|By PR Newswire||
|November 21, 2012 05:00 AM EST||
DURHAM, North Carolina, Nov. 21, 2012 /PRNewswire/ -- NET Power today announced the receipt of a £4.9 million grant from the UK Department of Energy and Climate Change as part of the Carbon Capture and Sequestration (CCS) Innovation Program £20 Million Competition. The grant will fund further R&D and manufacturing of both developing and proven high-performance materials that enable NET Power's novel, clean, low-cost power generation technology to reach extremely high efficiencies.
NET Power, Toshiba Corporation (TOKYO: 6502), a world-class technology manufacturer, Goodwin Steel Castings (LSE: GDWN), a global expert in metallurgy and castings based in the UK, and The Shaw Group (NYSE: SHAW), a leading engineering, procurement and construction firm, will utilize these advanced materials in NET Power's 25MW natural gas demonstration plant.
"Through this competition and the CCS Commercialisation Programme, The Department of Energy and Climate Change is focused on making CCS more affordable, and they recognize NET Power's potential as a breakthrough technology," said NET Power CEO Bill Brown. "Our step-out process leaps over current CCS technologies by producing electricity that generates zero atmospheric emissions and is less expensive than cheap, carbon-emitting technologies. We are excited to work with the UK government to commercialize this important technology."
NET Power's new fossil fuel-based power technology is low-cost and highly efficient – on par with state-of-the-art natural gas combined cycle plants. In addition to generating electricity at strongly competitive costs, though, NET Power also eliminates all atmospheric emissions, including CO2. To do this, NET Power utilizes a novel, oxyfuel, high-pressure, supercritical carbon dioxide thermodynamic cycle—named the Allam Cycle after lead inventor Rodney Allam of Chippenham, England. Mr. Allam was previously the Director of Technology Development at Air Products and Chemicals PLC. He was a lead author for the IPCC report on carbon capture and storage and received the 2012 Global Energy Prize.
NET Power is different from typical carbon capture technologies, which require the addition of new processes and equipment to current power systems. Rather than use this approach, which results in increased costs and reduced efficiency, NET Power developed a new power generation technology that was designed from the ground up to eliminate air emissions. The resulting system produces low-cost electricity and a pipeline-ready CO2 byproduct that can be sequestrated or used in enhanced oil recovery without requiring additional expenses and processes.
"This announcement helps maintain the UK's place leading the world in CCS, to deliver an affordable and secure low carbon energy mix," said Energy and Climate Change Secretary Edward Davey. "Carbon Capture and Storage is a huge opportunity for our world class research industry. The UK's clear commitment to CCS is underlined by innovative companies like NET Power and Toshiba's choosing British manufacturer Goodwin for its world leading expertise."
Under the terms of the grant, Goodwin and Toshiba will further develop and manufacture advanced materials to be used in the turbine that Toshiba is developing for the NET Power process. These materials will lead to improved NET Power cycle performance. The DECC grant will directly create high-value R&D and manufacturing jobs in the UK, and it will solidify Goodwin's position as a global leader in advanced materials manufacturing. NET Power and Shaw will support overall project engineering and integration of the materials into the NET Power cycle. NET Power's UK-based subsidiary, NET Power Europe, will administer the grant and conduct other R&D in the UK.
NET Power's Allam Cycle is a flexible platform technology that spans natural gas, coal, solar, nuclear, enhanced oil recovery and liquefied natural gas applications, each of which will directly address rising electricity costs while enabling aggressive emissions reduction targets to be met. DECC's grant supports NET Power to lay the foundation for a coal development program that will result in lower-cost coal-fired power generation that eliminates all atmospheric emissions of CO2, SOX, NOX and particulates.
NET Power, Shaw, Toshiba, and Exelon Corporation (NYSE: EXC), the leading U.S. competitive energy provider, have partnered to develop a 25MW natural gas plant demonstrating NET Power's technology; the plant is expected to begin operating in late 2014. Construction of the first 250MW NET Power plant is expected to begin in early 2015. In June 2012, Shaw committed up to $50.4 million in cash and in-kind services to the effort, subject to certain milestones, acquiring up to 50% of NET Power LLC as those milestones are completed.
NET Power LLC is a Durham, N.C.-based company affiliated with 8 Rivers Capital LLC, the inventor and early developer of the NET Power technology. For more information, please visit NET Power's website at www.NETPower.com.
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 29, 2016 10:30 PM EDT Reads: 4,013
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Sep. 29, 2016 10:00 PM EDT Reads: 1,804
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 29, 2016 08:45 PM EDT Reads: 2,209
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Sep. 29, 2016 08:45 PM EDT Reads: 1,546
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 29, 2016 06:15 PM EDT Reads: 3,684
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 29, 2016 05:15 PM EDT Reads: 2,855
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 29, 2016 04:45 PM EDT Reads: 3,445
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Sep. 29, 2016 04:45 PM EDT Reads: 2,794
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 29, 2016 04:30 PM EDT Reads: 1,343
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Sep. 29, 2016 04:00 PM EDT Reads: 482
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 29, 2016 04:00 PM EDT Reads: 2,401
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 29, 2016 03:30 PM EDT Reads: 1,629
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 29, 2016 03:15 PM EDT Reads: 1,794
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 29, 2016 03:00 PM EDT Reads: 2,973
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Sep. 29, 2016 03:00 PM EDT Reads: 2,833
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 29, 2016 02:00 PM EDT Reads: 4,206
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 29, 2016 02:00 PM EDT Reads: 3,958
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
Sep. 29, 2016 02:00 PM EDT Reads: 1,184
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 29, 2016 02:00 PM EDT Reads: 3,627
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 29, 2016 01:45 PM EDT Reads: 1,130