Image via WikipediaThe company has already demonstrated it's technology works, and expects to have a working reactor by the end of Q3 2010. The sector is now referred to as Gas to Liquids or "GTL" and it is growing. The company's president, Byron Elton, was recently interviewed by Ally Velchie on CNN Business and that interview can be found at: http://www.carbonsciences.com/01/youtubeplayer.html
NEWS RELEASE
GTL Technology is Best Candidate to End USA’s Addiction to Petroleum and Provide 100% of Needed Transportation Fuel
Santa Barbara, CA - June 22, 2010 - Carbon Sciences, Inc. (CABN), the developer of a breakthrough technology to transform greenhouse gases into gasoline and other portable fuels, today asserts its belief that Gas-To-Liquids (GTL) fuel technology is key to the United States goal of energy independence following the release of the Annual Energy Outlook 2010 projections from the U.S. Energy Information Administration (EIA).
“The crisis that our country faces is how to obtain the quantities of liquid fuel required to maintain our standard of living and drive future growth without using petroleum, foreign or domestic,” stated Byron Elton, CEO, Carbon Sciences. “The EIA predicts that world energy consumption will skyrocket 49 percent over the next 25 years. Of all the alternative fuel technologies under development, GTL technology is the only one with the ability to significantly replace petroleum and provide the nearly 140 billion gallons of gasoline we use each year,” added Elton.
Gas-to-liquids is a refinery process that converts natural gas and other gaseous hydrocarbons into longer chain hydrocarbons such as gasoline. Carbon Sciences announced earlier this year a patent filing for a breakthrough CO2 based GTL technology to transform greenhouse gases into liquid, portable fuels.
“The use of natural gas and carbon dioxide as the feedstock for our transportation fuels offers significant advantages over petroleum,” stated Elton. “The US has over 2,000 trillion cubic feet of known, but unexplored, natural gas reserves. Our CO2 based GTL technology, when fully commercialized, can be used to produce enough gasoline for the US for 47 years without competing with current natural gas consumption of 25 trillion cubic feet, and without using a teaspoon of oil,” he added.
Many companies, including all the major oil companies have been increasing their investments in the GTL sector. Royal Dutch Shell has invested $19 billion dollars in Pearl GTL in Qatar, the world’s largest GTL plant.
“The ongoing disaster in the Gulf is a wakeup call to the United States, and the world, that we must develop alternative, domestic sources of cleaner transportation fuels that will fit into the existing infrastructure, supply chain and vehicles,” added Dr. Naveed Aslam, Chief Technology Officer for Carbon Sciences.
To imagine a world without petroleum and learn more about Carbon Sciences' breakthrough technology, please visit www.carbonsciences.com
About Carbon Sciences, Inc.
Carbon Sciences, Inc. is developing a breakthrough CO2 based gas-to-liquids technology to transform greenhouse gases into liquid portable fuels, such as gasoline, diesel and jet fuel. Innovating at the forefront of chemical engineering, we are developing highly scalable clean-tech processes to produce liquid fuels from naturally occurring or human-made greenhouse gas emissions. From sources such as natural gas fields, refinery flare gas, landfill gas, municipal waste, algae and other biomass, there is an abundant supply of inexpensive feedstock available to produce large and sustainable quantities of liquid fuel to replace petroleum for global consumption, thereby eliminating our dependence on petroleum. To learn more about the Company, please visit our website at http://www.carbonsciences.com.
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