(MENAFN- ABN Newswire) Entech company Arq transforms the hydrocarbons from coal into oil products whilst cleaning up environmental liabilitiesLondon, Nov 29, 2017 AEST (ABN Newswire) - Entech company Arq has patented a new process for transforming coal waste into high-value, low cost fuels ready for today's market. The company's product, (Arq Fuels(TM)) contains micro-fine hydrocarbons, predominantly less than 5 microns in size, an industry-first, presenting a unique method for converting coal into oil products.
- Existing technologies for converting coal into liquid fuels have proven economically unviable and environmentally damaging.
- The coal industry has materially underperformed the petroleum industry largely due to cost and pollution, creating over 1 billion tonnes of damaging waste annually.
- Arq Technology(TM) cleans up coal waste by extracting micro-fine hydrocarbons for blending directly with liquid oil products.
- The company has already raised over $175 million.
- Arq is building its first commercial facility in advance of a rapid plan for global expansion.
- Arq partners with the world's largest coal companies to share in the value created from the new technology.
Previous methods for upgrading coal which relied on changing the chemical structure of coal hydrocarbons have proven to be economically unviable and environmentally damaging. The Arq Technology(TM) centres on mechanical processes that turn coal into micro particles and remove over 99% of the impurities.
Arq Fuels(TM) are so pure and small that they can be blended directly into oil products, without the need for expensive liquefaction. As a result, the process is ultra-low cost and able to 'stretch-the-barrel' whilst simultaneously reducing prices for customers.
Arq has been granted its first patent (9777235) for fuel oil compositions and processes. The company has several other patents pending.
Arq Technology(TM) helps the environment. Arq Fuel(TM) can be produced from waste discarded during the coal mining and preparation processes. Arq estimates that over one billion tonnes of coal waste are created each year, equivalent to throwing away over five million barrels of oil per day. Arq is partnering with the world's largest coal companies to clean up these environmental liabilities and capture the lost energy.
Julian McIntyre, Founder and CEO of Arq, said:
"Coal is the world's most abundant, and lowest cost fuel, with more than 10 billion tonnes of waste lying discarded in the US alone. We estimate that the energy trapped in global slurry lakes is equivalent to 70% of Saudi Arabia's oil reserves. That gives our cutting-edge technology an extensive, environmentally-beneficial and low-cost feedstock from which we are making these valuable fuels. With technology, we can open up a bright and alternative future for the coal mining industry".
Arq has already raised over $175 million from industry investors and blue-chip funds. It was founded by entrepreneur and investor Julian McIntyre who created telecoms innovator Gateway Communications, later sold to Vodafone.
Arq's core team is built from industry leaders in technology, science, energy and finance. It includes Chairman, Richard Campbell-Breeden, formerly of Goldman Sachs, Dr Paul Snaith, who was Global Head of R&D Downstream at Shell, Michael Treanor who was CEO of Shell Coal, industry experts RW West and CK Lane who both have over 30 year's experience in mining and heavy construction, and Dr Paul Groves who was a Managing Director of Petrofac.
About Arq
At , we're making better use of the world's resources.
Arq is neither a mining nor an oil company; we take nothing out of the earth. We are an entech company, applying innovative thinking to unlock micro-fine, purified hydrocarbon from coal discard.
We're transforming a huge environmental liability into a low-cost and abundant asset. Arq purified hydrocarbon products are a revolutionary source of energy for industry, power generation and transportation.
Arq. Energy unbound.
Arq is a private technology-led energy firm, based in London.
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