October 01, 2007 13:03 ET

Clean Coal - Carbon Capture - Enhanced Oil Recovery

BRISBANE, AUSTRALIA--(Marketwire - October 1, 2007) - EESTech Inc. (OTCBB: EESH), a company focused on acquiring promising economical and environmentally sustainable technologies for commercialisation, is proving "green technology" is the way of the future.

On September 5, 2007, EESTech Inc. entered into a Power Purchase & Fuel Supply Agreement ("Supply Agreement") with Beijing XingliYuan Science & Technology Co, on its own behalf and on behalf of eleven domestic coal companies in China. The Supply Agreement represents agreed model terms and conditions for one Hybrid Coal Gas Turbines ("HCGT") for each of the eleven mine companies.

The agreed model terms provide for power purchase and fuel supply agreements having a term of 20 years and the construction and commissioning of eleven 30Mw HCGT systems in accordance with agreed arrangements for design, planning and implementation.

A market report has identified over 1,000 further locations where deployment of the HCGT system can provide cost-effective, distributed electricity generation utilising coal waste and fugitive methane.

Uses waste coal, Destroys Methane, Produces Carbon Credits

The patented HCGT was developed by an Australian Government registered research organization. In July 2007 EESTech Inc. (through its affiliated companies) completed negotiations and acquired the exclusive worldwide commercialisation and marketing rights to the HCGT.

HCGT uses coal waste, ventilated air methane or biomass to produce electricity. Revenues from each 30Mw HCGT system include the sale of electricity under power purchase agreements and the sale of CDM-approved carbon credits.

Cost-effective power supply, safer mining environment

EESTech Inc.'s CEO, Murray Bailey, said, "This technology will fill a gap in the power generation market where large-scale power generators would have difficulty providing cost-effective technology and plant.

"HCGT is a complementary technology when combined with the companies Jet Water Purification System (JWS). The use of the HCGT/JWS units will set a new industry benchmark by combining two processes: generating electricity and cleaning contaminated water.

"Importantly, the HCGT and JWS operate to mitigate the environmental impacts of coal mining by lowering fugitive methane emissions from underground mines plus reducing acid run-off, gaseous emissions from mining operations and waste coal stockpiles. At the same time it has cost advantages with power production and waste coal management."

Carbon capture and storage technology

EESTech Inc. is pleased to announce that on September 24, 2007 it completed the first stage of an exclusive Commercial Business Development Agreement with the Canadian company, HTC Pure Energy Ltd, for a Carbon Capture and Storage (CCS) technology.

The CCS technology was developed in conjunction with the world-renowned University Of Regina's Greenhouse Gas Technology Centre and the International Test Centre for CO2 capture in Saskatchewan, Canada.

EESTech Inc. now has the exclusive rights to commercialise this technology throughout many of the world's major coal-producing countries including China.

The HCGT and JWS will integrate efficiently with the CCS technology, allowing coal facilities to utilise products such as low-grade waste coal and fugitive methane from coal mines to efficiently generate the necessary steam and electricity for the CCS process.

The CEO continued to say, "The HCGT in combination with the JWS and the CCS system offers a real solution in reducing the effects of global warming by capturing greenhouse gas emissions from large coal and oil fired power stations, steel foundries and oil refineries."

Carbon capture for enhanced oil recovery

Preliminary analysis indicates that the successful integration of the HCGT and CCS technologies may reduce the cost of CO2 capture by up to 40%. The utilisation of captured CO2 for Enhanced Oil Recovery (EOR) is rapidly becoming a significant means by which oil field operators are extending the life of depleted oil reserves. It has been recorded that oil fields are yielding an increase of up to 6.5 barrels of oil for every ton of CO2 injected.

By combining the two technologies, EESTech Inc. will provide a cost-effective system for the supply of CO2 for EOR in developing EOR regions. Where oil reserves are becoming low, EOR can potentially double the availability of reserves and extend the life of an oil field by up to 20 (twenty) years.

Over the past 18 months EESTech Inc. has moved from a company with one technology, the JWS, to a company that has three of the most advanced technologies for application in the worldwide energy industry, while at the same time addressing environmental concerns.

Following these announcements, EESTech Inc. will now seek to increase its authorised share capital allowing for the acquisition and commercialisation of these technologies while continuing the financial growth of the company.

EESTech Inc. today announced to shareholders that they have satisfactorily entered into a commercial alliance with project development experts Coffey International.

"EESTech Inc. is pleased to advise our shareholders that Coffey Projects has agreed to accept the responsibility for project development and management for the project. Initially this role will focus on the project definition and feasibility and provide an independent review of the Project Proposal," Mr Bailey said.

Whilst each of these milestones represents a huge step forward in terms of clean coal technology, the combined efficiency of technologies and plants will create new standards of environmental management in the power production industry.

EESTech Inc. (formerly Aqua Dyne Inc) was incorporated in the US and is a US Corporation permitted to trade stock on the US Bulletin Board.

EESTech Inc. trades on the US Bulletin Board and uses the stock symbol EESH.OB (Previously AQDY.OB).

Contact Information

  • For further information, images or interview:
    Susan McGrady-BBS
    +61 7 3221 6711