SACRAMENTO, Calif.--(BUSINESS WIRE)--Greyrock Energy today announced the company has been recognized by the World Bank’s Global Gas Flare Reduction Partnership (GGFRP) as the most advanced new technology provider of Mini Gas-to-Liquid (GTL) systems in a report evaluating associated gas monetization solutions. This is the company’s first appearance in the biannual report by World Bank/GGFRP that debuted in 2011. The results were presented this week at the Energy Frontiers International Gas-to-Market Conversion Forum in Pittsburg, Pennsylvania.
The second World Bank/GGFRP report contains one the most comprehensive studies of mini or small-scale GTL technologies available today. More than 24 companies, including Greyrock, were evaluated to identify those that most provide: relatively low technical risk; commercially viable options; and potential solutions for GGFRP members to select in the process to reduce flaring and monetization of gas streams.
A key attribute positioning Greyrock as an innovative leader in the World Bank/GGFRP report is the company’s use of its proprietary GreyCat™ catalyst that directly converts syngas into fuels, completely eliminating the need for a final refining process required by most other GTL market players. Greyrock has also deployed both pilot and commercial demonstration GTL plants, providing a strong foundation for commercial scale deployment.
Greyrock’s small-scale GTL solutions enable the production of directly usable transportation fuels from a variety of abundant gas sources, including natural gas, natural gas liquids, stranded gas resources and associated gas. Associated gas, which is gas produced in conjunction with oil, is in many cases flared due to lack of available infrastructure to get the gas to market. Due to stricter flaring regulations, associated natural gas is seen as a cost of oil production in many areas. According to World Bank, gas flaring produces some 400 million tons of greenhouse gas emissions per year worldwide. Therefore, Greyrock’s GTL solutions also make an environmental impact by reducing the occurrence of unnecessary flaring efforts.
“Greyrock Energy is proud of the leadership position the World Bank and Global Gas Flare Reduction Partnership report has put us in across the highly competitive small-scale GTL market,” said Robert Schuetzle, CEO, Greyrock Energy. “Our innovative GTL conversion solutions quickly provide a transportation grade diesel fuel from natural gas while also reducing regional environmental concerns resulting from the flaring of associated gas.”
“We believe Greyrock has strongly demonstrated an operational model for success in the small-scale GTL industry and is duly recognized as one of the prominent forerunners to commercialization,” said Dr. Theo Fleisch, advisor and writer of the World Bank and Global Gas Flare Reduction Partnership report.
About Greyrock Energy
Greyrock Energy enables natural gas producers and midstream companies to take full advantage of the industry’s unprecedented levels of shale gas production by transforming natural gas potential worldwide with commercially available, small-scale gas-to-liquid (GTL) systems. Now, Greyrock partners can profit by transforming abundant, low-cost natural gas into higher-value transportation fuels without the costly, large-scale processes larger operators must support with traditional GTL solutions. This revolutionary technology permits more flexible deployment of small-scale GTL processing systems. Founded in 2006 and headquartered in Sacramento, CA, Greyrock Energy’s groundbreaking GTL process converts natural gas into pump-ready transportation fuels. For more information, please visit http://www.greyrock.com.