Market Opportunity
The Global markets for climate change technologies are now undertaking enormous change in terms of broader Government initiated trading schemes, regulatory models for storage of CO2 and Corporate financial commitments into new large scale demonstration programs. Both Corporate and Government are also committing to new technologies like Carbon Capture and Storage (CCS) in terms of large scale reduction of CO2 from large scale industrial emmiters.
EESTech`s products and services reflect these new and emerging markets and are positioned to delivery commercial ready programs capable of reducing the emissions footprint of large scale plants along with providing renewable energy products and services within an innovative and economically viable program.
EESTech Inc. brings four “benchmark” and “commercial ready” technologies to the Climate Change Market;
The Jet Water System (JWS) which is a mechanical vapour compression system that purifies water.
The Hybrid Coal & Gas Turbine (HCGT) which uses biomass or a combination of methane and other waste combustibles to generate “clean” electric power.
The Purenergy Carbon Capture System (CCS) which captures CO2 from power stations and other industrial flue gases and is a stand alone, pre engineering, modular built plant capable of delivering a commercial ready, cost effective solution for the capture of CO2 for enhanced oil recovery or geological sequestration.
When we combine two of our technologies; the HCGT and Purenergy CCS units, they become the world's first stand-alone Hybrid CCS System. The combined efficiencies of the HCGT and CCS Systems will set a new industry benchmark by reducing the cost of carbon capture and sequestration by up to 40%.
EESTech is backed by two world class research and demonstration facilities; one in the Northern Hemisphere called the “International Test Centre for CO2 Capture” based at the University of Regina, Canada and the other in the Southern Hemisphere city of Brisbane, Australia called the Economic Environmental Technology Centre. Through these two facilities and years of research and development EESTech is now in a position to commercialise it`s innovative technologies.
EESTech in tackling the Climate Change issue is to mandate Economically, Environmentally, Sustainable, Technologies and deliver them commercially either into developing countries utilising the “Clean Device Mechanism” (CDM) or “Joint Initiative” (JI) or into developed countries where governments and corporates have combined to make climate change abatement schemes a reality.
To take advantage of these market change conditions EESTech has now established itself with offices in Brisbane, Australia and Beijing.
Within the Australia marketplace the Federal Governments has now set new target dates for bringing in a federal carbon trading scheme. It was originally proposed to be 2011 and has now been brought forward one year to 2010. This has now moved the corporate agenda forward to make sure it is line with this new initiative within Australia.
Within China there is now much larger scale awareness to the effects of climate change and pollution within the Government and Corporates ranks and we are starting to see the emergence of programs designed to tackle climate change in more rigorous fashion. EESTech believes that China will be one of the first markets in the world to emerge utilising EESTech`s products and services.
Within the markets of both developed or developing countries that have oil and gas as a resource, one of the very first uses for carbon has been for Enhanced Oil Recovery (EOR).
This is a process whereby CO2 has been injected into a depleted oil field and once injected the carbon bonds with the oil creating a swelling effect and pressuring the new enhanced oil to the surface. The CO2 is then stripped of the oil at the surface and reinjected back down into the field until ultimately you wind up with a field where the oil has been extracted and the CO2 remains stored deep underground. This process has had great success in places like Weyburn Saskatchewan in the Pemina Basin oil fields in Canada. They have placed over 15 million tones into the Weyburn field and are now extracting over 7 new barrels of oil for every ton of CO2 injected. The success of this program allows for large scale emitters globally to consider Carbon Capture off their large scale coal or gas fired assets and sequestering that CO2 in the depleted oil field for the benefits of new oil and creation of a carbon sink. This is a win win scenario.
EOR commercial models create the necessary benefits for the first mover status in emissions reduction programs. EOR programs have also been established in the United States and Europe.
Within the European Markets they are committing to the CCS initiative and below is a statement from the European Energy Industry to the European Commission about it’s commitment to the costs and risks associated to CCS
The European energy industry commits to the costs and
risks of an EU Industrial Initiative on CCS
We are already contributing substantial resources to the development of CCS technologies and to adapted CCS project design and pre-engineering – and expect to continue with these activities. We estimate that our corporate commitments to the early development of CCS, as well as the achievement of CCS-related efficiency-increase, already amount to a total of more than € 635 million over the past five years in aggregate.
We would like to advise the Commission that we are ready to increase our investment in CCS and take appropriate business risks as part of an EU Industrial Initiative on CCS. This increased investment and risk taking is largely dependent upon the development of the appropriate legal and financial framework to stimulate deployment of these early projects. Subject to the precise conditions of investment proposed for the Programme, we expect that our companies in the aggregate will commit upwards of 11,159 billion Euros over the next 7 years.
Nevertheless, the initial level of support required will be substantial. We are therefore of the view that the Commission and Member States need to proceed urgently to establish an appropriate financial framework for CCS demonstration at commercial scale.
Under these circumstances, we are confident that our companies will then be able to move quickly to realise the goal of the EU Industrial Initiative to have 10 to 12 large-scale CCS demonstration projects operational by 2015.
EESTech products and services are positioned well to take advantage of these emerging markets and it will be a long term player in provision of economically sustaibale technological solutions.
