CarbonScape looks to crowdfunding platform for expansionFriday 7 Nov 2014
The offer, which has just gone live on the Snowball Effect platform, will be open for 45 days, or until it reaches its cap. CarbonScape is seeking a target of NZ$400,000, and has a cap of NZ$1.5 million. The company already has an agreement to supply its clean coking coal to the New Zealand Steel mill at Glenbrook, and says that this aspect of its technology alone has the potential to cut global greenhouse gas emissions by up to 3 per cent if implemented worldwide. CarbonScape’s patented technology can also be used to make a whole host of clean-tech products, from activated carbon (used for purifying food, air and water) to chemicals and syngas. The company uses microwave technology to turn the carbon in waste wood, such as that from the forestry industry, into carbon products in just minutes – products that it takes nature millions of years to create. Using microwave technology is the brainchild of Chris Turney. As a teenager, he cooked a potato in a microwave oven for too long. The microwave oven was ruined, but what was really interesting was what happened to the potato. He shared, ”It was black. It was pure carbon.” Twenty years later, as a distinguished earth scientist, Professor Turney remembered that potato when he was trying to find a way to replicate the carbon cycle. That technology has been refined and developed in CarbonScape’s Marlborough laboratory to the point where the company can now make high-quality coking coal (the type essential to the steel-making process) in minutes. This product, named Green Coke, is so important to emissions reduction that New Zealand Steel (which is owned by BlueScope Steel of Australia) has signed a supply agreement with CarbonScape, and has also signed a Memorandum of Understanding with the company, providing technical support to take Green Coke to production scale. The first production plant will be built near the New Zealand Steel site at Glenbrook, south of Auckland. More >>.  | ||
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