London (ots/PRNewswire) - Doosan Babcock jointly with
Doosan Heavy Industries of Korea have announced a Global Technology
Licensing Agreement with a leading Canadian CO2 management technology
company, HTC Purenergy Inc. ("HTC"). In conjunction with the
Licensing Agreement, Doosan Babcock and Doosan Heavy Industries will
subscribe to a Private Placement for an approximate 15% equity share
ownership in HTC and seat on HTC's Board of Directors with the
investment of CDN$10 million.
The Global Technology Licensing Agreement for HTC's carbon
capture technology now means Doosan Babcock has both pre and post
combustion technology capabilities within their portfolio to reduce
CO2 emissions from power stations. The agreement will put Doosan
Babcock, whose headquarters are in Crawley, UK, at the forefront of
carbon capture technology.
The agreement includes the right to utilise products and
technologies developed by HTC and the University of Regina Green
House Gas Technology Centre located in Saskatchewan, Canada. The
University of Regina is a leading institution in Carbon Capture and
Storage (CCS) technologies with many of the world's most recognised
scientists and developers of CO2 Capture. The CDN$10 million
investment will be utilised by HTC to deliver leading edge CO2
capture technology and further the development of the next generation
technologies at the University of Regina.
This investment will provide Doosan Babcock and Doosan Heavy with
a leading technology platform, further strengthening their position
in the world's power generation CCS market. It is expected that in
future, from around 2015, roughly half of the global new build coal
and gas fired power projects in the world (80-100GW annually) will
use CCS technology to reduce carbon emissions. Access to the world
leading HTC CCS technology, which delivers 30% greater efficiency
than existing CCS technologies, will enable Doosan Babcock to
participate in large-scale CO2 capture projects in Europe and the USA
that will demonstrate how CO2 emissions from existing and new build
coal plants can be significantly reduced.
Iain Miller, CEO, Doosan Babcock said, "We are delighted to
announce the agreement with HTC. Doosan Babcock is committed to
developing and providing technology and service solutions to the
challenges facing the energy industry. This agreement is an important
step towards the full-scale demonstration of carbon capture and
Lionel Kambeitz, CEO of HTC Purenergy Inc. welcomed the
announcement and commented, "HTC is pleased to have the opportunity
to partner with Doosan, an internationally renowned Engineering
Procurement Constructor (EPC) and OEM of clean coal power plants and
emission control technologies. The partnership with Doosan will
immediately provide engineering, construction and execution
capability to facilitate deployment of the HTC/University of Regina,
CO2 Capture Technology."
Notes to Editors
About Doosan Babcock
Doosan Babcock designs, supplies and constructs advanced steam
generation technology for the power industry. We develop some of the
cleanest, most efficient coal-powered plant in the world. Doosan
Babcock is also a leading energy services company operating in the
thermal power, nuclear, oil & gas and petrochemical industries.
Through our innovation we support and enhance the service life of
energy assets across the world. With global headquarters in the UK,
Doosan Babcock employs around 5,000 personnel.
Doosan Babcock is a wholly owned subsidiary of Doosan Heavy
Industries and Construction, which is a part of the Korean based
conglomerate Doosan Group.
HTC is a publicly traded (HTC:TSX-V) energy technology product
development company, that collaborates with the University of Regina,
Saskatchewan, Canada. It is one of the world's leading companies that
is commercialising CO2 Capture Technology for power generation
ots Originaltext: Doosan Babcock
Im Internet recherchierbar: http://www.presseportal.ch
For further information, please contact: Matt Tapsell, Doosan
Babcock, Tel: +44-1293-584-887, E-mail: MTapsell@doosanbabcock.com.
Katharina Lindemann, Hill & Knowlton, Tel: +44-207-413-3092, E-mail: