DKRW Advanced Fuels
DKRW Advanced Fuels is a company which aims to develop coal-to-liquid fuel projects. One of its major shareholders is Arch Coal.
DKRW Advanced Fuels is the parent company of Medicine Bow Fuel & Power, which proposes to build the Medicine Bow Plant, a coal-to-liquids project in Carbon County, Wyoming, USA. In a media release the company states that "the project will use Carbon Basin coal via intermediate methanol to produce gasoline that meets critical energy needs in an environmentally responsible manner."[1]
DKRW Advanced Fuels is a subsidiary of DKRW Energy, which in addition to synthetic fuels develops wind power and liquified natural gas projects.[2]. In 2006, Arch Coal, Inc. acquired a 25% equity interest in DKRW Advanced Fuels. In exchange, Arch agreed to extend its existing option agreement with DKRW Advanced Fuels, to work with DKRW Advanced Fuels to secure coal reserves for two additional coal-to-liquids projects outside of the Carbon Basin, and to invest $25 million in the company.[3]
An Arch Coal press release stated:[4]
- "As part of the transaction, Arch and DKRW Advanced Fuels completed an extension of the existing option agreement on approximately 180 million tons of Carbon Basin coal reserves relating to the Medicine Bow coal-to-liquids project, and entered into a new agreement whereby Arch and DKRW Advanced Fuels will explore potential reserves and project opportunities of similar size to Medicine Bow in two other coal basins."
In the wake of the late 2008 financial market meltdown DKRW Energy's chairman, Bob Kelly, told Reuters that "things have tightened up" and that companies proposing coal-to-liquids projects would have to go back to the drawing boards. In the wake of the banking industry collapse and dramatic drop in share prices, the oil price dropped from over $145 a barrel to $75 a barrel. "Everybody's got to evaluate their positions ... We have to wait to see how the capital markets evolve," Kelly said.[5]
In January 2016 it was reported that the plan remained stalled, as low oil prices made the project financially unachievable. DKRW official William Gathmann said the company is not abandoning the plan, but said it is unlikely the company will meet the Wyoming Industrial Siting Council's June 18, 2016 deadline to submit a construction schedule. The council's permit will expire if the company does not meet the deadline.[6]
Personnel
- Robert C. Kelly, Chairman
- Jon C. Doyle, Chief Executive Officer
Contact Details
Two Riverway, Suite 1780
Houston, Texas 77056 USA
Phone: 713-425-6520
Fax: 713-355-3201
Email: mjimenez AT dkrwenergy.com
Website: http://www.dkrwadvancedfuels.com
Articles and Resources
Related GEM.wiki articles
References
- ↑ "Medicine Bow Fuel & Power LLC selects Davy Process Technology and Johnson: Matthey Catalysts to supply Methanol Technology for a 6260 short ton per day Plant in Wyoming", Media Release, January 10, 2008.
- ↑ DKRW Energy corporate website, accessed October 2008
- ↑ "Arch Coal Acquires Interest in DKRW Advanced Fuels," press release, 8/24/06
- ↑ "Arch Coal Acquires Interest in DKRW Advanced Fuels," press release, 8/24/06
- ↑ Bruce Nichols, "Fuel Your Car With Coal? Less Likely Now", Reuters, October 17, 2008.
- ↑ "DKRW Advanced Fuels' plan for a southern Wyoming plant that would turn coal into gasoline and other liquid fuels in southern remains stalled," ASSOCIATED PRESS, January 07, 2016
External Links
- Bruce Nichols, "Fuel Your Car With Coal? Less Likely Now", Reuters, October 17, 2008.
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