Press Release Source: Silverado Green Fuel Inc.
China Joint Venture Opportunities Explored by Silverado Green Fuel Inc.
VANCOUVER, Nov. 14 /PRNewswire-FirstCall/ - Silverado Green Fuel Inc. (Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL, BERLIN - SLGL) : - Silverado Green Fuel Inc., the world leader in low rank coal-to-liquid fuel technology, will contribute towards America's energy self - sufficiency, security and domestic energy supply. Low rank coal-to-liquid fuel has attained a high priority status with the U.S. government, and Silverado's $ 26 million Demonstration Plant Joint Venture with the State of Mississippi is expected to be on-stream as planned. In the United States, low rank coal represents centuries of domestic energy resources, and is currently a highly under-utilized resource.
Silverado has announced a $140,000 grant for further refining low rank coal to liquid fuel technology, and has also recently launched an awareness - building video explaining its technology process :-
In responding to preliminary interest received from several major China energy corporations, Silverado Green Fuel Inc. is creating a "Silverado Asian Business Development Team". This team will have the specific mandate to explore opportunities relating to potential Asian joint ventures, strategic partnerships, and investment, and the possible creation of Silverado Green Fuel production facilities in China.
Silverado Green Fuel Inc. is in discussions, and close to an agreement, to engage an experienced North America - China business facilitation group to spearhead its Asian business interests, and report back to the Board regularly with the results of its discussions and exploratory meetings with identified major and multinational China - based corporations.
China is the world's largest coal producer and consumer. In 2005, the country's output reached 2.1 billion tons, representing 40% of the world's total production. China has increased its coal production in the last 10 years by 959 million tons, almost equivalent to the world's collective growth.
Coal represents 90% of China's primary energy deposits. Experts predict that coal will represent 50% to 70% of China's primary energy consumption in the coming 30-50 years. China's total coal reserve is more than 1,000 billion tons. Over a four year period, ending in 2002, domestic and foreign investment worth 5.7 billion RMB ($ 769 million U.S.) was injected into the coal sector.
With increased domestic and foreign investment materializing in China's energy sector, economic growth outpacing virtually all global trends, an insatiable appetite for energy, and the need to deal with the country's serious environmental issues, China's major coal, oil and energy companies, are turning towards global technologies to help meet China's needs.
Silverado Green Fuel can respond to enhancing China's domestic energy output, utilize China's abundant coal reserves, and produce fuel without releasing any greenhouse gases, heavy metals or toxic substances into the atmosphere.
Silverado Green Fuel is produced using low rank coal as its resource material. The Silverado technology creates Green Fuel without releasing any harmful emissions into the air, and because low rank coal already has a moisture content of 40%, most of the water used in Silverado's Green Fuel Technology is actually recycled from the process itself, and re-used. Initial production costs are estimated at under US$15 per barrel, on an oil equivalent energy basis, compared to $90 - $100/barrel crude oil.
Green Fuel can be used to power oil-fired power plants directly, or be used as a feedstock for further processing to produce transportation fuels (jet, diesel, gasoline), key agricultural compounds (fertilizers, synthetic petrochemical feedstocks, ammonia), industrial products (oils, lubricants, synthetics) and even consumer products (plastics, packaging, etc.). Silverado Green Fuel can also be further processed to produce pure, clean hydrogen to power fuel cell automobiles and power plants.
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