- Talon Energy (TPD) purchases the licensing rights for an emissions reduction technology, Superheated Steam Technology Process
- The company has entered a shareholder agreement with Applied Vapor Solutions (AVS) for a 60 per cent interest in Greenflame Energy
- Greenflame holds the exclusive patent licence for the technology process and entered with Strike Energy (STX) for the purchase of Strike’s 67 per cent participation interest in PEL96
- PEL96 will be used to trial the technology and for the potential for zero emissions electricity generation
- Talon is down 4.55 per cent and is trading at 1.1 cents per share at 1:23 pm AEST
Talon Energy (TPD) has purchased the licensing rights for an emissions reduction technology.
The company has entered a shareholder agreement with Applied Vapor Solutions (AVS) for a 60 per cent interest in Greenflame Energy.
Greenflame holds an exclusive patent licence for the application of a zero carbon dioxide (CO2) emissions Superheated Steam Technology Process.
The technology enhances recovery of hydrocarbons (methane) from coal seams while sequestering CO2.
Interestingly, the Superheated Steam Technology can increase coal rank on contact by pyrolysis.
“It essentially does in seconds what takes nature and the Earth’s geological coalification processes millions of years to do,” the company said.
Additionally, Greenflame also entered into a conditional agreement with Strike Energy (STX) for the purchase of Strike’s 67 per cent participation interest in PEL96, located in the Cooper Basin in South Australia.
PEL96 has been identified as the trial for both CO2 sequestration and enhanced coal seam gas production, as well as having the potential for zero emissions electricity generation.
Talon’s Managing Director David Casey said the transaction with AVS and GreenFlame was an important step for Talon.
“Increasingly, our industry is seeing the requirement from governments, regulators and investors to demonstrate the ability to work towards a low emission energy future,” Mr Casey said.
“Talon is cognisant of these requirements and takes its position as a player in the energy transition seriously.”
Talon was down 4.55 per cent and was trading at 1.1 cents per share at 1:23 pm AEST.