Gas Techno To Raise $20 Million To Build 10 Modular Plants
Walloon Lake-based Gas Technologies LLC late Wednesday announced plans to raise $20 million to build 10 modularGasTechno methanol plants for use by its customers and authorized representatives.
The plants will be designed as complete turn-key packages and start generating revenues shortly after installation.
Gas Technologies will build, own and operate the plants for its customers.
The plants are estimated to pay for themselves in two to three years, and are designed for a 10- to 15-year operational life with very limited
Gas Techno officials said that in states like Michigan, where waste gases are generally not allowed to be burned off at oil wells — so-called “no-flare” regulations that limit oil production — replacing a flare with GasTechno allows operators to increase oil production, and the plants pay for themselves in months, not years.
This new commercialization strategy will allow GTL’s global customers to see multiple plants operating under a variety of feed gas qualities and environmental conditions. It is a fast track approach to getting commercial plants into the field for customer evaluation.
Gas Technologies CEO Walter Breidenstein said the level of interest in his company’s technology “is growing. Our GasTechno process has exceeded all expectations in the field and has been validated by several third party references, but finding early adopters in this economy is difficult, even at smaller scales. We realize companies want to eliminate technology risk. This rapid deployment commercialization strategy demonstrates the confidence we have in the technology, and proves to potential customers these are robust, highly profitable plants.”
The future of natural gas to liquids process technologies is growing, and GasTechno intends to be the first to market with the only small scale solution in the world. Gas Technologies is taking indications of interest from prospective customers and will begin selecting key locations for these 10 new plants.
“Building 10 plants at once will guarantee our lowest manufacturing cost and ensure we are able to get plants into the field as quickly as possible,” said Josephine Race, Gas Technologies COO. “Customers are telling us to either offer a service-driven model that does not impact their capital budget, or provide the lowest cost solution. In this plan we will offer both.”
The market focus for these 10 plants will be locations with flared gas, stranded natural gas reserves or coal mine methane. Gas Technologies will consider sites outside the United States for select companies or governments where demand for methanol and chemicals would support long-term, larger scale projects.
The company is also working on new fertilizer, methanol-to-gasoline, methanol-to-diesel and methanol-to-jet fuel “add-on” process technologies that integrate with its core process technology.
Commercial GasTechno plants are economically viable from 300,000 standard cubic feet per day to 30 million scfd. Breidenstein estimates that the methanol-to-gasoline process could profitably scale as low as 10,000 to 20,000 cubic feet per day.
Gas Technologies has developed a single-step process to convert methane gas to liquid, burnable methanol. The GasTechno process converts methane into valuable commodity fuels, intermediates and specialty chemicals via the GasTechno family of technologies.
GasTechno plants are scalable, transportable and profitable at small volumes, monetizing even modest sources of CO2, methane, landfill gas, biogas and biomethane.
The company’ latest designs include a food and fuels production system that processes CO2 and methane, the greenhouse gases primarily responsible for global warming. The GasTechno platform offers unique design and engineering services for patent licensing of technologies involving natural gas processes and chemical processing plants.