GreatPoint Energy
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| Private | |
| Founded | 2005 |
| Founder | Andrew Perlman |
| Headquarters | Chicago, Illinois, U.S. |
| Products | Natural gas from coal |
| Website | www.greatpointenergy.com |
GreatPoint Energy, Inc. is a Chicago, Illinois based energy company that produces natural gas from coal, petroleum coke, and biomass utilizing catalytic hydromethanation. GreatPoint Energy was founded in 2005 by serial entrepreneur Andrew Perlman and his business partners. The company has raised $150 million in venture capital from Dow, AES Corporation, Suncor Energy Inc., Peabody Energy, Advanced Technology Ventures (ATV), Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Khosla Ventures and Citi Capital Advisors (CCA).
In May, 2012 GreatPoint Energy and China Wanxiang Holdings closed a $1.25 billion investment and partnership agreement to finance and construct the first phase of a one trillion cubic feet per year coal to natural gas production facility in China. The deal between GreatPoint Energy and Wanxiang was the largest US venture capital investment in 2012.
GreatPoint Energy utilizes a sulfur-tolerant catalyst that enables gasification at the low temperatures where water gas shift and methanation reactions concurrently take place. The catalyst, which is continuously recycled and reused within the reactor, reduces the gasifier operating temperature. Under these lower-temperature conditions pipeline grade methane is produced. As part of the overall process, the technology enables the recovery of contaminants in coal, petroleum coke and biomass as useful byproducts and nearly all of the CO2 produced in the process is captured as a pure stream suitable for sequestration or enhanced oil recovery.
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