17th Dec 2009 12:00
NON-REGULATORY PRESS RELEASE
17 December 2009
Altona Energy Plc ('Altona' or 'the Company')
Re Rentech Announcement
Altona Energy Plc, the AIM listed Australian based energy company, notes the Memorandum of Understanding announced on 15 December 2009 between U.S.-based clean energy company Rentech, Inc ('Rentech') and 13 U.S. domestic and international passenger and cargo carriers regarding the potential future supply for certified jet fuel from Rentech's proposed synthetic fuels and power facility in Adams County, Mississippi ('Natchez Project').
The Board of Altona believes that Rentech's Natchez Project, which is expected to be the U.S.' first large-scale synthetic fuels facility for environmentally superior alternative sources of domestic energy, highlights the significant advances being made in the industry and the prospective demand for the production of synthetic gas ('Syngas') and its derivative products. This underpins the potential of Altona's own coal-to-liquids project at Arckaringa in South Australia.
Altona recently signed an agreement with CNOOC New Energy Investment Ltd ('CNOOC-NEI'), a subsidiary of China National Offshore Oil Corporation (one of China's three largest state owned oil companies), to evaluate, with the view to developing and commercialising, its estimated 7.8 billion tonne coal resource (non-JORC standard) Arckaringa project. The agreement focuses on the development of this huge coal resource which is of a quality ideal for conversion to Syngas and high value fuels and chemical feedstocks, using existing commercial technologies, plus low-cost and low-emission power.
The technology developed by Rentech is based on the Fischer-Tropsch process, which is the same process that the Company plans to utilise with CNOOC-NEI. The alternative jet fuel produced using Rentech's technology and carbon capture and sequestration, has a lower carbon footprint as well as lower regulated emissions compared to traditional jet fuel. Production of similar synthetic fuel is only one of a multiple product pipeline that is being considered by Altona and CNOOC-NEI utilising the coal resources at Arckaringa.
For further information on Rentech (NYSE AMEX: RTK) visit www.rentechinc.com.
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For further information visit www.altonaenergy.com or please contact:
|
Christopher Lambert |
Altona Chairman |
Tel: +44 (0) 20 7024 8391 |
|
Christopher Schrape |
Altona Managing Director |
Tel: +44 (0) 20 7024 8391 |
|
Paul Youens |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
|
Hugo de Salis |
St Brides Media & Finance Ltd |
Tel: +44 (0) 20 7236 1177 |
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