“Carbon capture is a critical technology to move us to a clean energy future and Inventys has developed a practical, compact, and low cost system that allows existing fossil fuel power plants to dramatically lower their carbon emissions,” Dr. Chu said. “I look forward to serving on their board and helping guide the company forward.”
The Inventys system, called VeloxoTherm™, uses significantly less energy than competing systems, and this, combined with low capital costs, results in a capture cost of about $15 per ton of CO2, less than 1/5th the cost of current processes. In addition, the Inventys system is less than 1/10th the size of competing systems and is small enough to retrofit to existing power plants by connecting it directly to the flue stack.
Dr. Chu is currently the William R. Kenan, Jr. Professor of Physics and Professor of Molecular and Cellular Physiology at Stanford University. Before serving as Secretary of Energy in the first Obama administration, Dr. Chu was Director of the Lawrence Berkeley National Laboratory (LBNL) and Professor of Molecular and Cellular Biology at the University of California, Berkeley. Dr. Chu won the Nobel Prize in Physics in 1997 for “development of methods to cool and trap atoms with laser light.”
Andre Boulet, CEO of Inventys, said “Dr. Chu brings an incredibly broad expertise to Inventys — from molecular interactions to the macroeconomics of energy systems, and everything in between. We are thrilled to have him join our board.”
“I have been admiring Dr. Chu’s work since he led LBNL to preeminence in energy research. His deep knowledge and broad experience will bring tremendous value to Inventys,” said Dan Miller, Managing Director of The Roda Group, the lead investor in Inventys and the largest private investor in renewable oils company Solazyme.
The Inventys VeloxoTherm™ system is based on a Low Pressure Thermal Swing method. Put simply, a slowly rotating structure holds a proprietary material that traps carbon dioxide when it is cool and releases it when it is hot. On half of the rotation cycle, flue gas from the power plant is passed through the material and the CO2 in the flue gas is captured. On the other half of the cycle, steam is injected into the material to release the CO2, the leftover steam is condensed out leaving pure CO2, and the material cools down to be ready for the next cycle. The CO2 is then pumped underground for CCS or EOR applications, or used as a feedstock for chemical manufacturing or other industrial applications.
Inventys Thermal Technologies is based in Vancouver, Canada. The development of its technology is being supported by Sustainable Development Technology Canada, Alberta’s Climate Change and Emissions Management Corporation, and the National Research Council. More information about the company is available at http://www.inventysinc.com.
For more information, contact:
Andre Boulet, CEO
Inventys Thermal Technologies
SOURCE Inventys Thermal Technologies
For further information:
Ed Davey announces new £20 million ETI project to develop and demonstrate advanced carbon capture technology for gas-fired power stations
The Secretary of State for Energy and Climate Change, Ed Davey, has today launched a new technology project which could see up to £20 million being invested by the Energy Technologies Institute (ETI) to develop and verify advanced carbon capture technology.
The ETI has commissioned and funded a consortium to deliver the project which will see a 5MW carbon capture demonstration plant capable of capturing up to 95% of carbon dioxide emissions designed, built and tested by 2016.
The technology will be designed to be used on new-build Combined Cycle Gas Turbine (CCGT) power stations or to retrofit Carbon Capture Storage (CCS) onto CCGT power stations.
The project launch was marked by a visit to consortium member Howden’s Global head office and UK factory in Renfrew, near Glasgow, by the Secretary of State. Howden’s currently employs 378 at its premises in Renfrew.
The technology that will be employed by the consortium is based around post combustion capture using a structured carbon adsorbent, housed within a rotating bed. An initial assessment by the ETI suggests that the technology could reduce the typical cost of electricity by 13 per cent when compared to current CCS technology*. The first phase of the project will see the ETI invest £1.6 million in a small scale demonstrator prototype, laboratory work and techno-economic assessment to confirm the projected benefits. This will then be followed by a conceptual design for the larger-scale demonstrator plant.
Once this initial stage completes, the ETI then expects to invest up to £20 million over three years in the detailed design, assembly and testing of a UK demonstrator plant. The technology is expected to be capable of large-scale deployment by 2020, at a cost and performance level which could make investment more attractive to project developers.
Ed Davey, the Secretary of State for Energy and Climate Change, said: “CCS is a key part of our aim to reduce carbon emissions from gas and coal in our future energy mix. The UK is a leading nation in developing this new technology and the project announced today is another important step to our goal of a cost competitive CCS industry.
“CCS is a prime opportunity for UK manufacturing and I am delighted to see Scottish based companies like Howden and Doosan Power Systems, as well as MAST Carbon based in Basingstoke, seizing the opportunity to create jobs for skilled workers and growth for the economy.”
Dr David Clarke, Chief Executive, ETI, added: “We expect CCS to be a key component in a future affordable, secure, low carbon UK energy system. Given the potential it offers, the technology around CCS requires investment now to build its economic viability and help extend its role in any future UK energy system design.
“With a large and relatively young CCGT fleet in operation, and the prospect of new builds continuing into the future, we are likely to enter 2020 with 30GW of CCGT capacity, much of which will require retrofit with CCS by 2030 if we are to meet UK CO2 reduction targets. Newly developed technology which reduces costs and accelerates deployment for new builds and retrofits by 2030 is critical. Major developments such as this project will support job creation and growth in the energy sector.”
Ian Brander, CEO of Howden Group, added: “The UK government’s initiative in creating the ETI to accelerate the development of low carbon technologies has in this case helped bring together an innovative gas separation technology developer with two world leading UK-based engineering companies; both of whom are well established within the global power generation industry. We have all become increasingly aware of the effects of climate change and the need to reduce CO2 emissions from energy intensive industries. As a consortium, we recognise that this need for change provides a proactive opportunity to use our knowledge and experience to develop products and systems that will help in meeting CO2reduction targets, and in the longer term help position the UK as a leading provider of next generation low carbon technologies.”
The consortium will be led by Inventys in collaboration with Howden, Doosan Power Systems and MAST. Howden will manufacture the large rotating devices in which the carbon adsorbents will be housed; Inventys will design the carbon dioxide capture process and system known as VeloxoTherm™; Doosan Power Systems will provide expertise in the area of engineering design, system integration and assessing the commercial value of developing such technology; MAST will provide the expertise in manufacturing the carbon adsorbent material; and ETI member Rolls-Royce, will provide specialist engineering support for the project.
This project adds to the ETI’s existing £33 million investment in its CCS technology programme, which aims to build CCS infrastructure capability for the UK.
To view ETI Project Manager Rebecca Sweeney explain the project click here.
Notes to Editors
For further information, please call Richard Robinson, Media Relations Manager, at the ETI on 01509 202026 or 07500 049626.
● * The 13% reduction is based on the Levelised Cost of Electricity (LCOE.)
The ETI has recently completed a major study to assess carbon dioxide storage capacity in the UK. ETI’s current activity in this field includes a CCS system modelling tool-kit to help support the future design, operation and roll-out of cost effective UK-based CCS systems and the commissioning last year of a £23.5 million CCS Next Generation Coal Capture Technology Demonstrator project.
●The Energy Technologies Institute (ETI) is a public-private partnership between global industries – BP, Caterpillar, EDF, E.ON, Rolls-Royce and Shell – and the UK Government.
● Public sector representation is through the Department for Business, Innovation and Skills, with funding channelled through the Technology Strategy Board and the Engineering and Physical Sciences Research Council. The Department of Energy and Climate Change are observers on the Board.
The ETI is focused on accelerating the deployment of affordable, secure low-carbon energy systems for 2020 to 2050 by demonstrating technologies, developing knowledge, skills and supply-chains and informing the development of regulation, standards and policy.
Howden is one of the world’s largest and longest established manufacturers of air and gas handling equipment. The company was established in Glasgow in 1854 as an engineering firm, and has grown to become a worldwide organisation with over 4,000 employees and companies in 21 countries. Howden is owned by Colfax Corporation, and designs and supplies heavy duty industrial fans, rotary heater exchangers, compressors and gas cleaning equipment to customer specifications. Howden products will typically be highly engineered to perform at the optimum level for customers in Power Generation, Oil & Gas, Petrochemical, Mining and Metal Refining plants internationally, amongst many other energy intensive, environmental and heavy industrial applications.
Inventys Thermal Technologies is the developer of advanced gas separation and purification processes and systems. Inventys proprietary carbon dioxide capture system called VeloxoThermTM is based on an intensified thermal swing adsorption process which employs structured adsorbents housed in a rotating embodiment.
Doosan Power Systems builds, maintains and extends the life of power plants across the world. From full Engineering-Procurement-Construction (EPC) contracts for major power projects we also offer a wide breadth of products and services to power and industrial customers.
MAST Carbon International carries out research, development and small scale production in the field of advanced carbon materials for a wide range of applications including water and air purification, energy storage, military and biomedical products. The Carbon Capture process offers a world scale opportunity for MAST and the UK manufacturing sector.
The CCEMC announced $46 million in funding for carbon capture and storage and cleaner energy projects July 12, 2012. The projects have a combined value of more than $327 million.
“The CCEMC is supporting industry efforts to reduce greenhouse gas emissions from fossil fuels while helping to ensure Alberta can continue to be a global energy leader, even as we transition to other sources,” said CCEMC Chair Eric Newell. “By addressing challenges facing Alberta’s large emitters we are funding projects that have tremendous potential to reduce Alberta’s greenhouse gas emissions over the long term.”
The organizations receiving funding from CCEMC are:
- Cenovus Energy Inc. – $10 million for a Chemical Looping Steam Generator – 10 MW Pilot at Christina Lake near Fort McMurray
- Husky Energy – $2.9 million for the Lashburn CO2 Capture Demonstration Project near Lloydminster
- Imperial Oil – $10 million for a Cyclic Solvent Process pilot in Cold Lake
- Inventys Thermal Technologies Inc. – $3 Million for the VeloxoTherm™ CO2 Capture Project at Joffre
- MEG Energy Corp. – $10 million for Heavy Crude Quality Improvement in the Alberta Industrial Heartland Region
- N-Solv Corporation – $10 million for the N-Solv BEST Pilot Plant at Suncor Dover in Fort McMurray
For more details, read our press release and backgrounder at ccemc.ca.
BERKELEY, Calif., (BUSINESS WIRE)—June 5, 2012—The Roda Group, the largest investor in the renewable oils company Solazyme (NASDAQ:SZYM) and a venture capital group focusing on large-scale and lucrative business opportunities that address the issues of climate change, increasing demand for low carbon energy, and stress on the Earth’s natural resources, announced that it has invested in two new companies in the cleantech space.
mOasis has created a soil amendment product that increases crop yields while simultaneously reducing the need for fertilizer, water and water-related energy use. The product is a new type of hydrogel, a polymer known for its ability to absorb massive quantities of water. The mOasis product is able to enhance the amount of moisture and nutrients available to a plant’s root zone and significantly reduce water stress between rain or irrigation cycles. The company is led by Susanna Kass, CEO and Dr. Nai Hong Li, Co-Founder and CTO. mOasis is currently conducting field trials, managed by prominent agriculture scientists, that have already produced promising results.
Inventys has developed an energy and capital-efficient technology for capturing carbon dioxide from industrial sources. The company’s proprietary process is less than one-third the cost of existing industrial CO2 capture technologies and will enable the widespread adoption of carbon capture and sequestration. The company is led by CEO Andre Boulet and fellow co-founders Brett Henkel, Soheil Khiavi and Darryl Wolanski. Inventys is building an in-house pilot unit capable of capturing multiple tons of CO2 per day from a natural gas power generator by late 2012 and will be deploying field units with major industry partners in 2013.
Roger Strauch, Chairman of The Roda Group, said, “As was the case with Solazyme, The Roda Group is enthusiastic and proud to invest in talented and passionate people who look forward to developing and selling products that address enormous market opportunities while helping the world build a more sustainable and healthy environment and food supply. We believe that mOasis and Inventys will fundamentally advance the way we grow food and produce energy, respectively.”
VANCOUVER, British Columbia (PRWEB)—November 15, 2011—Inventys Thermal Technologies Inc. (“Inventys”) announced today that it has signed a Research and Development Agreement (“Agreement”) with Suncor Energy to develop theVeloxoTherm™ CO2 Capture Technology for deployment in carbon capture and storage projects and CO₂ enhanced oil recovery projects ventures.
“This new agreement with Suncor represents a significant milestone for us, as we advance our commercialization strategy,” said Andre Boulet, President and CEO of Inventys. “Suncor has provided us with valuable support in the current commercialization work plan funded in part by the Government of Canada Industrial Research Assistance Program.”
“We look forward to working with Suncor on the development of our VeloxoTherm™ CO₂ capture technology and working towards the deployment of strategically located commercial scale facilities,” said Boulet.
CO₂ is a greenhouse gas that is produced by the combustion of fossil fuels. In recent years, climate change has been increasingly attributed to rising CO₂ concentrations in the atmosphere. CO2 capture and storage (CCS) is considered a leading mitigation strategy for the reduction of greenhouse gas emissions. Governments around the world are planning for the mandatory reduction of CO₂ emissions as part of their environmental strategies.
As part of the capture and storage process, CO₂ can also be used for Enhanced Oil Recovery (EOR). EOR is a 40-year-old commercially proven process where CO₂ is injected into mature oil fields to push the stranded oil to the surface. The United States alone has a potential of 50 billion barrels ($3.5 trillion dollars) of incremental oil production using CO₂ EOR.
Inventys is commercializing the lowest cost and most energy efficient technology for capturing post-combustion CO2 from industrial flue gas streams. The proprietary VeloxoTherm™ process is less than one-third the cost of existing capture technologies and uniquely enables CO₂ capture at a price point that unlocks an enormous and lucrative opportunity – CO₂ Enhanced Oil Recovery (EOR). Inventys’ goal is to rapidly create enterprise value by securing a significant share of the CO₂ EOR value chain and become a global technology supplier for the reduction of greenhouse gas emissions. Inventys is currently working on several pilot plant demonstration projects and partnering with some of the world’s largest energy and manufacturing companies to rapidly deploy the technology. For more information about Inventys, please visit the website at www.inventysinc.com.
Caution concerning forward-looking statements: Certain statements contained in this news release may constitute “forward-looking statements”. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “investigate”, ”looking at” and similar expressions, as they relate to Inventys or its management, are intended to identify forward-looking statements or information. Such statements or information reflect Inventys’ current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Inventys’ actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Inventys does not intend, and does not assume any obligation, to update such forward-looking statements or information.
For further information, contact:
Inventys Thermal Technologies Inc.
Andre Boulet: Chief Executive Officer
Email: [email protected]
© 2011 Inventys Thermal Technologies Inc. All Rights Reserved
Calgary, Alberta, July 7, 2010 – Eighteen clean technology projects from across Canada that will help green Canada’s economy today received $40 million in funding to help move innovative technology solutions to the market. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made today by the Honourable Jim Prentice, Minister of the Environment, and Dr. Vicky Sharpe, SDTC’s President and CEO.
“Our government continues to invest in projects that reflect our balanced approach to reducing emissions,” said the Honourable Jim Prentice, Minister of the Environment. “These projects will create high-quality jobs for Canadians now, and provide us with a healthier environment and sustainable prosperity in the future.”
“SDTC and the Government of Canada are providing industry the tools they need to become more productive, competitive and efficient,” said SDTC Chairman Juergen Puetter. “When these companies bring their technologies to businesses and consumers, they create jobs, provide Canada a technological edge and contribute to improving the quality of Canada’s air, water and soil”.
These innovative clean technologies involve many of Canada’s main economic sectors. Some highlights of this round include:
- Technologies that will help the oil and gas sector to reduce its environmental impacts by reducing its energy and clean water use as well as the risk of pipeline failures
- Technologies that could be used by the automotive, industrial freight and aviation sectors to become more environmentally friendly while remaining economically sustainable
- Technologies that will increase the efficiency and safety of wastewater treatment
These new investments bring SDTC’s total portfolio value to over $1.6B. SDTC’s SD Tech Fund™ has completed sixteen funding rounds, committing $478 million to 195 clean technology projects. These figures include adjustments made to the portfolio.
SDTC’s investments to date are creating Canadian green jobs, have attracted additional private sector investment of over $2.5 billion and are expected to deliver an overall reduction of greenhouse gas emissions of between 7 and 17 Megatonnes – the equivalent of taking up to 1.9 million homes off the grid.
“The convergence of clean technologies promises to revolutionize our existing industries, marrying environmental stewardship with economic prosperity,” said Vicky Sharpe, SDTC President and CEO. “These clean technologies allow our key industries, such as agriculture, transportation and oil and gas, to reduce waste, conserve power, minimize pollution and create new, value-added products all at once.”
The newly funded projects are representative of the investment priorities established in the SD Business Cases™, a series of six reports published by SDTC and which provide strategic insights into specific economic sectors (available in the Knowledge Centre section of the SDTC website at www.sdtc.ca). The latest report on industrial freight transportation was released on December 2, 2009. Other sectors previously studied include clean conventional fuels, renewable electricity and commercial buildings.
SDTC is an arm’s-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government’s commitment to create a healthy environment and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Detailed information on the 18 projects, including their descriptions, can be found here.
For more information, please contact:
Tel: 613-234-6313 ext 295
Office of the Minister
Natural Resources Canada
OUR GOAL: Build a CO₂ Marketplace by Matching Man-Made CO₂ Sources with CO₂-to-Value Opportunities.
Stay in Touch
- Inventys Announces US$11M Series C Fundraising Round with OGCI Climate Investments as Lead InvestorJuly 15, 2018 - 10:45 pm
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