Vertimass and European Energy announced today that the companies have completed a Letter of Intent (LOI) to integrate technologies for capturing carbon dioxide and converting it into hydrocarbon products around the world, a result that would reduce emissions of carbon dioxide that contribute to climate change.
This unique combination takes advantage of European Energy’s expertise in capturing carbon dioxide from waste sources (carbon dioxide produced from anaerobic digestion, power production, fermentations, and cement manufacture) to produce methanol, as well as Vertimass’ technology to convert that methanol into jet, diesel, and gasoline fuels and chemicals. The team completed an initial proof of concept laboratory research for coupling their technologies earlier this year.
“Vertimass looks forward to feeding methanol made from carbon dioxide using renewable electricity by European Energy technology to our unique single-stage reactor to make hydrocarbons,” said Vertimass CEO Charles Wyman. “Combining these technologies could not only produce Sustainable Aviation Fuels (SAFs) and other hydrocarbon fuels with net zero carbon emissions but also mitigate climate change by converting carbon dioxide into renewable plastics, thus permanently removing this greenhouse gas from the atmosphere.”
“European Energy is committed to take a central position in the green transition and use so-called Power-to-X processes to bring renewable electricity into sectors that are difficult to electrify directly. European Energy sees a great potential to expand the application of our renewable e-methanol especially as a feedstock for Sustainable Aviation Fuels through the unique single-stage process from Vertimass”, observed Søren Knudsen Kær , Head of Technology, Power-to-X of European Energy.
Vertimass’ technology sustainably produces vital fuels and chemicals from methanol, ethanol, and other renewable alcohols with high yields that can dramatically reduce greenhouse gas emissions compared to sourcing these products from petroleum. The simplicity of this single reaction stage results in low capital and operating costs. The technology originated from Oak Ridge National Laboratories operated by UT-Battelle, with Vertimass obtaining worldwide exclusive rights in 2014.
Vertimass technology for producing jet fuel and chemicals from methanol derived from carbon dioxide offers ethanol producers, electrical power generation facilities, cement producers, and other sources of carbon dioxide release the ability to reduce greenhouse gas footprints. In addition to helping lower carbon footprints, jet, diesel, and gasoline fuels and chemicals derived from renewable alcohols can improve strategic security, rural economies and international competitiveness.
Vertimass LCC is based in Irvine, Calif. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol.
This is neither an offer to sell nor a solicitation of an offer to buy any security. Such an offer may only be made by means of an offering document that must accompany or precede this information. There is no assurance that this strategy will succeed to meet its objectives. All investments have risk including loss of investment; please see the risk factors section of the offering document. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.
European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale PtX plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across its 24 countries of operation. Founded in 2004, European Energy has a development pipeline of more than 20 GW of renewable energy projects and is currently constructing more than 1.2 GW of new energy capacity. European Energy has developed a new decentralized production technology that offers green e-methanol identical to fossil methanol, from renewable energy sources and CO2 from bio-waste. E-methanol provides the transport sector and chemical industry a convenient transition to environmentally friendly fuels and chemicals. Our e-methanol has an ultra-high greenhouse gas reduction and is price competitive to similar products such as green bio-products. The process facilitates the re-cycle of CO2 emissions, and the by-products (oxygen and heat) can be used in the industrial sector and for district heating.