ST. LOUIS, Jan. 25 /PRNewswire-FirstCall/ -- Peabody Energy (NYSE: BTU)
today announced that it has reached an agreement to become a minority investor
in Cambridge-based GreatPoint Energy, Inc. GreatPoint Energy is
commercializing its proprietary bluegas(TM) technology that converts coal,
petroleum coke and biomass into ultra-clean pipeline quality natural gas while
enabling carbon capture and storage. As part of the agreement, Peabody and
GreatPoint Energy will evaluate the potential for development of joint coal
gasification projects using Peabody reserves and land.
GreatPoint Energy uses a single-stage catalytic gasification process to
create natural gas that is 99.5 percent pure methane and can be transported
throughout North America utilizing the existing natural gas pipeline
infrastructure. They are developing the technology for commercial-scale use
for power generation, residential and commercial heating and production of
chemicals. GreatPoint Energy has completed highly successful testing in a
pilot facility in Des Plaines, Ill., and is commencing engineering for the
first commercial project.
"Using GreatPoint Energy's technology to turn coal into natural gas while
capturing carbon will provide a clean coal-based alternative to expensive
natural gas imports, while using Peabody's industry-best reserve position,"
said Rick A. Bowen, Peabody Senior Vice President of Btu Conversion and
Strategic Planning. "Peabody is advancing technology-based solutions around
the world for greater use of coal to build energy security, drive economic
growth and create environmental solutions."
Peabody is pursuing coal-to-gas projects to help build energy security and
ease reliance on expensive natural gas imports. The company also is leading
technology initiatives around the world to achieve near-zero emissions from
coal with carbon capture and storage through voluntary partnerships including
FutureGen in the United States, GreenGen in China, Coal21 in Australia and the
Peabody Energy is the world's largest private-sector coal company. Its
coal products fuel approximately 10 percent of all U.S. electricity generation
and more than 2 percent of worldwide electricity.
SOURCE Peabody Energy
CONTACT: Derrell Carter of Peabody Energy, +1-314-342-7667,