The company’s analysis found that it can produce natural gas with a lower carbon footprint than extracting natural gas from the ground, assuming a carbon storage site can be found. Its financial target is making gas at between $4 and $5 per million British thermal units (MMBtu), which is in the range of today’s prices but lower than natural gas prices before the global recession hit.
Massachusetts Governor Deval Patrick played a key role in getting its demonstration facility sited and quickly approved. It took just 18 months to build and get its plant online.
Its next project is to open a larger pilot facility in China at a coal-fired power plant with Datang Huanyin Electric Power, one of the biggest polluters on the planet. “If we can show (Datang) that they can make more money being clean rather than dirty, then we can make a real impact,” says GreatPoint Energy CEO Andrew Perlman.
These facilities aren’t cheap: the pilot plant in China will cost between $100 million and $200 million, financed primarily by Datang. A full-scale operation would cost $1 billion to build
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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