RENO, Nev., Dec. 28, 2016 /PRNewswire/ -- Alternative Petroleum Technologies (APT) has received funding to continue commercialization of its proprietary oxidative desulfurization technology (ODS). The additional capital will allow completion and operation of the diesel liquid catalyst pilot plant and further optimization of the solid catalyst plant over the coming months.
The new funding was provided by two funds managed by Atlanta-based investment firm, West Mountain, LLC. "APT has the technology and the IP (intellectual property) to completely upend the fuel desulphurization market and do it as the least expensive, most environmentally friendly, and safest competitor," said Paul Alar, founder and Managing Director of West Mountain. Until this most recent investment, Mr. Alar's West Mountain funds have made indirect investments through a separate fund. This time, they are making a direct investment for equity.
ODS removes sulfur from petroleum products by using its proprietary catalysts to combine oxygen with the sulfur in the fuel, thus allowing it to be removed easily by a number of methods. The process is accomplished at ambient temperatures and pressures in a typical factory setting, in comparison to the current industry technology that uses hydrogen at temperatures ranging from 300 – 400° C and pressures ranging from 30 to 130 atmospheres. These intense conditions require a "hydrotreater" at a refinery. The APT ODS plants have lower impact on the environment and can be placed at locations other than refineries – for example at fuel distributors, ports and trans-fuel locations. This also makes ODS a less expensive process than the current process for removing sulfur.
On December 2, APT completed the initial commissioning and test operations of its Solid Oxidative Desulfurization (SCOD) plant. Initial results showed a reduction in sulfur of about 85% with minimal deviation from the original design information provided by the laboratory work. APT continues to refine the process.
Work on the Liquid Oxidative Desulfurization (LCOD) plant has begun. This will be a diesel plant and it is expected to be completed by the end of January 2017.
About Alternative Petroleum Technologies
Alternative Petroleum Technologies (APT) is an environmental technology company dedicated to comprehensive cost-effective solutions to environmental problems. With more than 100 worldwide patents and patent applications, APT is the worldwide master licensee of the world's most extensive emulsified fuel technology platform.
Using its protected technologies, APT has developed products that provide economical ways to address the increasingly stringent environmental and emission regulations globally to:
- Enhance combustion efficiency of fuel oil for industrial furnaces and boilers;
- Substitute water for expensive light distillates (i.e. diesel) in producing heavy fuel oil (HFO); and
- Reduce Nitrogen Oxide (NOx) emissions, the key hurdle to global adoption of biofuel and biodiesel based products.
- Remove sulfur from petroleum in ways that are both more economical as well as more environmentally friendly than methods in current use.
About West Mountain, LLC
West Mountain, LLC is the manager of boutique multi-strategy, multi-manager funds of funds designed to preserve investor capital while capturing outsized growth opportunities regardless of market conditions. The funds invest away from the market into non-correlated, emerging/unconventional niche managers in order to produce reliable, long-term alpha and low downside volatility. In 2008, InvestHedge named West Mountain Partners, LP the best performing emerging managers fund of funds in the world*. Most recently, in 2013 BarclayHedge named West Mountain Partners, LP the best performing fund of funds in the world**.
West Mountain can be found online at www.westmountainllc.com.
This is not an offering or the solicitation of an offer to purchase an interest in any West Mountain products. Any such offer or solicitation will only be made to qualified investors by means of a confidential private placement memorandum and only in those jurisdictions where permitted by law.
An investment in any West Mountain product is speculative and involves a high degree of risk. Opportunities for withdrawal, redemption and transferability of interests are restricted, so investors may not have access to capital when it is needed. There is no secondary market for the interests and none is expected to develop.
The fees and expenses charged in connection with this investment may be higher than the fees and expenses of other investment alternatives and may offset profits. No assurance can be given that investment objectives will be achieved or that an investor will receive a return of all or part of his or her investment. Past performance is not necessarily indicative of future results. Investment results may vary substantially over any given time period.
*Criteria for inclusion was based on performance generated from January 1, 2008 through December 31, 2008, which included all emerging managers funds of funds within InvestHedge Magazine's coverage universe.
**Criteria for inclusion was based on performance generated from January 1, 2013 through December 31, 2013 which included all funds of funds between $10 million and $250 million within BarclayHedge's coverage universe.
PRLog ID: www.prlog.org/12610285
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SOURCE Alternative Petroleum Technologies