Peter Bond: Energy Alchemy can help world realise clean fuel dreams
Last updated on 11 November 2013, 7:12 am
Advertising feature: Peter Bond outlines how Linc Energy can provide commercially viable and environmentally sustainable fuel
By Peter Bond
Alchemy is the age old secret of transforming the worthless into the priceless, an idea which surprisingly continues in today’s society.
Today, rather than searching for the elusive formula of turning lead into gold, entrepreneurs and organisations around the world have been pursuing the dream of Energy Alchemy, that is – discovering new ways to develop existing resources into a commercially viable and environmentally sustainable solution to the world’s ever increasing energy needs.
The main focus of Energy Alchemy to-date has been on identifying alternatives to our increasing reliance on traditional oil reserves. Oil powers economies. It is crucial in all aspects of world commerce and assured availability and secure delivery are ongoing issues.
With existing world oil reserves depleting, the race to find a commercially viable and environmentally sustainable alternative has never been more important.
The progress Linc Energy has made in the production of ultra clean fuels is simply the beginning of a new wave of energy solutions that will provide security of delivery, and also the confidence of long term availability that is set to totally revolutionise the way the world looks at new energy sources.
Underground Coal gasification (UCG) is at the cornerstone of our business. The economic benefits alone prove that it is a viable solution. These include:
-Delivering access to coal resources otherwise unviable (too thin, too deep or of poor quality)
-Proven high efficiency of extraction;
-Lower costs compared to conventional mining methods for deeper seams, including the removal of risks and costs associated with underground labour;
-Improved cost efficiencies over surface gasification, with no need to purchase a surface plant; and
-Producing a highly versatile product (syngas), which can be used for power generation, synthetic natural gas or liquid fuel generation, or as a chemical feedstock.
The UCG concept is over 100 years old and has proven to be a well understood, controllable, environmentally robust and reproducible process. Our focus at Linc Energy is on using this technology to create value from existing resources with today’s environmental consciousness in mind.
Through a combination of UCG and Gas to Liquids (GTL) technology, we have the ability to realise the huge energy potential of deep, stranded underground coal deposits by converting them into ultra-clean diesel fuel.
And importantly, when compared to more traditional methods, our process delivers a lower CO2 footprint, zero sulphur emissions and generates higher energy extraction.
Combining UCG and GTL to produce clean fuels is now a proven, commercially viable alternative and Linc Energy has proven its technologies can help deliver countries around the world energy independence without impacting the environment.
With gas, power and fuel prices on the rise, Linc Energy’s technology offers countries a versatile product to aid in the solution of various energy needs. Most recently we have entered into arrangements with LLC YakutMinerals, an affiliate of Ervington Investments Limited, to explore the vast opportunities of UCG in North-Eastern Russia. In South Africa we hope to utilise synthesis gas (syngas) for power generation and GTL. Furthermore, with potentially billions of tonnes of stranded coal, Linc Energy is exploring opportunities to utilise its UCG technology to deliver affordable and sustainable energy security in Poland.
These recent opportunities in Southern Africa, Russia and indeed Poland, demonstrate the growing demand for alternative indigenous energy solutions around the globe. Linc Energy is committed to realising the value of available resources to produce more sustainable energy solutions to fuel nations and economies well into the future. Our goal is to empower nations to be energy self-sufficient.
We need to educate governments that indeed UCG to GTL technology are one of the pathways to the global energy needs and part of how we can make an environmentally sustainable contribution to future jobs and industry.
The growing global demand for energy offers the opportunity for our experience and expertise to be in increasing demand. UCG technology is very quickly becoming the exciting commercial opportunity for Linc Energy we always knew it would be.
About the Author
Peter Bond is Chief Executive Officer and Managing Director of Linc Energy Ltd. He began his career in mining more than 30 years ago, after training as a metallurgist at BHP. By the age of 23, his entrepreneurial spirit was evident as he personally raked and hand cleaned more than 1,000 tonnes of coal, which he sold to a brick company for a substantial profit. After years in the coal industry, Mr Bond went on to own his own coal company. Since then he has gone on to take underperforming companies and transform them into valuable assets, in Australia and overseas. In just three years, from late 2004, Mr Bond transformed Linc Energy from a small start-up into a successful IPO on the Australian Securities Exchange (ASX.) Linc Energy has become a ~AU$950 million company. Mr Bond is also a member of the BRW Australian Rich List and is highly regarded for his philanthropy.