Greyrock Energy Inc., a provider of small-scale gas-to-liquids (GTL) technology, has received a follow-on investment from London-based AP Ventures.
Greyrock’s systems are designed to transform a variety of gas resources – including natural gas, flare gas, biogas, natural gas liquids and other feedstocks – into transportation fuels.
Greyrock’s small GTL systems provide a solution to the flaring of associated natural gas. The Global Gas Flaring Reduction Partnership, a World Bank initiative, says billions of cubic meters of natural gas are flared annually at oil production sites, wasting valuable energy resources and contributing to climate change by releasing millions of tons of CO2 into the atmosphere.
“I’m delighted with the progress made to commercialize the Greyrock technology since our original investment in Greyrock,” comments Andrew Hinkly, managing partner at AP Ventures. “The number of opportunities to develop new commercial projects using Greyrock technology is rapidly expanding, with four projects in various stages of construction and start-up.”
“AP Ventures’ ongoing investment represents their confidence in Greyrock’s proprietary technology,” adds Robert Schuetzle, CEO of Greyrock. “We are working together to advance Greyrock’s core business while providing solutions to address the significant problem of flared natural gas throughout the world.”
Greyrock claims its fuels are cleaner-burning than similar petroleum-derived fuels and, when blended with traditional fuels, can reduce vehicular emissions without any corresponding change in existing infrastructure.
Additionally, Greyrock’s systems can be deployed in remote oil fields or configured to produce high-purity hydrogen as a byproduct. This alternative source of hydrogen addresses the growing demand for fuel cell electric vehicles, the company notes.
