Partner EmberClear Applauds Move
CALGARY, Dec. 14 /CNW/ - EmberClear (TSXV: EMB) applauds Huaneng Power Group (NYSE: HNP) for the formation of their new corporation called the Clean Energy Research Institute (CERI). Dr. Shisen Xu, CTO of Huaneng Power will be the CEO of CERI.
CERI will consolidate and control the development and direction of all clean energy initiatives for the Huaneng Power Group, China's largest electricity producer. Prior to Huaneng's centralization effort, support and development of clean technology projects have been spread across multiple entities within Huaneng. The new entity will ensure global leadership for the highest conversion efficiencies at competitive prices will be maintained and optimized for future customers.
"The impressive record of creating and commercializing the technology in China creates new global demand from countries, utilities, and consumers sensitive to climate change," stated Albert Lin, CEO of EmberClear. "We congratulate Huaneng Power for taking such an important step to ensure the global market for the CERI technology will be more easily developed and supported."
The new structure will provide improved levels of response and accountability for clients and future customers: those looking to utilize the myriad technologies available for converting coal - and other fossil fuels - into better forms of energy or chemical compounds. Specifically, CERI will consolidate all thermal chemistry technologies developed over the last several decades by various Huaneng divisions.
The formation of CERI reflects the increasing dedication and focus on clean energy technologies such as gasification, ultra supercritical (USC) combustion, supercritical (SC) combustion, circulating fluidized bed (CFB), post combustion carbon dioxide handling, and other related processes.
Most recently, these technologies have been implemented in highly visible projects like the near-zero emissions coal-based power plant in Tianjin, China called GreenGen. Additionally, EmberClear's Good Spring IGCC plant in Pennsylvania is designed to use gasification technology from CERI.
EmberClear develops energy projects around the world and intends to acquire Future Ventures of Houston, Texas USA. Future Ventures' wholly owned subsidiary, Future Fuels LLC, is the joint venture partner with EmberClear in Future Power PA Inc. (FPPI). The combined entities will develop advanced carbon based gasification projects using various technologies in thermal chemistry acquired by exclusive and non-exclusive licenses. The combined entities will hold options to lease land, options to access coal reserves, technology licenses and other project related assets. An information circular has been mailed for a special shareholder meeting on December 17, 2010. For more information please visit www.emberclear.com.
About Huaneng Power Group
Huaneng Power Group is the largest power utility in China and formed after China Power was changed from a single state run organization into five power generation companies. With over 120 GW of generation assets, Huaneng Power Group aims to be a leader in the development and deployment of economically and ecologically sound energy solutions.
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David G. Anderson