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  • Flogas Group Signs Letter of Intent with Alkcon Corporation
    édité le 12/07/2015 - Plus de news de "Flogas" - Voir la fiche entreprise de "Flogas"

Flogas Group Signs Letter of Intent with Alkcon Corporation
Alkcon Corporation (the "Company"), a developer of natural gas processing equipment, has entered into an exclusivity agreement and a Letter of Intent with Flogas Group ("Flogas") of Leicestershire, England. The agreement grants Flogas the exclusive right to market and sell the Company’s proprietary methane-to-propane gas conversion technology in the United Kingdom, Ireland, France, Norway, Sweden, Netherlands and Belgium.

Under the terms of the agreement, Flogas will purchase a minimum number of the Company’s MP32K gas conversion systems annually for five years. The agreement should result in nearly US$60 million in revenues for the Company.

Flogas intends to install the MP32K units at biogas production sites throughout Europe. Each MP32K system could produce up to 1600 metric tonnes of propane annually. The resultant biopropane will be used to enrich biomethane, increasing its caloric value, before it is injected into the national gas grid.

Alkcon Corporation CEO Lauren Scott stated, “This agreement is an important first step to making biopropane available throughout Europe. Biopropane is a clean-burning, renewable fuel which can replace autogas and liquefied petroleum gas in all consumer and industrial applications.”

Dr. Kent Hoekman, a Research Professor at the Desert Research Institute and part of the Company’s technical advisory team noted that “converting methane to propane could add substantial value to low-grade feedstocks, while significantly reducing greenhouse gas emissions.”

Deliveries of the MP32K gas processors are expected to begin in 2016.

About Alkcon Corporation

Founded in 2013, Alkcon Corporation is an early-stage company that develops chemical and physical processes relating to renewable fuels production. The company recently filed a provisional patent for their methane-to-propane conversion process. A series of industrial gas conversion products are currently in development. The potential market opportunities include oil well flaring gas recovery, coal seam gas conversion and biopropane production from biogas.

About Flogas Group

Operating as a liquefied petroleum gas (LPG) supplier since 1977, Flogas is now a leading distributor of LPG and other petroleum products across seven countries in Europe. Flogas is a subsidiary of DCC plc, a support services company with annual revenues of £11 billion and quoted on the London Stock Exchange.

Origine : Communiqué Flogas

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