Future Fuels has entered an agreement to exchange and share technical information with China's Thermal Power Research, Inc. (TPRI). Owned by a consortium of electric utilities, TPRI's majority stakeholder is China's largest power company, Huaneng Power Group (NYSE:HNP.
Future Fuels Announces ‘Near-Zero' Emissions Technology Sharing Agreement with TPRI's GreenGen of China
Pact Accelerates Adoption of Climate Change Technologies Worldwide
Houston, TX - September 17, 2009 - Future Fuels has entered an agreement to exchange and share technical information with China's Thermal Power Research, Inc. (TPRI). Owned by a consortium of electric utilities, TPRI's majority stakeholder is China's largest power company, Huaneng Power Group (NYSE:HNP).
The Memorandum of Understanding (MOU) agreed to by Future Fuels and TPRI paves the way for US-Sino cooperation to accelerate commercialization of key technologies to address pollution and climate change. Future Fuels will offer access to all relevant information from its Good Spring, PA, Integrated Gasification Combined Cycle (IGCC) facility, while TPRI will similarly share information from its GreenGen IGCC facility in Tianjin, China.
"After so many years of deep research and development, we are pleased to see near-zero emissions coal gasification electricity plants become a reality. The cooperation between GreenGen and Future Fuels will certainly accelerate progress in the areas of efficiency, cost, and adoption of key climate improving technology around the world," stated Dr. Xu Shisen, Chief Technology Officer of TPRI.
TPRI's GreenGen facility is a 250-megawatt electrical plant designed to be China's most efficient and environmentally friendly coal consuming project with carbon sequestration. GreenGen is currently under construction and intends to commence operations in 2011.
"The agreement represents the logical next step after years of work to deliver the United States a state of art power solution with climate change objectives firmly at the forefront. TPRI will be an integral part of making this the environmentally cleanest footprint of any IGCC in the world," said Raj Suri, CEO of Future Fuels.
The Good Spring IGCC project expects to deliver 270-megawatts of electricity while capturing over 50 percent of the CO2 output initially and nearly 100 percent by 2020.
"Good Spring IGCC could exceed the Energy Policy Act of 2005 (EPACT) standards nearly a decade ahead of the plan," continued Mr. Suri. "The construction of the facility will take place in a high-demand electricity market in the United States and we expect to create more than 1,000 construction positions and several hundred ongoing jobs to operate the plant."
About Future Fuels:
Houston-based Future Fuels LLC develops clean coal gasification projects around the world. It holds land, coal reserves, technology licenses and other project related assets. Future Fuels is the controlling shareholder and chief developer of Good Spring IGCC, an electricity plant with carbon dioxide sequestration capabilities. For more information, visit www.futurefuelsllc.com.
About TPRI and Huaneng Power Group:
With over 100 Gigawatts of power generation and nearly 150 plants wholly or partially managed by the company, Huaneng Power Group is one of the top 10 largest power utilities in the world. As controlling owner of the Thermal Power Research Institute (TPRI), Huaneng manages the near-zero emission coal electricity plant called GreenGen in Tianjin, China.
Mr. Ray Young
Halldin Public Relations
Mr. Albert Lin
Director - Future Fuels LLC