Copenhagen’s Steeper Energy Aps awarded 6,900,000 DKK grant from the Danish Department of Energy (EUDP)

Copenhagen Denmark – November 1, 2011 – Steeper Energy Aps, a Danish-Canadian clean-fuel company, has been awarded a DKK 6.9 million grant from the Danish Department of Energy (EUDP). The grant provides support to Steeper Energy from March 2012 to December 2014 in support of the commercialization of Hydrofaction™. The Energy Technology Development and Demonstration Program (EUDP) is a public grant scheme. The scheme supports new technology in the energy field, which can help meet Denmark’s energy and climate goals.

The Hydrofaction™ technology is a next generation hydrothermal technology that can convert low value organic feedstocks into a syncrude with high heating value (35-39 MJ/kg), which can be used directly in power plants, large compression (diesel) engines or be further refined to transportation fuels, potentially substituting vast amounts of fossil oil on a global scale. Syncrude produced from renewable input stream will result in a net CO2 saving of 450,000 tonnes per year in a 1MTPA (1 million tonnes per annum) scale or 80-90% on an energy basis.

Current economic estimates in scale indicate syncrude production costs in the range 50-60 $/bbl making it competitive with oil production from tar sands. Hydrofaction™ will be very attractive as a contribution to future energy systems dealing with high energy process, energy security and economical stability.

The project aims to establish key data and operating protocols for specific input streams and eliminate risks associated with market entry by performing an engineering and economic assessment study of a 300 barrels per day commercial demonstration plant.

Additional information on the project is available on the EUDP website at https://energiforskning.dk/node/6888.