Valverde Power Solutions Positions to be a Carbon Capture Leader Using Clean Energy Systems Innovative Technology
- Oct 6, 2021 2:06 pm GMT
- Valverde Power Solutions and Clean Energy Systems Announce Definitive Master License Agreement
- 15 Already Identified CCUS and Clean Power Projects to be Advanced
Through the Master License Agreement and CES' minority ownership position in VPS, our innovative companies are now entering into a collaborative partnership to advance the Oxy-Fuel Combustion technology in oil and gas fields and in other industrial applications, where natural gas can be converted into carbon-neutral electricity and the carbon dioxide (CO2) sequestered or provided to enhanced oil recovery (EOR) operators.
Importantly, oilfield operations can now easily be powered by clean energy reducing their carbon footprint at the field level. CO2 and electricity comprise two of the largest operating expense components of EOR operations and significant OPEX efficiencies can be achieved through the VPS plant design and the Oxy-Fuel Combustion technology. The Agreement will also enable VPS to produce a reliable and stable supply of clean electricity, complementing other clean sources of electricity from renewables and thereby contributing to an integrated, robust and environmentally friendly power grid for our economies.
As part of the consideration for granting VPS the Master License Agreement, CES will receive VPS common stock and CES CEO
Commenting on the License Agreement,
About Valverde Power Solutions
Through the CES partnership, our initial projects use natural gas combusted in pure oxygen to produce power and pure carbon dioxide which can be captured and safely stored underground or supplied to oilfields suitable for tertiary recovery. The electricity produced will be a dependable and a constant supply, thereby providing an important supplement to intermittent renewable electricity supplies and to oil and gas operators for a clean oilfield power alternative.
VPS was founded by
Please visit www.valverdepowersolutions.com for more information.
For Valverde Power Solutions
SOURCE Valverde Power Solutions;
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