Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Are you sure I make it -16%
https://www.boerse-frankfurt.de/equity/petroteq-energy-inc
The end product produced at the POSP will still be a thick bitumen, even if it is low sulphur. From Petroteq news releases: 'The process is environmentally benign, uses no water in the extraction process, and produces bitumen and a clean sand that meets EPA Tier 1 standards as the only byproduct'
The latest version of the Petroteq technology is all about removing the solvents used in the process so they can be re-used again, but that results in viscosity issues which make it difficult to transport, and it would still then need to be shipped to a refiner to refine it to IMO2020 compliant fuel oil.
DoN wrote an excellent summary on the economics some time ago.
https://quorumzine.gitlab.io/quorum/content/2020/07/20/quadrise-msar-asphalt-ridge-analysis.html
'However, as detailed in the public SEC filings , what is produced is a very heavy crude, probably in the API 8-14 range (super-heavy crude/bitumen); in order to control the viscosity of the product, Petroteq selectively leave certain of these solvents in the finished/upgraded crude product.
This probably sounds awfully familiar to the regular reader; it’s essentially using a diluent or 'cutting', but via a slightly atypical route. As a reminder, cutting is a process by which high-value, low-viscosity distillates are added to low-value, high-viscosity residues in order to reduce viscosity enough to produce a salable product.'
Part of the Valkor/ Greenfield strategy is to use the MSAR process to create the fuel to power the CORT process on their site in lieu of trucking/ piping in gas/ diesel, which is key to reducing the production costs. The MSAR product also allows them to bypass the shipping of a bitumen product to a refiner and instead they can sell and ship low suphur MSAR direct to end users. This adds to the value chain.
All looking good
https://ir.petroteq.com/news-presentations/press-releases/detail/376/petroteq-energy-announces-that-production-of-oil-from-the
Licence temporarily suspended
https://www.lse.co.uk/rns/TOM/greenfield-update-bl90y6oadtms0r1.html
The only thing that would hold it back are memories of what happened last time.
The video shows they are loading the 2nd AFC generator onto the ship.
Is this a backup? It shows that AFC at the very least have made more than 1 system.
https://twitter.com/i/status/1389559682466029568
Promising but due to the seasonal nature of the business I would prefer comparisons with Q!/20 rather than Q4/20
23p
Joking aside, do we know how big the samples will be?