|Company to accelerate development of its breakthrough catalyst for more than 2,000 existing steam reforming syngas plants that reform natural gas into high value products|
Santa Barbara, CA - January 23, 2012 - Carbon Sciences, Inc. (CABN), the developer of a breakthrough technology to make transportation fuels and other valuable products from natural gas, today announced that it will add to its core technology by accelerating the development of a steam reforming version of its proprietary catalyst for use by existing synthetic gas (syngas) plants. There are more than 2,000 plants worldwide that use steam reforming of natural gas to make syngas for the production of large volume chemicals such as hydrogen, methanol, ammonia, solvents and detergent alcohols.
Byron Elton, CEO of Carbon Sciences, commented, “We are accelerating our development efforts to adapt our proprietary catalyst to meet the needs of this valuable market. By the end of 2012, we plan to demonstrate that our catalyst will deliver more output at a lower cost and will be an attractive drop-in replacement for existing steam reforming plants. The financial rewards are enormous. The current global hydrogen market exceeds $150 billion/year with methanol at more than $20 billion annually. The 2,000 existing steam reforming plants in the world usually replace their catalysts every 3-5 years. Many of these catalysts replacements cost as much as $5-$10MM.”
Gas-to-liquids (GTL) technology, based on abundant and inexpensive natural gas, offers the best solution to meet the increasing demand for liquid transportation fuels. The GTL market is still developing and represents the company’s most significant long-term market opportunity. Steam reforming of natural gas is the preferred method of producing syngas for small to mid-sized GTL plants. Carbon Sciences is targeting this market segment as a drop-in replacement opportunity for the steam-reforming version of its catalyst.
The company continues to develop the dry reforming version of its catalyst that can be used with captured CO2 or high CO2 content natural gas to make syngas.
Elton, concluded, “The key to succeeding in these market segments is a catalyst that can reduce the cost of reforming natural gas into syngas, the most costly step in making products from natural gas. We believe we have that catalyst. Completing the development and demonstrating the value of our breakthrough catalyst is Carbon Sciences’ highest priority in 2012.”
About Carbon Sciences, Inc.
Innovating at the forefront of chemical engineering, Carbon Sciences is developing a breakthrough technology to make cleaner and greener transportation fuels and other valuable products from natural gas. Our highly scalable, clean-tech process will enable the world to reduce its dependence on petroleum by transforming abundant and affordable natural gas into gasoline, diesel and jet fuel, and other products, such as hydrogen, methanol, pharmaceuticals, solvents, fertilizers, pesticides and plastics. The key to this process is a breakthrough catalyst that can reduce the cost of reforming natural gas into synthetic gas (syngas), the most costly step in making products from natural gas.
To learn more about Carbon Sciences' breakthrough technology, please visit www.carbonsciences.com and follow us on Facebook at http://www.facebook.com/carbonsciences.