Verde Participation in Consortium Awarded US DOE Funding

Source: www.gulfoilandgas.com 4/22/2024, Location: North America

Verde Clean Fuels, Inc. (“Verde” or the “Company”), a renewable energy company focused on the development of commercial production facilities to convert syngas derived from diverse feedstocks into gasoline, announced that a consortium led by TDA Research, Inc. (“TDA”), and including Verde, has been awarded funding from the US Department of Energy (DOE) to complete a conceptual design study for a system having the potential of capturing and utilizing ambient CO2 to produce “green” methanol.

Under the award, TDA will design a direct air capture (DAC) process for sourcing of CO2 from the atmosphere and lead the integration of the DAC with the methanol plant. Verde plans to design and model the methanol production unit using its proprietary STG+ technology, with the goal to utilize CO2 from the DAC, and hydrogen from a carbon-free source, to produce green methanol. Several other consortium partners will also contribute. The University of Colorado – Denver will carry out a lifecycle analysis using process input from TDA. As reflected in the overall project plan, TDA and Verde Clean Fuels plan to complete conceptual design and review the technoeconomic and technology gap analyses and develop the technology maturation plan.

The award and project period will last to the end of calendar year 2024. Total funding under the award to the consortium is $400,000. An additional $100,000 is expected to come from non-DOE sources, for aggregate funding of up to $500,000 for the project. Based on the results of the study, other project phases may follow.

The project provides another demonstration opportunity for the versatility and application of Verde’s STG+ technology.

“We are thrilled for the opportunity to showcase our STG+ technology in a system we believe could include direct air carbon capture and green hydrogen to make a liquid fuel. This opportunity allows us to participate in an exciting, leading edge project of e-fuel technology development, and we look forward to working together with all of our consortium partners,” said Ernest Miller, CEO of Verde. “Energy transition requires not only new technologies, but new ways of thinking. This funding award from the DOE supports both – combining new technologies in novel ways to investigate decarbonization of methanol production. This is an exciting opportunity, and one we are proud to be a part of.”

As methanol is a broadly used chemical feedstock, the Company expects that green methanol will play a vital role in decarbonizing the chemical industry. Also, when used as a liquid fuel, green methanol may be one of the most viable renewable fuel options for the maritime industry.


Canada >>  12/27/2024 - NINE MILE METALS LTD. (the "Company" or "Nine Mile") is pleased to announce that it completed a non-brokered private placement (the "FT Private Placem...
Canada >>  12/27/2024 - Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company focused on the offshore Atlantic Margins, announces that all resolutions were duly ...

Canada >>  12/27/2024 - Graphite One Inc. ("Graphite One" or the "Company") is pleased to announce that further to its press release dated December 16, 2024, the Company has ...
Canada >>  12/27/2024 - Greenfire Resources Ltd. announced that it has commenced a change of control offer (the "Change of Control Offer") relating to its outstanding 12.000%...

Canada >>  12/27/2024 - Mustang Energy Corp. (“Mustang” or the “Company”) is pleased to announce that, further to its news releases of November 25, 2024 and December 16, 2024...
Canada >>  12/27/2024 - Abaxx Technologies Inc., (“Abaxx” or the “Company”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Si...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.