From the 2020 investor presentation, the pilot aims to:
-Produce long-chain hydrocarbons that are suitable for processing within existing oil refineries without modification
-Verify the liquefaction of the coal produces predominantly liquids and minor amounts of gas and determine the composition of each product stream
-Compare UCTL liquids / gas ratio to that produced under ideal conditions whereby 95% liquids and 5% gas can occur
-Verify and achievement of low percentage of CO2 emissions as a result of liquefaction at low temperatures (3000 C) as compared to Underground Coal Gasification (UCG) that occurs at +10000C which generates a higher proportion of CO2 in the gas produced
-To verify the distance that WSP can travel from the nozzle/s inside the coal chamber and maintain its supercritical properties to create liquid hydrocarbons and gas
The last point is the one that I am most worried about, as that could result in the technology being a complete failure. The second thing I would be worried about is that the liquefaction process results in hydrocarbons which can't easily be refined or turned into something useable.
I think those are the major risks as opposed to costs or conversion rates.
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