Regina, Saskatchewan--(Newsfile Corp. - February 5, 2020) - HTC Extraction Systems (TSXV: HTC) (OTCQB: HTPRF) announces that the HTC's patented extraction technology has been selected to supply extracted CO2 for the prestigious $20 million NRG COSIA Carbon Xprize competition.
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Xprize Press release excerpts:
New York - "The Xprize competition is four-and-a-half-year global competition, that challenges teams to transform the way the world addresses carbon dioxide (CO2) emissions through breakthrough circular carbon technologies that convert carbon dioxide emissions from power plants into valuable products.
The 10 finalists selected range from carbon capture entrepreneurs and start-ups to academic institutions and companies that have been tackling the challenge for more than a decade, the finalists hail from five countries and have already demonstrated conversion of CO2 into a wide variety of products, such as enhanced concrete, liquid fuels, plastics and carbon fiber. The universe of potential CO2-based products crosses a variety of energy sectors, industrial processes and consumer products. Each finalist team passed a first-round evaluation based on the amount of CO2 converted into products, as well as the economic value, market size and CO2 uptake potential of those products.
In the finals, teams must demonstrate at a scale that is at least 10 times greater than the semifinals requirements at one of two purpose-built industrial test sites. Five of the teams competing will test their technologies at the Wyoming Integrated Test Center (ITC), a cutting-edge carbon research facility in Gillette, WY, USA, co-located with the Dry Fork Station coal power plant. The five teams competing in the Alberta track, will test their technologies at the Alberta Carbon Conversion Technology Centre, (ACCT) a new carbon conversion research hub co-located with the Shepard Energy Centre natural gas power plant in Calgary, Alberta, Canada."
HTC has been selected to provide the extracted CO2 for the Alberta Carbon Conversion Technology Centre (ACCTC), test facility, and has custom designed the HTC CO2 Extraction plant to provide the required CO2 as well as provide the flexibility for future CO2 extraction testing requirements. The plant is being engineered and fabricated with HTC partner ASCO CO2, with delivery of the CO2 Extraction Plant expected by April 2020.
"The $20 million NRG COSIA Carbon XPRIZE is a global competition to develop breakgrhough technologies that will convert CO2 emissions from power plants and industrial facilities into valuable products like building materials, alternative fuels and other items that we use every day." (Excerpt from the XPRIZE web site)
HTC's CO2 Reduction Leadership
Global Leaders gathered at the World Economic Forum in Davos last week to cast a light on the challenges and opportunities that will shape our future prosperity. The theme of "stakeholder capitalism" challenged attendees to determine how business can better serve society.
Microsoft is one of those companies that is making an ambitious commitment to eliminate its carbon footprint by pledging to go "carbon negative" in the next decade and investing $1 billion to help develop clean technologies.
"While the world will need to reach net zero, those of us who can afford to move faster and go further should do so," Microsoft's president Brad Smith said in a statement.
HTC's renowned technology team, led by Dr. Ahmed Aboudheir, has been on this path for the past 15 years in providing globally patented technologies to extract CO2 and help create cleaner energy. The Xprize demonstration plant will provide a high profile facility that will allow HTC to demonstrate its extraction and reclaiming technologies to energy and industrial processing industry costumers and as well a high volume of "eco business," "eco bureaucrats" and "eco tourists" that will be viewing the ACCT facility to see what is being proposed for the capture and utilization of CO2. The Xprize committee is also planning on featuring the ACCT facility on such notable TV programs such NOVA and the Smithsonian Channel, which will provide high profile media exposure for HTC's extraction solutions.
For more information on Xprize please see www.xprize.org
For more information on HTC Extraction Systems please see www.htcco2systems.com
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