SANTA BARBARA, CA--(Marketwire - June 22, 2010) - Carbon Sciences Inc. (
"The crisis that our country faces is how to obtain the quantities of liquid fuel required to maintain our standard of living and drive future growth without using petroleum, foreign or domestic," stated Byron Elton, CEO, Carbon Sciences. "The EIA predicts that world energy consumption will skyrocket 49 percent over the next 25 years. Of all the alternative fuel technologies under development, GTL technology is the only one with the ability to significantly replace petroleum and provide the nearly 140 billion gallons of gasoline we use each year," added Elton.
Gas-to-Liquids is a refinery process that converts natural gas and other gaseous hydrocarbons into longer chain hydrocarbons such as gasoline. Carbon Sciences announced earlier this year a patent filing for a breakthrough CO2-based GTL technology to transform greenhouse gases into liquid, portable fuels.
"The use of natural gas and carbon dioxide as the feedstock for our transportation fuels offers significant advantages over petroleum," stated Elton. "The US has over 2,000 trillion cubic feet of known, but unexplored, natural gas reserves. Our CO2-based GTL technology, when fully commercialized, can be used to produce enough gasoline for the US for 47 years without competing with current natural gas consumption of 25 trillion cubic feet, and without using a teaspoon of oil," he added.
Many companies, including all the major oil companies have been increasing their investments in the GTL sector. Royal Dutch Shell has invested $19 billion in Pearl GTL in Qatar, the world's largest GTL plant.
"The ongoing disaster in the Gulf is a wakeup call to the United States, and the world, that we must develop alternative, domestic sources of cleaner transportation fuels that will fit into the existing infrastructure, supply chain and vehicles," added Dr. Naveed Aslam, Chief Technology Officer for Carbon Sciences.
To imagine a world without petroleum and learn more about Carbon Sciences' breakthrough technology, please visit www.carbonsciences.com
About Carbon Sciences Inc.
Carbon Sciences Inc. is developing a breakthrough CO2-based Gas-to-Liquids technology to transform greenhouse gases into liquid portable fuels, such as gasoline, diesel and jet fuel. Innovating at the forefront of chemical engineering, we are developing highly scalable clean-tech processes to produce liquid fuels from naturally occurring or human-made greenhouse gas emissions. From sources such as natural gas fields, refinery flare gas, landfill gas, municipal waste, algae and other biomass, there is an abundant supply of inexpensive feedstock available to produce large and sustainable quantities of liquid fuel to replace petroleum for global consumption, thereby eliminating our dependence on petroleum. To learn more about the Company, please visit our website at http://www.carbonsciences.com.
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Contact Information:
Media Relations Contact:
Christina Brozek
Avalanche Strategic Communications
(201) 488-0049