Global Energy and Hydrogen Technologies Corp, or HTC Purenergy, signed a memorandum of understanding to form a new company, Carbon Management Technologies (CMT). The new company will capture and store the carbon dioxide that will result from Global Energy's converting coal and petroleum coke into synthetic gas and will use the CO2 for enhanced oil recovery.
Global Energy will own 70% of CMT while HTC Purenergy will own 30%. The new technology will be used at a new plant in Lima, OH. HTC Vice President Jeff Allison said, "The new company will take the CO2 and then market it to the various oil fields around [Ohio]. We'll also do some work with regard to helping those oil companies set up enhanced oil recovery programs in that area." Global Energy's gasification process will leave the CO2 pressured and in liquid form, while CMT will pipe it in liquid form to the oil field where in turn it will be pumped into the ground. HTC would then be responsible for storing the CO2, using saline aquifers, unmineable coal beds and oil and gas fields.