Greyrock’s small GTL systems provide a solution to the flaring of associated natural gas. The Global Gas Flaring Reduction Partnership, a World Bank initiative, notes that billions of cubic meters of natural gas are flared annually at oil production sites, wasting valuable energy resources and contributing to climate change by releasing millions of tons of CO2 into the atmosphere.
Commenting on the investment Andrew Hinkly, Managing Partner AP Ventures said, “I’m delighted with the progress made to commercialize the Greyrock technology since our original investment in Greyrock. The number of opportunities to develop new commercial projects using Greyrock Technology is rapidly expanding with four projects in various stages of construction and start-up. This additional investment supports Greyrock’s continued growth and development at an exciting time for the company and the industry.”
“AP Ventures ongoing investment represents their confidence in Greyrock’s proprietary technology,” said Robert Schuetzle, CEO of Greyrock, “We are working together to advance Greyrock’s core business while providing solutions to address the significant problem of flared natural gas throughout the world.”
Greyrock high value fuels are cleaner burning than similar petroleum derived fuels and when blended with traditional fuels can improve vehicular emissions profile without any corresponding change in existing infrastructure. Additionally, Greyrock’s systems may be deployed in remote oil fields and may be configured to produce high-purity hydrogen as a by-product. This alternative source for hydrogen is a valuable tool to address the growing demand from fuel-cell electric vehicles and offers strong synergies with AP Ventures’ other portfolio companies which span the hydrogen value chain.
About AP Ventures
AP Ventures is a venture capital firm headquartered in London. The Fund is dedicated to investing in advanced technology companies utilising the unique high-performance characteristics of Platinum Group Metals (PGMs). The Fund operates a global mandate to invest in pioneering new technologies and businesses which solve global challenges such as renewable energy integration, resource scarcity and a growing population. This includes: hydrogen infrastructure; fuel-cell electric mobility; energy storage platforms; water treatment solutions; sensors; durable electronics; and biomedical devices.
The existing Fund I portfolio includes investments in Altergy Systems, Food Freshness Technology Holdings, Greyrock Energy, High-Yield Energy Technologies, Hydrogenious Technologies and United Hydrogen Group.
Greyrock has developed its state of the art Direct Fuel Production™ technology, enabling production of clean liquid fuels from a variety of gas resources, including flare gas, bio-gas, natural gas, and natural gas liquids. Greyrock systems enables its customers to solve key environmental and energy challenges. For more information, please visit http://www.greyrock.com. http://www.FlaretoFuels.com