TOOWOOMBA, Australia, Oct. 9, 2014 /PRNewswire/ -- FuturEnergy Pty Ltd, an Australian based combustion research and development Company, announced today that it has submitted a pioneer patent, on combusting coal emissions containing CO2 in a secondary post combustion chamber with MagneGas® fuel. The patent, 'Utilising synergistic mixture of fuel to produce energy and reduce emissions in boilers,' was filed with the Australian patent office on 30th July 2014.
This revolutionary patent significantly alleviates a strategic problem affecting the Coal Fired Power Industry today, namely harmful emission and the release of vast quantizes of CO2, a powerful greenhouse gas. While legacy technology deals with emissions from Coal Fired Power plants using complex pollution control systems this new technology transforms the coal flue gas or smoke into a fuel by igniting it using MagneGas®.
This revolutionary technology combines the flue gas from coal combustion with MagneGas® in a special post-combustion chamber which transforms this polluting waste stream into an energy stream by literally burning the smoke from coal fired power plants. The result of the FuturEnergy post-combustion process results in overall emission equal or better than natural gas and a reduction of up to 40% in CO2.
The Company estimates that the typical Coal Fired Power Plant will be able to reduce CO2 Emissions by up to 40% and through efficiency improvements, the conservative estimated saving in coal consumption is approximately 20% but will likely be more. Other harmful emissions and particulates are also abated which the Company believes will reduce the investment and operating costs of currently used emission control equipment.
Based on the Australian market a typical Power plant will benefit from a monthly conservative coal efficiency savings of $1.2 Million per power plant, when extrapolated over the power stations in Australia this amounts to estimated $40 million in monthly coal savings alone. Other markets such as Europe where CO2 is taxed would achieve a much higher potential savings.
According to the World Coal Association there are more than 7,000 Coal Fired Power units world-wide therefore the potential savings and value of this patent is significant and constitutes a new strategic asset to the power industry. Future Energy and MagneGas Corp are working with partners in each region to validate, commercialize and monetize this patent.
"The initial breakthrough occurred when we added MagneGas® to LPG, and we then progressed to coal, bitumen and rubber. On each occasion, CO2 emissions were drastically reduced, overall combustion efficiency increased with a subsequent increases in heat," said David Johnston, Managing Director FuturEnergy.
"The FuturEnergy team have worked very hard to bring the concept from theory to practice and have demonstrated a unique combination of strategic vision and broad technical ability in combustion," commented Ermanno Santilli CEO of MagneGas Corp. "This combination of capabilities has been crucial to attract regional partners in certification and commercialization and makes our joint venture with FuturEnergy very strong."
"It all commenced with the first imports of MagneGas® fuel from the USA when we noted its extremely high flame temperatures and realized there would be applications in combustion. FuturEnergy researched thirty one industries in which MagneGas® fuel would add most value and defined that the coal fired power industry would be our first target market. We then set about forming a team to research and trial this new technology of capturing and burning coal emissions," said David Johnston, "but we are also actively pursuing other industries such as transportation markets which have equally large potential market opportunities for FuturEnergy and MagneGas®."
Future Energy Pty Ltd:
FuturEnergy was established in February 2011, to research and develop renewable fuels in co-combustion heating markets. The company has focused on combustion in solid, and gaseous fuels using MagneGas®. As emissions tests have been successful, stage two certification and investment are commencing in 2014 / 2015.
About MagneGas Corporation:
Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is a technology Company that counts among its inventions, a patented process that converts liquid waste into hydrogen based fuels. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene. It is also selling equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at www.MagneGas.com.
SOURCE FuturEnergy Pty Ltd