JOHANNESBURG, South Africa, Sept. 16, 2016 /PRNewswire/ -- Anglo American Platinum Limited ("Anglo American Platinum" or the "Company") announces an investment in Greyrock Energy, Inc. (Greyrock), the leader in small scale gas-to-liquids technology. Greyrock's systems, use proprietary catalysts to convert methane rich feedstocks into premium transportation fuels while also generating significant potential environmental benefits. Greyrock's catalysts incorporate metals produced by Anglo American Platinum.
The Greyrock process, which produces hydrogen as a by-product, will provide an alternative source for hydrogen and support lowering the costs associated with hydrogen delivery for use in fuel cell electric vehicles (FCEVs). By accelerating the commercialization of Greyrock's technology, the investment is aimed at driving demand for PGMs both directly and indirectly through enabling the adoption of FCEVs, which require platinum based catalysts.
Greyrock's Direct Fuels Production™ and Flare-to-Fuels™ product lines convert flare gas, natural gas, natural gas liquids, bio-gas, or other similar feedstocks that would otherwise be wasted into clean liquid transportation fuels, with hydrogen produced as a by-product during the process.
This investment forms part of Anglo American Platinum's Platinum Group Metals (PGM) Investment Programme, which provides growth capital to companies that can demonstrate the commercial viability of products or technologies that use or enable the use of the company's metals. Greyrock has synergies with previous investments, Hydrogenious Technologies and United Hydrogen Group. Together, these companies could significantly reduce the delivered costs of hydrogen, laying the foundation for large scale adoption of zero emissions fuel cell technology. Anglo American Platinum also has investments in three global fuel cell companies, Ballard Power Systems, Altergy Systems and Johnson Matthey Fuel Cells.
Andrew Hinkly, Executive Head of Marketing at Anglo American Platinum, said, "We support the commercialisation of new applications that use our metals, particularly those that are synergistic with our business and existing portfolio companies. Greyrock's systems produce clean transportation fuels that could be used by Anglo American in its operations while simultaneously providing a solution to the environmental challenge posed by flaring. This investment in Greyrock boosts demand for our metals while simultaneously working to reduce the delivered cost of liquid fuels and hydrogen. Our investment in Greyrock adds yet another building block to our portfolio of investments."
Robert Schuetzle, CEO of Greyrock, said, '"We are excited to partner with Anglo American Platinum. Their investment will allow us to accelerate the deployment of our technology across the globe. In addition to adding Anglo American Platinum as a strategic investor, Greyrock looks forward to working with the Company in other important areas where there are synergies."
About the Platinum Group Metals (PGM) Investment Programme
Anglo American Platinum's Platinum Group Metals (PGM) Investment Programme was established in 2013 and sits at the heart of the broader market development undertaken by the Group. The PGM Investment Programme will provide early stage capital and/or growth capital to companies that can demonstrate the commercial viability of products or technologies that use or enable the use of the company's metals. The programme aims to facilitate additional benefits in the form of reliability of PGM supply and long term pricing benefits as well as exploring the broad Anglo American industrial complex for commercial opportunities.
Further Information on Greyrock Energy, Inc.
Greyrock has developed its state of the art Direct Fuel Production™ technology and GreyCat™ catalyst, enabling production of clean liquid fuels from a variety of gas resources, including flare gas, bio-gas, natural gas, and natural gas liquids. Greyrock systems enable customers to solve key environmental and energy challenges. The company is based in the United States of America.
Flare gas is produced in the processing of crude oil and is often flared (or burned). Burning flare gas produces carbon dioxide (CO2), nitrogen oxides (NOx), carbon black, and other pollutants. Flaring can also release methane, which, according the United States Environmental Protection Agency, is a greenhouse gas 25 times more potent than CO2. The World Bank estimates that globally, approximately 140 billion cubic meters (~5 trillion cubic feet) of natural gas is flared annually, resulting in the emission of more than 300 million tons of CO2. Eliminating these emissions would be equivalent to removing more than 77 million cars from the road.
Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world's leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations.
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from diamonds (through De Beers) to platinum and other precious metals and copper – to our customers around the world.
As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference.
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SOURCE Greyrock Energy, Inc.