REGINA, Sept. 17 /CNW/ - HTC Purenergy Inc. (the "Corporation" or "HTC")
is pleased to announce it has signed a Global Licensing Agreement for carbon
capture and storage technology with world leading power plant equipment
supplier and power plant E.P.C. constructors - Doosan Babcock Energy (Doosan
Babcock) of the UK, and with Doosan Heavy Industries and Construction (Doosan
Heavy) of South Korea.
The Doosan Babcock and Doosan Heavy's Licensing Agreement with HTC
includes the right to utilize carbon capture and storage (CCS), products and
technologies developed by HTC in collaboration with University of Regina's, -
International Test Centre for Carbon Dioxide Capture (ITC) located in Regina,
Saskatchewan, Canada. The University of Regina is a global leading institution
in CCS technologies with many of the world's most recognized scientists and
CO(2) Capture technology developers.
In conjunction with the Licensing Agreement, Doosan Babcock and Doosan
Heavy will subscribe to a CDN $10 million Private Placement for a 15% equity
share ownership in HTC and a seat on HTC's Board of Directors. The
CDN $10 million investment will be primarily utilized by HTC at the ITC to
integrate leading edge CO(2) capture technology and further next generation
technology development at the University of Regina.
HTC and the University of Regina are leaders in Post-Combustion Capture
(PCC) technology development and commercialization, so this investment will
provide Doosan Babcock and Doosan Heavy with an advanced technology platform,
which will ensure they are influential and leading players in the world's
power generation CCS market. It is expected that during the post-Kyoto
Protocol period (2013-2017) roughly half of the global new build coal and gas
fired power projects in the world (80-100GW annually) will use CCS technology.
HTC's leadership in carbon abatement technology delivers 30% greater
efficiency than existing CCS technologies. Access to this world leading HTC
CCS technology will enable Doosan Babcock and Doosan Heavy to participate in
large-scale CO(2) capture projects from new and existing coal plants
Lionel Kambeitz, Chairman and CEO of HTC Purenergy Inc. welcomed the
"This Global Technology Licensing Agreement and its related investment
will accelerate the product development and commercial deployment of the
University of Regina's and HTC's carbon capture storage "CCS" technologies."
Kambeitz said. "HTC and the University of Regina are recognized as world
leaders in CO(2) capture and CO(2) storage 'climate change solutions'. For its
part, Doosan is one of the world's largest power plant boiler manufacturers
and power plant constructors. "Through this Agreement, Saskatchewan developed
technology will now be offered and presented to customers through 20 Doosan
commercial offices world wide with significant emphasis on the opportunities
within the People's Republic of China. In addition to furthering next
generation technology development at the University of Regina, the Doosan
investment and ongoing technology licensing royalty revenue will also
facilitate the additional hiring of newly minted Graduate Degree and Doctorate
Degree students from the University of Regina's Faculty of Engineering."
Iain Miller, CEO of Doosan Babcock commented;
"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 UK's development of a full-scale demonstration of carbon capture
About Doosan Babcock Energy & Doosan Heavy Industries and Construction
Doosan Babcock designs, supplies and constructs advanced steam generation
technology for the power industry, developing some of the cleanest, most
efficient coal-powered plants in the world. Doosan Babcock is also a leading
energy services company operating in the thermal power, nuclear, oil & gas and
petrochemical industries. Through their innovation they 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; employing approx. 10,000 personnel with a track record of
successfully completed power projects with more than 150,000 MWE installed
capacity world wide. Doosan Heavy is a part of the Korean based conglomerate,
HTC is a publically traded (HTC:TSX-V) energy technology company, that is
commercializing CO(2) Capture and CO(2) Management Technology for power
generation and other industrial CO(2) emitter facilities.
The TSX Venture Exchange Inc. does not take any responsibility for the
adequacy or accuracy of the information contained in this news release.
For further information:
For further information: Jeff Allison, HTC Purenergy, Telephone: (306)