HOUSTON--(BUSINESS WIRE)--Primus Green Energy Inc. announces that along with a global petrochemical company as a joint venture partner, it has commissioned a Front End Engineering and Design (FEED) study with IHI E&C International Corporation (“IHI E&C”) for a first of its kind natural gas-to-gasoline plant in Texas.
The proposed joint venture plant will be a scaled-up version of Primus’s demonstration plant in New Jersey, which has safely and successfully produced methanol and gasoline. Underpinning the project is Primus’s patented STG+™ technology, which has been validated through over 10,000 hours of operation. The Texas plant will consume 28 MMcf/d of natural gas and produce 2,800bbl/d of gasoline.
“Primus is pleased to join forces with a strategic, large partner with significant experience in natural gas derivatives,” said Steven Murray, Chief Executive Officer of Primus. “We expect to follow this first project with several others in North America and prospectively worldwide.”
IHI E&C is an experienced contractor with directly relevant past projects in gas-to-liquids (GTL) and Steam Methane Reforming technology. “We are enthusiastic to participate in the much needed innovation to the gas value chain and look forward to working with such an accomplished team,” said Chris Celano, Chief Executive Officer of IHI E&C.
Koch Modular Process Systems, a world leading supplier of modular plants to the chemical industry, has collaborated with Primus over the past number of years in the optimization of this technology. “We are excited to be in a position to continue our working relationship with Primus,” said George Schlowsky, President of Koch Modular.
The FEED study is expected to conclude mid-2020.
“As more and more companies focus on climate change and ESG in general we feel the time to apply this technology has never been better,” said Murray. “Primus’s strategy is to build practical environmental solutions for natural gas that is currently being flared or otherwise wasted. This project enables us to commercially demonstrate our technology, while opening the door for a range of future projects that support sustainability and zero routine flaring initiatives.”
About Primus Green Energy Inc.
A global leader in gas monetization technology, Primus Green Energy™ delivers solutions based on its STG+™ technology. Headquartered in Houston, Texas with a commercial testing plant in Hillsborough, NJ, Primus has facilities for design, engineering, operator training, and remote operation, as well as R&D and catalyst development. Primus is committed to continually developing new solutions and applications – as well as to advancing the existing systems – in order to meet customers' unique business needs. Primus Green Energy is majority owned by Kenon Holdings Ltd. (NYSE:KEN/ TASE:KEN). For more information, please visit www.primusge.com.
Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements with respect to the FEED study and proposed joint venture plant and expected performance and benefits of such plant and the project as well as the strategy to follow this project with other projects. These statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties which could cause the actual results to differ materially from those indicated in such forward-looking statements, including risks relating to the FEED study and potential plant, the risk that the study is not successful, that construction of the plant does not proceed and the risk that other projects are not pursued and other risks and uncertainties related to the project. There is no undertaking to update these forward-looking statements, whether as a result of new information, future events, or otherwise.