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Sydney, Jan 28, 2011 (ABN Newswire) - Clean Global Energy (
ASX:CGV) (CGE) is aware of today's decision by the QLD Government to disallow Cougar Energy's (ASX:CXY) UCG trial pilot plant to reopen.
CGE Chair and CEO, Mr John Harkins, said CGE's Linear CRIP UCG technology was vastly different, and greatly advanced over the technology adopted by Cougar Energy at its Kingaroy plant.
"Our Technical Director, Dr. Michael Green, led the successful European Union trials in Spain on which our technology is based. Most importantly, those trials fully met stringent European environmental laws," Mr Harkins said.
"We are currently focussed on overseas projects in India, China and the United States where the underground coal gasification process and UCG Syngas product is more clearly understood by both government and major corporations, who are encouraging CGE to bring our technology and expertise to those markets."
"As we announced only last month, CGE has expanded into the US market in a substantial way, with the early stages of project development now underway to build and operate a commercial UCG Syngas plant in Oklahoma, in partnership with US energy multinational, the AES Corporation (NYSE:AES)."
"This is a clear signal to the global market that major corporations such as AES believe that CGE demonstrates a significant technical capability, and that we are leaders in global commercial developments in underground coal gasification."
"CGE is of the view that this decision by the QLD Government on Cougar's plant, does not in any way impact CGE's plans to progress the development of our QLDbased coal tenements into income-producing assets in the medium to longer term."
"Our shareholders know and appreciate we are in the UCG Syngas business for the long haul, both in Australia and overseas, which will result in significant revenue to CGE and shareholder value to its investors", Mr Harkins said.
ASX:CGV) (CGE) is aware of today's decision by the QLD Government to disallow Cougar Energy's (ASX:CXY) UCG trial pilot plant to reopen.CGE Chair and CEO, Mr John Harkins, said CGE's Linear CRIP UCG technology was vastly different, and greatly advanced over the technology adopted by Cougar Energy at its Kingaroy plant.
"Our Technical Director, Dr. Michael Green, led the successful European Union trials in Spain on which our technology is based. Most importantly, those trials fully met stringent European environmental laws," Mr Harkins said.
"We are currently focussed on overseas projects in India, China and the United States where the underground coal gasification process and UCG Syngas product is more clearly understood by both government and major corporations, who are encouraging CGE to bring our technology and expertise to those markets."
"As we announced only last month, CGE has expanded into the US market in a substantial way, with the early stages of project development now underway to build and operate a commercial UCG Syngas plant in Oklahoma, in partnership with US energy multinational, the AES Corporation (
NYSE:AES).""This is a clear signal to the global market that major corporations such as AES believe that CGE demonstrates a significant technical capability, and that we are leaders in global commercial developments in underground coal gasification."
"CGE is of the view that this decision by the QLD Government on Cougar's plant, does not in any way impact CGE's plans to progress the development of our QLDbased coal tenements into income-producing assets in the medium to longer term."
"Our shareholders know and appreciate we are in the UCG Syngas business for the long haul, both in Australia and overseas, which will result in significant revenue to CGE and shareholder value to its investors", Mr Harkins said.
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About Clean Global Energy Limited
Clean Global Energy (ASX:CGV) is a global energy company that can produce Syngas for use in heating, power generation and the production of chemicals, fertiliser, ultra clean diesel and aviation fuels.
Clean Global Energy uses a process called Linear CRIP Underground Coal Gasification (UCG) to produce Syngas.
Clean Global Energy's advanced Linear CRIP (Controlled Retractable Injection Point) UCG process provides greater efficiencies and control with less overall operating and capital costs.
Once the raw UCG Syngas is produced at the Production Well the Syngas is passed through a number of processes to produce Regular, Premuim or Ultra Syngas depending on the requirements of our clients.
Clean Global Energy's primary business focus is on providing a range of Syngas products to meet our clients needs and demands. Typical users of our Syngas are power generators, chemical, fertiliser and petroleum producers.
Clean Global Energy partners with other companies in the development of solution packages to produce cleaner power from coal, synthetic natural gas and ultra clean fuels.Clean Global Energy also licences its technology globally.
Clean Global Energy currently has projects in the US, India, Australia and China. Australian projects are focused on development of Clean Global Energy’s own extensive coal tenement portfolio into commercial income-producing assets.
Clean Global Energy is a dynamic company that is quickly growing into a major international alternate energy company. You’ll find more information at www.cleanglobalenergy.com.au, including opt-in alerts to receive updated information, as it happens.
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Related Companies |
>>>       Clean Global Energy Limited>>> Cougar Energy Limited>>> The AES Corporation |
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Related Industry Topics: |
Gas & Oil | Energy General | Financial General | Mining | Coal | Underground Coal Gasification | |
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