NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Concurrent with President-elect Donald Trump's meeting with Japan's Prime Minister Shinzo Abe, NextCoal International, Inc. ("NCI") said it intends to build a job-creating Rural Economic Development Renewable Fuels Center ("REDRFC") in northern New York State with the involvement of Japanese strategic and institutional investors. The project aims to manufacture bio-coal for export to Japanese power plants and bio-oil for domestic industrial applications.
Bio-coal is a drop-in fossil coal substitute for co-firing in coal power plants or fueling biopower plants. Bio-oil is a petroleum substitute that can be co-processed in petroleum refineries or combusted to heat buildings or to generate electricity.
Bio-oil is produced by a process called pyrolysis; bio-coal, by a mild form of pyrolysis called torrefaction. NCI's selected bio-coal and bio-oil technologies are commercially proven and guaranteed by large engineering, procurement and construction companies.
The feedstock for producing both bio-coal and bio-oil is sustainable woody biomass derived from responsible forestry operations.
NCI's REDRFC, to be built on a rail-served site in rural Washington County, about 250 miles north of New York City, is expected to create 30 REDRFC jobs and to create and support approximately 300 additional jobs in forestry, engineering, construction, transportation and other fields.
NCI intends to develop REFDRFCs in several Atlantic and Pacific coastal states in areas like Washington County that boast abundant supplies of sustainable woody biomass.
In a coincidence of history, America's first Consul General to Japan, Townsend Harris (1804-1878), was born and lived as a boy in Washington County before moving to New York City. He is credited with opening Japan to foreign trade and culture, and his memory is honored to this day in Japan. A successful merchant, Harris also headed New York City's Board of Education and founded the City College of New York (CCNY).
"Townsend Harris was a great visionary, but he couldn't possibly imagine his diplomacy with Japan would eventually lead to Japanese investment in his native NY State and to manufacturing renewable fuel in Rural America for export to Japan," said NCI Chairman Jonathan Braun, himself a CCNY graduate. "NCI's plan to manufacture bio-coal in Rural America highlights the global economy's true value-creating potential."
CONTACT: Jonathan Braun, 802-375-7504
Email Link: http://www.nextcoal.com/contact
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nextcoal-international-announces-job-creating-new-york-state-rural-renewable-fuels-project-to-produce-bio-coal-for-export-to-japan-bio-oil-for-domestic-use-300364422.html
SOURCE NextCoal International, Inc.