EmberClear Signs Energy Agreement at Washington, D.C. Ceremony
Historic Signing Could Lead to More Than 1,000 U.S. Jobs
WASHINGTON, DC, Feb. 14, 2012 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear") signed a historic energy agreement with China's Huaneng Clean Energy Research Institute ("HCERI") on Monday.
The agreement, a technology license, enables EmberClear to develop a new low-emissions plant producing gasoline or diesel fuel from coal in the United States. The project could create approximately 1,000 jobs in the U.S. and obtaining a technology license achieves a required milestone for such a facility to be built.
The United States Chamber of Commerce hosted officials from the Ministry of Commerce People's Republic of China and the U.S. Department of Commerce to witness the signing in Washington D.C.
"The White House and the Chinese government both see the immense value of EmberClear's agreement with HCERI, not only in terms of the jobs it will help support, but more importantly, it is the cleaner energy we'll be able to provide to Americans in addition to the improved energy security," said Albert Lin, CEO of EmberClear.
The plant is intended to generate gasoline or diesel transportation fuel for sale in the United States. The use of this new advanced thermal-chemistry technology allows the production of such fuels with lower emissions than traditional refineries using crude oil.
"This partnership is a strong example of how American energy companies can work with Chinese partners to provide new lower emission energy solutions while simultaneously creating jobs here in America," Lin said. "The impressive track record of Chinese investment and technical achievement in this field has given rise to a surge of global demand for this type of clean energy technology from other countries, utilities, and consumers sensitive to climate change."
China and the U.S. have some of the world's largest coal reserves and both governments are seeking energy independence solutions. These countries have tremendous technologies for making coal a far better - and cleaner - energy source.
"The world is primed to take advantage of China's investments and deployments of technologies converting coal to all sorts of energy sources with far lower emissions," Lin said. "In particular, making electric power and gasoline. Both will create thousands of construction jobs and bring in billions of dollars to the region where our plant will operate for many years."
Photos of the signing are available here.
About EmberClear
EmberClear is an advanced energy development company. Based on global energy needs from a growing population, our solutions are designed to deploy commercial scale energy technologies, which enable dramatic improvements in the efficiency and cleanliness of fossil fuels and alternative energy sources. Our goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results in the utilization of coal while also deploying state of the art carbon dioxide capture solutions.
Our expertise is being utilized by a diverse group of governments, utilities and industrial companies spanning a wide range of geographies with the common interest in creating gasification, supercritical (SC), ultra-supercritical (USC), circulating fluidized bed (CFB) and post-combustion carbon dioxide capture (PCC) energy solutions producing electricity, synthetic gas, liquid fuels, fertilizers, and industrial construction products. Our solutions often include the vast thermal chemistry sciences and processes developed by Huaneng Clean Energy Research Institute (HCERI). HCERI has the most experience and resources devoted to this industry. Our partnership ensures advanced energy solutions are financially sustainable so that the benefits accrue to the global marketplace and not just a few special projects.
For more information, please visit www.emberclear.com.
About Huaneng Clean Technology Energy Research Institute
The world-renowned Huaneng Clean Energy Research Institute (HCERI) has developed patented gasification technology being used in gasification facilities in China with large projects under construction in Inner Mongolia and Tianjin, China. It is affiliated with Huaneng Power Group (NYSE: HNP), the largest power utility in China.
Forward-Looking Statement Disclaimer
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target", "seek", "budget", "predict", "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: statements about our intention and ability to construct and operate a Coal to Liquid Fuel Energy plants, petrochemical or other energy projects which would economically create fuels from coal with lower emissions than refining crude oil. With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, the following: the economic viability of a Coal to Gasoline plant or other projects, the benefits of the collaboration for petrochemical or other project, the emissions generated from a coal-to-gasoline plant, energy needs, the creation of jobs associated with this coal to liquid fuel project, and the ability to generate gasoline or diesel transportation fuel for sale in the US. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the following: the possibility that EmberClear will not have the financial or other resources to develop, construct or operate such plant or other project, the failure of the HCERI technology to function as anticipated, and the inability of the Company to obtain all necessary regulatory and other third party approvals to develop Project or any other projects. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2012 EmberClear Corp.
All rights reserved. All other trademarks are the property of their respective owners.
David G. Anderson
CFO
+1 (403) 264-8817
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