, royalty and operating cost savings due to higher efficiency and
lower fuel/logistics costs to existing power stations.
The technology is based on ultrasonic chemistry, activating coal water
mixtures so coal behaves as a liquid, which provides cleaner and higher
efficiency combustion. The process has undergone 30 years of development
and while it was patented in late 2011 the know-how is believed to be
nearly impossible to replicate.
The IET coal water fuel can be used in pulverized coal combustion (PCC)
plants with great economic and environmental benefits, including:
- Significant reduction of greenhouse and noxious gas emissions CO2, NOX,
SOX
- Minimising slagging of the boilers using high ash coals
- Significantly more efficient use of available energy from carbon and
volatiles in the raw material compared to other processes which
underburn both carbon and volatiles
- Reduction of energy input for coal preparation
- Reduction in coal preparation plant size to approximately one third of
standard size
- Reduction in capital operating costs
- Reduction in fuel and import costs
The presence of water in ACWF also makes the resulting product explosion
proof, and as the process converts the coal into a liquid form, delivery
and dispensing of the fuel can be simplified.
Using ACWF technology, 20-30% less coal is required for the same MW output
compared to a power plant which does not use ACWF using the same coal.
Additionally, the efficiency of the ICSGCC (3 Cycles) technology, utilising
brown and/or black coals is estimated to be in the range of 80-85%, CO2
emissions 0.40-0.38t/MWh.
IET's key staff includes the senior scientists and engineers who spent over
thirty years on the testing and development of the technology and have
extensive experience in operating the ACWF production plant.
Astra Managing Director Silvana De Cianni says with increasing reliance on
global oil and natural gas resources, IET's patented technology offers a
cost effective and clean coal based alternative for heating and power
generation.
'By reducing the cost of the feedstock and importation with the utilisation
of coal instead of oil and gas, overall costs to produce heat and
electricity are at least halved,' Ms De Cianni says.
'The high-energy coal water based fuel produced by this cutting edge
process can be immediately used to replace heavy oils in oil-fed boilers of
any size for heating and power generation.
'Depending on the geographical area the price per unit energy of IET's coal
water fuel may be 30 per cent to 70 per cent lower than the equivalent oil
or gas.
'Heavy oil boilers are prevalent in developing countries and IET's
technology provides a fantastic low cost alternative in these markets.'
ACWF has prospective growth potential for the Central European region, with
vast resources of brown coal and a high demand for low emission production
of electricity, and a number of potential users in South East Asia, such as
India, the Philippines and Cambodia, along with Africa and Australia have
welcomed the planned opening of the ACWF plants, indicating their intention
to purchase the full initial output.
Dr Biswas says Astra has the advantage of being able to receive quality
returns on its proposed investment acquisition in a relatively short time
frame as the first commercial plant outside of Russia will be able to begin
production 12 to 24 months after the acquisition of the IP is completed.
'With this new joint venture, Astra signals its intention to become a major
player in meeting increased global demand for electricity and addressing
the challenges of global warming,' Dr Biswas says.
Ms De Cianni says various plants have produced and tested ACWF with
excellent results.
'It is expected that customers will be able to convert PCC plants to ACWF
utilising IET coal preparation and combustion technology with very low
capital costs in a short space of time,' Ms De Cianni says.
'While upgrades are not required, modular diesel engine power plants
burning ACWF can be slightly modified to make them economically competitive
with natural gas.
'The initial and guaranteed market will serve as a parallel springboard for
the quick introduction of the next step, Coal Slurry Gasification.'
The thermal and chemical properties of the ACWF produced mean higher rates
of reactivity when fed into gasification or combustion reactors, with
remarkable results in gas composition and heat produced.
ACWF acts as a super-charged feedstock, and can also be used for high
yield, low emission production of syngas, the basis for a revolutionary new
type of IGCC process.
The syngas produced utilizing this technology can be used for direct
combustion in converted coal or oil-fired boilers, coal-to-liquid fuel
production, electricity generation, and can replace natural gas to produce
heat.
Using brown coal from Australia's Latrobe Valley in Victoria and IET
gasification technology, the estimated syngas production cost is $1 to
$2/GJ, depending on the size of the gasification and price of coal.
In comparison to some other energy producers, Astra has access to a large
pool of engineers and scientists, all of who have decades of experience in
coal conversion technologies in Russia and Australia.
In-depth details of all processes and accompanying knowhow of the
particular Integrated Coal Slurry Gasification Combined Cycle
(ICSGCC)process, and employment of all key scientists forms an integral
part of the Intellectual Property acquired through the joint venture.
Astra has acquired all documentation and knowhow of the technology which is
covered by non-disclosure and confidentiality agreements, and will make
this available to potential investors and partners.
To read more about Interecotech's coal conversion technology, click here.
Astra Resources' global portfolio includes gold interest in Southeast Asia,
coal mine in Africa, iron ore in India, Norway and the Philippines, the
production of the high-strength T-Steel technology in Hungary,
carbon-efficiency businesses and the provision of mining services housing
in Rockhampton, Queensland.
For more information visit www.astraresources.co.uk.
ENDS
For all media enquiries contact
Bruce Nelson +61 (0) 423 403 449 (bruce(at)zakazuhka.com)
Caitlin Petrou +61 (0) 402 823 343 (caitlin(at)astraresources.com.au)
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express
management's expectations or estimates of our future performance constitute
'forward-looking statements' within the meaning of applicable securities
laws. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by management
at this time, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. Investors are cautioned not to
put undue reliance on forward-looking statements. Except as required by
law, Astra Resources PLC does not intend, and undertakes no obligation, to
update any forward-looking statements to reflect, in particular, new
information or future events.
End of Corporate News
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