GasTechno® in the Press
PETOSKEY, MI - (April 13, 2011). Gas Technologies LLC (GTL), developer of the GasTechno® methane to methanol conversion process, today announced its plans raise $20 million dollars to build ten modular GasTechno 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 2-3 years, and are designed for 10-15 year operational life with very limited maintenance. In "no-flare" states like Michigan where exemptions to flaring limits oil production, replacing the 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.
Walter Breidenstein, the company's CEO stated, "The level of interest in GTL 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 ten new plants.
"Building ten plants at once will guarantee our lowest manufacturing cost and ensure we are able to get plants into the field as quickly as possible. 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." said Josephine Race, the COO of the company.
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 USA 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 their core process technology.
Commercial GasTechno plants are economically viable from 300,000 standard cubic feet per day (scfd) to 30 million scfd. Breidenstein estimates that the methanol-to-gasoline process could profitably scale as low as 10-20 thousand cubic feet per day.
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