China's Largest Electric Utility Centralizes Its Clean Energy Programs
Partner EmberClear Applauds Move
CALGARY, Dec. 14 /CNW/ - EmberClear (TSXV: EMB) applauds Huaneng Power Group (NYSE: HNP) for the formation of their new corporation called the Clean Energy Research Institute (CERI). Dr. Shisen Xu, CTO of Huaneng Power will be the CEO of CERI.
CERI will consolidate and control the development and direction of all clean energy initiatives for the Huaneng Power Group, China's largest electricity producer. Prior to Huaneng's centralization effort, support and development of clean technology projects have been spread across multiple entities within Huaneng. The new entity will ensure global leadership for the highest conversion efficiencies at competitive prices will be maintained and optimized for future customers.
"The impressive record of creating and commercializing the technology in China creates new global demand from countries, utilities, and consumers sensitive to climate change," stated Albert Lin, CEO of EmberClear. "We congratulate Huaneng Power for taking such an important step to ensure the global market for the CERI technology will be more easily developed and supported."
The new structure will provide improved levels of response and accountability for clients and future customers: those looking to utilize the myriad technologies available for converting coal - and other fossil fuels - into better forms of energy or chemical compounds. Specifically, CERI will consolidate all thermal chemistry technologies developed over the last several decades by various Huaneng divisions.
The formation of CERI reflects the increasing dedication and focus on clean energy technologies such as gasification, ultra supercritical (USC) combustion, supercritical (SC) combustion, circulating fluidized bed (CFB), post combustion carbon dioxide handling, and other related processes.
Most recently, these technologies have been implemented in highly visible projects like the near-zero emissions coal-based power plant in Tianjin, China called GreenGen. Additionally, EmberClear's Good Spring IGCC plant in Pennsylvania is designed to use gasification technology from CERI.
About EmberClear
EmberClear develops energy projects around the world and intends to acquire Future Ventures of Houston, Texas USA. Future Ventures' wholly owned subsidiary, Future Fuels LLC, is the joint venture partner with EmberClear in Future Power PA Inc. (FPPI). The combined entities will develop advanced carbon based gasification projects using various technologies in thermal chemistry acquired by exclusive and non-exclusive licenses. The combined entities will hold options to lease land, options to access coal reserves, technology licenses and other project related assets. An information circular has been mailed for a special shareholder meeting on December 17, 2010. For more information please visit www.emberclear.com.
About Huaneng Power Group
Huaneng Power Group is the largest power utility in China and formed after China Power was changed from a single state run organization into five power generation companies. With over 120 GW of generation assets, Huaneng Power Group aims to be a leader in the development and deployment of economically and ecologically sound energy solutions.
Safe Harbour for Forward-Looking Statements
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target", "seek", "budget", "predict", "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: statements about the proposal to acquire Future Ventures LLC, the performance characteristics of the IGCC technology and the performance characteristics of other plants using IGCC technology, and EmberClear intends that such forward-looking statements be subject to the safe harbour created thereby. Forward-looking statements are subject to numerous assumptions and risks and should not be unduly relied upon as EmberClear can provide no assurance that the expectations contained in such forward-looking statements will materialize as anticipated or at all. Such assumptions and risks include the potential failure of the Good Spring IGCC and/or the IGCC technology to perform as anticipated. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws. EmberClear does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information:
David G. Anderson
CFO
+1.403.264.8817
Karen Tanaka
+1.403.264.8817
Share this article