nano patents and innovations

NANO PATENTS AND INNOVATIONS
NANO PATENTS AND INNOVATIONS IS DEDICATED TO NANOTECHNOLOGY NEWS, PATENTS, MARKETS, PRODUCTS AND RESEARCH INNOVATIONS

THURSDAY, FEBRUARY 4, 2010

Eden Energy and Indian Oil Corporation Reach Agreement to Produce Carbon Nanotubes and Hydrogen Using University of Queensland Pyrolysis Technology


Eden Energy Limited (EDE) (Perth Australia) announced on February 5th that it has reached a deal with Indian Oil Corporation Limited (IOCL) to produce hydrogen and ultra-strong solid carbon fibres and nanotubes from methane gas. The two executed a non-binding terms sheet with IOCL through which the two companies would enter into a farm-in agreement to scale up a new Pyrolysis technology jointly developed by Eden and the University of Queensland (UQ).

Eden Energy said if successfully piloted on a commercial scale, the process could have important implications for the widespread commercialization of the ultra-strong forms of carbon that can be used in composite materials for the construction, electronics, aerospace and vehicle building industries. The company has reached a preliminary in-principle agreement with the UQ for Eden to purchase from UQ its 50% interest in the patents and intellectual property developed by the project.




After extensive negotiations, Eden has secured agreement with Indian Oil Corporation Limited (IOCL) on the terms of a detailed non-binding terms sheet for IOCL to farm-in to the new pyrolysis technology developed jointly by Eden and the University of Queensland with support from the Australian Research Council.

Through this technology, methane (natural gas) is broken down into its atomic constituents of hydrogen gas and solid carbon, without the production of carbon dioxide, to produce carbon fibres and nanotubes that exhibit tensile strengths up to several hundred times greater than that of steel. If successfully piloted on a commercial scale, the process could have important implications for the widespread commercialization of these ultra-strong forms of carbon that can be used in composite materials for the construction, electronics, aerospace and vehicle building industries.

The New Pyrolysis Technology
Unlike most hydrogen production technologies, the new Pyrolysis technology developed by Eden and the University of Queensland has the very significant advantage of not producing carbon dioxide as an unwanted by-product. Instead, this technology produces only hydrogen and solid carbon powder (commonly known as Carbon Black), together with, under certain conditions, carbon fibres and multi-walled and single-walled carbon nanotubes

Carbon fibres and carbon nanotubes have enormous tensile strength, as well as being exceptional conductors of electricity, and are currently used in super-strong, ultra-light carbon composite materials that are deployed extensively in the production of the latest fuel efficient airliners (Airbus A380 and Boeing 787) and in Formula 1 racing cars. However, current production methods are expensive, which has thus far limited the widespread commercial use of these materials.

The new pyrolysis process, if successfully scaled up from the existing laboratory scale to commercial production, could open up large commercial markets for these high value carbon composite materials in the structural materials markets, where they could potentially displace both steel and aluminium in many applications. Additionally, the potential Greenhouse Gas savings that would be likely to result from the widespread use of carbon composite materials in substitution for steel and aluminium could be very significant.

Preliminary Agreement to Purchase UQs Interest and Details of Terms Sheet
Eden has reached a preliminary in-principle agreement with the University of Queensland (UQ) for Eden to purchase from UQ, in consideration of the issue to UQ of 3,750,000 fully paid ordinary shares in Eden, its 50% interest in the patents and intellectual property developed by this project.

This acquisition will enable Eden to satisfy the provisions of the Terms Sheet with IOCL, which require Eden to transfer to IOCL a 50% interest in the new technology upon IOCL firstly funding the up-scaling of the technology by approximately 18 times, to a bench scale size of 120 litres of methane per hour, and then a further thousand-fold up-scaling to a pilot plant capable of processing 120 NM3/hour of methane, which would be enough methane to run between 15-20 natural gas fuelled buses on a continuous basis The total cost of these two phases has been estimated at approximately A$2.6- 3.6 million.

The Terms Sheet with IOCL contains a number of conditions precedent, including IOCL being satisfied with both a demonstration of the technology at UQ, and with Edens and UQs right to ownership of the intellectual property, and their right to commercialize it.

It is hoped that the acquisition by Eden of the UQ interest will be completed and the conditions precedent to the Terms Sheet will be satisfied over the next 2-3 months and that a formal binding Farm-in Agreement with IOCL will then be executed, pursuant to which the up-scaling process will begin. It is estimated that this up-scaling process would take between 18-24 months to complete.

Eden Energy Limited (Eden) is an Australia-based company. The company is engaged in providing access to range of green energy opportunities. Eden holds interests in hydrogen fuels, coal bed/coal mine methane, a conventional gas play, and geothermal (deep heat mining) energy. The company operates in Australia, United States of America, Europe and India.

The companys subsidiaries include Eden Innovations Limited, Eden Energy (UK) Limited, Eden Energy (India) Pvt Ltd, Terratherma Ltd, Brehon Australasia Pty Ltd and Eden Cryogenics LLC. In October 2008, the company disposed Eden Hydrogen, Cryogenic Technical Services and Eden Cryogenics. During the fiscal year ended June 30, 2009, the Company wound up Brehon Far East Pte Ltd, Brehon Australasia Pty Ltd and Hydrogen China BVI Ltd.
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old news i know but

Could be formally binding by April-May, bring it on!

................Flaming :)