SANTA BARBARA, CA--(Marketwire - Jan 29, 2013) - Carbon Sciences Inc. (OTCBB: CABN), provider of a complete solution for transforming abundant and affordable natural gas into clean burning gasoline and other transportation fuels, today announced that it has entered into a technical services agreement with Fluor Enterprises, Inc., a division of Fluor Corporation ("Fluor"). Under the terms of the agreement, Fluor will perform consulting engineering services for the development of Carbon Sciences' proposed miniGTL ("gas-to-liquids") plant.
"We are pleased to announce that Fluor will act as a consultant to our company," said Byron Elton, CEO of Carbon Sciences. "Fluor is one on the world's leading engineering services firms and has a very strong presence in the energy industry. Their extensive experience in natural gas to liquids facilities will be especially helpful in the development of our miniGTL project."
Carbon Sciences previously announced its plan to build a miniGTL plant, designed in a modular nature, which will allow the matching of the equipment to the quantity of natural gas, as well as allow for portability if gas flow declines over time. The company estimates that a miniGTL plant producing approximately 1,000 barrels per day of transportation fuel can be contained in as few as 60 modules. A modular design enables rail car or truck transportation and installation to remote sites with limited infrastructure. Modular construction additionally will allow the company to manufacture in low cost production centers and then transport the modules to the gas field, resulting in a substantial cost savings over on-site construction.
Unlike large scale GTL plants, such as those developed by Royal Dutch Shell and Sasol that require large gas fields, a miniGTL plant in the 1,000 to 2,000 barrel per day range can be built to monetize small to medium size fields, which account for nearly 40% of gas fields in the world.
About Fluor Corporation
For more than 100 years, Fluor Corporation has partnered with its clients to design, build and maintain many of the world's most challenging and complex capital projects. Through its global network of offices on six continents, Fluor's 43,000 employees provide comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, fabrication, operations, maintenance and project management. Today, the company serves a global client base in the energy, chemicals, government, industrial, infrastructure, operations & maintenance, manufacturing & life sciences, mining, power and transportation sectors. Headquartered in Irving, Texas, Fluor ranks 124 on the FORTUNE 500 list and had revenue of $24.3 billion in 2011. For more information visit www.fluor.com.
About Carbon Sciences Inc.
Carbon Sciences offers a complete solution for transforming an abundant and affordable supply of natural gas into clean burning gasoline and other transportation fuels. While large producers, such as Shell and Sasol, have built and operate world scale gas-to-liquids (GTL) plants for large natural gas fields, our solution is engineered to cost effectively produce transportation fuels from the thousands of available small and medium size natural gas fields. Our first generation miniGTL solution integrates best of breed and proven technologies. We are also developing a proprietary technology to enable a second-generation GTL solution that will produce even cleaner gasoline by using captured CO2 or low value, high CO2 content natural gas as part of the process. Our technology can also be used to transform natural gas into other valuable, large volume products, such as hydrogen, methanol, ammonia, solvents and plastics. To learn more about Carbon Sciences, please visit www.CarbonSciences.com
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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.