might have been the reason for the holdup, Announcement Monday Maybe?
Date: October 28, 2016
Sydney Clean Energy Roundtable
ECT’s Executive Chairman Mr Glenn Fozard yesterday presented to India’s Federal Minister for Power, Coal, New & Renewable Energy and Mines the Hon. Shri Piyush Goyal.
Minister Goyal was in Australia to lead the ‘Clean Energy Roundtable’, a private business meeting with Australian Government and Industry leaders to discuss Australian clean energy solutions, and their opportunities in India.
Mr Fozard presented ECT’s Coldry and Matmor project, being pursued in partnership with NLC India and NMDC, along with our highly skilled engineering partners Thermax and M.N. Dastur.
The Coldry process, a low temperature, a low-pressure, cost-effective method for drying high moisture brown coal, can reduce its CO2 intensity in electricity in production and other higher value applications such as coal-to-gas and high-value chemicals.
The Matmor process, a unique iron-making method that replaces higher cost coking coal with lower cost lignite, utilises alternative, lower cost iron ore fines instead of premium lump ore via a lower cost plant capable of integrating with existing downstream secondary steel making processes. It features an alternative chemical pathway to achieve the reduction of metal oxides at lower temperatures and faster process times than traditional methods.
Combined, Coldry acts as a front-end material preparation stage for Matmor.
The presentation highlighted the economic and environmental benefits of the technologies. Mr. Fozard emphasised the superiority of the financial results generated by a commercial scale Coldry-Matmor-Electric Arc Furnace (C/M-EAF) integrated plant compared to a traditional Blast Furnace-Basic Oxygen Furnace (BF-BOF) technology combination, as detailed in the Techno-Economic Feasibility (TEF) Study, completed earlier this year.
A headline key performance indicator for any industrial project is its Internal Rate of Return (IRR). At more than 17% IRR, ECT’s solution can deliver a distinct advantage over the traditional Blast Furnace route.
ECT’s technology solution also helps achieve economic and environmental objectives, including increased raw material security through utilisation of domestic resources and improved environmental outcomes through lower CO2 emissions, among others.
Importantly, the presentation also spotlights the benefit of decoupling the project’s financial performance from the volatility associated with traditional iron making raw materials; coking coal and premium lump ore.
Following the presentation, the Minister provided some very direct and encouraging feedback, noting that the company’s technologies could help India reduce her reliance on imports by enabling the utilisation of domestic resources for steel market inputs.
The TEF study, released mid-year, used average pricing applicable through the period July 2015 to June 2016 which, being based on recent historic lows, was conservative. This conservatism, though prudent at this stage of development, downplayed the core competitive advantages of Matmor in its ability to utilise alternative raw materials.
With recent structural changes to the supply of coking coal, dramatic escalations in price have impacted the steel market significantly, with the most recent commodity reporting information showing a further escalation of coking coal prices to US$245 per tonne on the spot market, and 2017 futures holding between $US 170-210. Importantly, using the cost modelling developed as part of the TEF study, the BF/BOF technology has a zero IRR at coking coal prices above $US155 per tonne. Matmor, on the other hand, is insulated from such impacts.
Those impacts are outlined within the slide deck available for download below.
Mr Fozard stated “The Minister was again very supportive in his questions and comments, and expressed a desire for us to move more quickly. Indeed, he recommended we make direct contact with his office so that more support may be arranged to accelerate progress.”
Other presenters included:
- Origin Energy
- Aurizon
- Downer EDI
http://www.ectltd.com.au/ect-invited-to-present-to-indias-energy-minister/
Download (PDF): Presentation to Minister Goyal
Just some grabs below of presentation
Unique low rank
coal drying technology -
Coldry ˃ IP owned 100% by ECT and protected in all major markets ˃ World’s most efficient pre-drying process for high moisture content coals ˃ Enables low-rank coal use in downstream conversion process for high value products and applications ˃ Outstanding environmental credentials including a zero net CO2 footprint from the process ˃ Construction-ready designs for first commercial scale plant ready to go
Primary iron processing technology –
Matmor ˃ Intellectual property owned 100% by ECT ˃ Integrates with Coldry which acts as the feedstock preparation stage ˃ Reduces manufacturing costs through use of low cost, abundant [non-traditional] raw materials ˃ Reduces energy costs through innovative thermo-chemical pathway (impact embedded in manufacturing costs above) ˃ CO2 emission reduction help deliver lower emissions intensity
Objective:
˃ Development of an integrated Coldry demonstration + Matmor pilot facility in India ˃ Launchpad for global commercial rollout
Partners:
˃ NLC India Limited is the custodian of India’s lignite resources, and project host ˃ NMDC Limited is India’s largest Iron ore miner ˃ Both companies are PSUs ˃ Combined market capitalization in excess of A$10Bn
Location:
˃ Neyveli, Tamil Nadu ˃ ~2.8GW power station ˃ ~25m tpa mine output TEF Study: ˃ Completed in H1 2016 ˃ Led by MN Dastur ˃ Projected Commercial scale benefits to underpin R&D investment decisions
˃
Decision made! Move forward with the project
India Project Pathway
˃ Demonstrate as a platform for subsequent larger scale commercial roll out
˃ ‘Demonstration’ achieves:
˃ Capital defined
˃ O&M capability displayed
˃ Product quality, value and use validated
˃ Business model proven
ECT
˃ We commercialise innovative technologies to increase the economic and environmental benefits derived from low grade, low rank and waste resources
˃ India focus
˃ New technologies supporting sustainable development andNew technologies supporting sustainable development and self sufficiency
˃ ‘Make in India’ – Strong local engineering and project partners
˃ Commercialisation Strategy
˃ Broad global application following demonstration in India
Confidential Information
http://www.ectltd.com.au/ect-invited-to-present-to-indias-energy-minister/
