EMEX Corp. Plans to Build Natural Gas Synthesis Plan
(NASDAQ:EMEX) is announcing its intent to build the first of a series
of commercial plants utilizing the firm’s proprietary gas technologies
to produce clean-burning diesel fuel, high-quality waxes, electricity,
thermal energy, specialty chemicals and water.
The first 2,500-barrel-a-day plant will be built at EMEX’s Blue Star Technologies site in Arvada, Colorado, and will include five, 500-barrel-a-day modular units. The company is currently in negotiations to secure $100 million in project financing to fund plant construction.
EMEX plans to sell the products to the transportation, food, pharmaceutical, cosmetics and packaging industries.
"Our technology’s greatest strength is its versatility. We have developed the means to take natural gas and produce several revenue streams, which will put EMEX on the map in a diverse array of markets," said Nick Vanderborgh, director of EMEX’s Blue Star efforts. "The efficiency of the plants ensures that everything produced in the synthesis process can be either sold or used by plant operators."
With only one-third of the electricity generated by the synthesis process needed to power the production units, the company plans to market its excess power to the local grid. The heat to be produced may play a role in cogeneration, while each 500-barrel-a-day module will produce 20,000 gallons of potable water daily. EMEX expects the water and heat output may open the door for licensing the plant technology to arid, remote industries, such as mining operations.
The production units can be modified to yield varying amounts of wax, fuel and the other products, depending on conditions in the respective markets. "The plant’s flexibility will allow us at any given time to produce the maximum amount of the most valuable product," said Walter W. Tyler, CEO of EMEX.
Though its Blue Star technologies and product lines, EMEX Corp. focuses on Gas-To-Electricity, Gas-To-Liquid and Gas-To-Solid processes that utilize natural gas. The company is also working to provide fuels to be used in fuel cells. EMEX’s Resources Division is developing significant precious metal projects and natural gas holdings. The combination of developing both technologies and a resource base is referred to by EMEX as an asset-backed technology strategy, and is key to the company’s surmounting economic challenges faced by emerging technologies.
For more information contact: Matt Gallagher at Weber Shandwick
Worldwide, 646 658 8155.
Statements about future expectations in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, and, as that item is defined in the Public Securities Litigation Act of 1955. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. Actual results could differ materially from expected results.
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