Altona Energy inks deal for carbon5 Jun 2018 12:20
"I am delighted to announce this potential exciting development for Altona,� said Nick Lyth, Altona chief executive.
the company revealed it has signed a deal to potentially access a waste recycling technology.
It has inked a memorandum of understanding with GCAT Energy Group which has licence to use a patented pyrolysis technology used to converts carbon matter into a variety of outputs including synthetic gas (syngas).
With the signing, the companies will now discuss terms under which Altona may be able to invest in the equity of a joint venture company.
"I am delighted to announce this potential exciting development for Altona,� said Nick Lyth, Altona chief executive.
�The pyrolysis technology can process a wide spectrum of carbon matter so there are a number of potential routes to commercialisation.�
"In addition, the demonstration unit has been shown to work at high levels of efficiency and as such, the economics of the project are potentially very attractive.�
Lyth added: "Initial negotiations have already taken place with the owners of the licence and I hope to be able to update the market with a positive outcome soon."