FARMINGDALE, NY, Sept. 12, 2016 /PRNewswire/ - Global climate change is back in the headlines, led by the Paris climate agreement deadline approaching and news that this year is going to be even hotter than the record-setting heat in 2015, which was hotter than the record set in 2014. China and the United States, the two biggest air polluters in the world, recently agreed to lead by example by ratifying the Paris agreement in the battle to combat global warming by reducing greenhouse emissions. The world's two biggest economies pledging to, as President Obama puts it, "put your money where your mouth is," makes it even more likely that the Paris agreement will be put into effect. President Obama and China President Xi Jinping putting other differences aside and vowing to act as ambassadors for slowing global warming is a big step in the right direction towards getting a requisite of 55 countries representing 55 percent of global emissions to ratify the Paris agreement.
If put into force, the agreement will mean that roughly 200 countries worldwide will work united to slash emissions and meet the goal of maintaining temperatures below 1.5 degrees Celsius above pre-industrial levels. This will truly take worldwide cooperation and necessitate the sharing of technological advancements (and wealth) globally for the good of future generations.
The U.S. and China have already curbed coal consumption as a means to lower greenhouse gas pollution, but make no mistake, both countries still rely on coal for power generation.
While it is certainly fair to point a demonstrable finger at coal as a leading culprit in greenhouse gases, different countries face various challenges. For example, Canada generates 44 percent of its greenhouse gases in the industrial sector, which includes oil and gas production and refining. For most developing markets, such as India and Southeast Asia, coal, as an affordable product for dependable energy production, is now and for the foreseeable future will remain the only viable option.
To that point, it's necessary to use technology to make the dirty energy source cleaner.
Saagar Govil, CEO at Cemtrex Inc. (NASDAQ: CETX), sees an opportunity to capitalize on a growing greenhouse gas reduction market and has kept the diversified company's Industrial Products & Services division squarely focused on the $47 billion air pollution control industry. Amongst other products and services for commercial and industrial applications, the IPS unit provides monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and greenhouse gases used in carbon trading globally.
In particular, a large market opportunity exists for Cemtrex's VAMOX methane abatement technology. Moving in lockstep with tightening regulations, the market could be catalyzed by leading countries working to implement cap and trade programs to reduce harmful emissions. As countries like China, who has long been criticized for being unreceptive to changing emissions regulations, turn to cap and trade, it's probable that other countries, the U.S. not withstanding, will follow. With VAMOX, Cemtrex boasts being one of only two companies in the world with carbon-capture technology succinctly aligned with cap and trade programs and the Paris agreement.
At $2 million per VAMOX system and with thousands of potential installations worldwide, Govil says it is a multi-billion-dollar opportunity for Cemtrex.
For the future, Cemtrex is looking beyond monitoring and reducing greenhouse gases to strengthen its foothold in the sector. Late in July, the company disclosed a new initiative to set up a research pilot plant for the production of graphene by isolating carbon dioxide from flue gases at its Farmingdale, NY facility.
In the simplest sense, graphene is a single layer of carbon atoms. A million times thinner than a piece of paper, it's so thin that it is considered to be the first two-dimensional material ever, yet stronger than diamond and more conductive than copper. Discovered just over a decade ago, graphene is hailed as a super-material with infinite potential applications in electronics, communications, lubricants and much more.
Cemtrex initially plans on researching new concepts to generate graphene nanoparticles while capturing Sulfur dioxide, nitrogen oxides and carbon dioxide from flue gases (gases from furnaces, boilers, generators, etc. exhausted into the atmosphere). Ultimately, what Cemtrex is aiming to accomplish is capturing pollutants and repurposing the carbon into what is arguably the world's most advanced material.
"We want to have a stake in the production of the graphene nanoparticles and are looking at ways to accomplish this, using sustainable and ecofriendly methods," said Sagaar Govil in the news announcement of the upcoming research.
The U.S. Energy Information Administration estimates that coal-fired global electric production in 2040 will likely rise 23 percent from 2012 levels. Despite best efforts, some countries turning away from nuclear power due to disastrous accidents and others that simply can't afford the cost and possible intermittent nature of renewables underscore the rise in coal usage. With that in mind, the world will be best served to employ innovation to control greenhouses gases, especially those that can take carbon emission and turn it into something productive. Cemtrex hopes to commence its pilot project by mid-January.
To learn more about Cemtrex, visit the corporate website at www.cemtrex.com.
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SOURCE Cemtrex, Inc.