Coal-to-gas development deal signed

Peabody Energy (NYSE: BTU) and GreatPoint Energy signed an agreement to develop coal-to-gas and coal-to-hydrogen projects in the U.S. and around the world with carbon capture and storage technology.

The projects would use GreatPoint’s Bluegas technology, which uses catalytic hydromethanation to create hydrogen and substitute natural gas. The hydrogen will be used for industrial applications or combusted to generate near-zero carbon electricity. The SNG can be transported in the existing pipeline infrastructure and used as fuel in home heating, power plants or industrial processes.

The technology captures the carbon dioxide (CO2), which can be used for domestic oil production through enhanced oil recovery.

GreatPoint on Feb. 20 signed a $1.25 billion deal to build a coal-to-gas plant in China.

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