Tag Archives: systems
Cool Planet Raises Additional $19.4 Million In Funding
By Cool Planet Energy Systems | September 18, 2013 Cool Planet Energy Systems, a developer of small-scale bio-refineries for the conversion of non-food biomass into fuels and soil enhancing biochar, has announced the second close of a “D round” equity raise. After closing on more than $29.9 million in June of 2013, Cool Planet has added another $19.4 million in this closing. This brings the total amount raised and committed to over $60 million, including the remaining commitments from existing investors. “While equity markets remain closed to most biofuel businesses, investors are seeing a differentiated opportunity in Cool Planet. Our drop-in cellulosic gasoline and biochar technology has global potential,” said Cool Planet CEO Howard Janzen. “A strong proof point for this potential is the impressive group of international investors who have participated in our equity raise, positioning the company for long-term growth globally.” Cool Planet will use a portion of the equity raise to finalize engineering design for the company’s first commercial facility. This work will be supported by leading international engineering firm, URS Corp., as the company recently announced. The funding will also provide capital to construct Cool Planet’s first commercial plant, which will be located at the Port of Alexandria, La. The company expects the facility to be in operation before the end of 2014, producing high-octane cellulosic gasoline and soil enhancing biochar from wood biomass. “We are very pleased to have attracted investors from around the world, which will accelerate the development of our business internationally,” said Cool Planet Chief Financial Officer Barry Rowan. “This funding, combined with the strong ongoing commitments from our current investors, keeps us squarely on our path to commercialization.” The round added investors from Hong Kong, Singapore, the United Arab Emirates (UAE), and Mexico to a marquee existing investor base, including North Bridge Venture Partners, Shea Ventures, BP, Google Ventures, Energy Technology Ventures (GE, ConocoPhillips, NRG Energy), and the Constellation division of Exelon. The new investors are committing to help bring Cool Planet’s drop-in fuel technology to countries around the world, and Cool Planet is actively developing partnerships to commercialize its technology internationally. Continue reading
UK Approves 100 MW Biomass Plant In Northumberland
Taylor Scott International Continue reading
Doosan Secures Major Boiler And Turbine Project For France’s Largest Biomass Power Plant
29 May 2013 Doosan Power Systems said it has been awarded a major biomass conversion and turbine upgrade project for E.ON’s coal-fired Provence power plant in Gardanne – Meyreuil, France. The project will help to create France’s largest biomass-fired power plant to date as part of the E.ON Group ’s “cleaner, higher performance energy” strategy, said Doosan. The new biomass unit, generating electricity from the combustion of wood – including forest chips, green residues and recovered wood – will be converted from the existing coal-fired Provence 4 unit, said the company. Doosan hopes it will provide 150MW of power with base production of more than 7500 hours per year until 2034, which corresponds to the annual electrical consumption (except for heating) of 440,000 households, reducing the CO2 balance by 600,000 tons per year. It will also extend the life of the Provence power plant for a further 20 years while helping structure and develop the region’s wood-energy industry. Work will begin this summer with the first firing in the autumn of 2014 and startup of operations in early 2015, said the company. Doosan Power Systems will be responsible for converting the existing Provence facility to biomass, in particular by converting the 20-year-old coal-fired CFB (circulating fluidised bed) boiler and renovating the steam turbine. The project will be led by the Germany-based CFB specialist, Doosan Lentjes who supplied the original CFB technology and key components for the plant in 1992. At the same time, the company’s turbine specialist, Doosan Škoda Power, will replace the inner steam path of the existing steam turbine to match the new output and enhance plant efficiency. Life-time extension works will be undertaken by Doosan Babcock on the remaining equipment so that the plant is well placed to deliver reliable performance for a further 20 years, said Doosan. The assembly of the new equipment will be subcontracted locally to ADF, a French group located in the Fos-Berre basin that specialises in the maintenance of power generation sites. The project will have a significant economic impact on the region, said the company, employing an average of 200 people over 18 months, and up to 350 in peak periods, a large number with local industrial players like ADF. Biomass plants produce electricity through the combustion of various organic materials (green wastes, chips, recovered wood). The new Provence 4 biomass unit will consume some 850,000 tonnes of biomass per year. Doosan said it plans that within ten years after the commissioning of the new unit, all the biomass will be sourced locally. Continue reading
