Valverde Power Solutions (VPS) has entered into a definitive Master License Agreement with Clean Energy Systems (CES) granting VPS the right to utilize the CES Oxy-Fuel Combustion technology for an initial 15 already-identified clean power and carbon capture and sequestration projects in the United States, Mexico, and Canada. The CES Oxy-Fuel Burner allows the generation of electricity with 100% carbon capture creating clean power while efficiently utilizing domestically produced natural gas.
Through the Master License Agreement and CES’ minority ownership position in VPS, the 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 Keith Pronske will join the VPS Board of Directors.
Commenting on the License Agreement, Gareth Roberts, VPS CEO said: “At Valverde, we have expertise in the transport and sequestration of CO2. We now combine that expertise with the CES technology to provide, by far, the cheapest and most efficient method of producing dependable electric power with zero emissions. Our priority will be to develop decarbonized electricity in existing North American hydrocarbon oilfields, but quickly we intend to expand the technology to create commercial clean electricity at scale.”
“We’re excited about our partnership with the VPS team and look forward to rapidly developing several carbon-neutral projects in North America. Having worked on our CCS technology for the past 25 years and tested at scale all required systems, we see a very bright future for zero emissions power plants with full carbon capture,” Keith Pronske, CES President & CEO, added.
Rocket Technology: Producing Clean Electrical Power from Natural Gas
The Master License Agreement with Clean Energy Systems gives Valverde Power Solutions exclusive rights and access to the ‘Rocket Technology’ for use in developing selected clean energy projects. VPS is working to be part of the diversity of solutions to eliminate carbon pollution while delivering an efficient source of energy for a more productive and sustainable world.
Integrated Power Network: The Rocket Enables Other Clean Technologies
Integrating several energy solutions is the most efficient way to deliver clean energy. The Oxy Fuel Process can be at the center of bringing different energy ‘silos’ together.
- Clean Hydrogen can be produced from the water and power delivered by the Oxy Fuel Power Plant
- Oxygen can be used from the hydrogen electrolysis process for the oxygen plant
- The intermittent power problem from renewables can be solved with clean energy produced for the grid by the Oxy Fuel process
- Excess power from renewables can also be used to support the Oxy Fuel process