RES Kaidi Advances in $20M NRG COSIA Carbon XPRIZE
Local Team Reimagines What Can Be Done with CO2 Waste
Denver (October 25, 2016) – RES Kaidi, a Technology and Engineering Services company focused on alternative fuels, chemicals and power, today announced that it has been named as one of the 27 teams advancing in the $20M NRG COSIA Carbon XPRIZE, a global competition to develop breakthrough technologies that convert the most carbon dioxide emissions from natural gas and power plant facilities into products with the highest net value. RES Kaidi, headquartered in Westminster, Colorado, currently with 12 team members, has made it to the second round of competition by proposing to convert CO2 waste emitted from a natural gas power plant into Dimethyl ether (DME) for use as a fuel in heavy duty motor vehicles and LPG burners or as a chemical feedstock.
RES Kaidi is comprised of engineers, chemists and business developers and was formed in 2014 to develop and deploy renewable energy and biofuels technologies worldwide. For the Carbon XPRIZE, RES Kaidi has partnered with the Colorado School of Mines, located in Golden, Colorado, to assist in further development of RES Kaidi’s proprietary technologies, for the purpose of the competition.
Launched in September 2015, the Carbon XPRIZE competition addresses global CO2 emissions by incentivizing innovative solutions to convert CO2 from a liability into an asset. Co‐sponsored by NRG and COSIA, the four‐and‐a‐half‐year competition is designed to address CO2 emissions from fossil fuels, a leading contributor to climate change. Semi‐finalist teams hail from Canada, China, India, Switzerland, Scotland and the United States, and among the teams competing are leading carbon capture technology companies, top‐tier academic institutions, non‐profits and new startups. The advancing teams propose converting CO2 into products as varied as enhanced concrete, biofuels, toothpaste, nanotubes, fish food and fertilizer.
“Our team has substantial experience in catalytic reforming and fuel synthesis, and we believe that our novel approach which uses our clean, cheap and abundant natural gas resource, as well as carbon dioxide, to produce dimethyl ether (DME), a clean burning fuel or chemical feedstock, if implemented on an industrial scale, would allow for significant decarbonization of transportation fuels and the chemical industry, without the requirement for significant infrastructure changes.” said Harold Wright, President and Chief Executive Officer, RES Kaidi.
Teams selected to participate in Round 2 of the competition will demonstrate their innovative technology at pilot scale at a location of their own choosing, using either real flue gas or simulated flue gas stream. Over a ten‐month period, teams must meet minimum requirements and will be scored on how much CO2 they convert and the net value of their products. Following Round 2 judging scheduled for November and December 2017, up to five teams in each track that score the highest will share a $2.5 million milestone purse and move onto the finals of the competition, demonstrating their technology at real‐world power plants.
For more information about RES Kaidi, please visit www.reskaidi.com. High‐resolution images and other team visuals are available upon request.
For more information about the NRG COSIA Carbon XPRIZE, visit carbon.xprize.org.
About RES Kaidi
RES Kaidi is a renewable energy and biofuels technology and engineering services company headquartered in Westminster, Colorado. RES Kaidi was formed in 2014 when Sunshine Kaidi New Energy Group acquired the energy technology assets of Rentech, Inc.
About the NRG COSIA Carbon XPRIZE
Few challenges are greater and more critical than ensuring access to clean, affordable and abundant energy. As the global energy supply remains primarily derived from fossil fuels – the leading contributor to climate change – the $20M NRG COSIA Carbon XPRIZE will challenge the world to reimagine what we can do with CO2 emissions by incentivizing and accelerating the development of technologies that convert CO2 from a liability into valuable products. For more information, visit: carbon.xprize.org.
NRG is leading customer‐driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. More information is available at www.nrg.com.
COSIA (Canada’s Oil Sands Innovation Alliance) is an alliance of 13 oil sands producers, representing 90 percent of production from the Canadian oil sands, focused on collaborative action and innovation in the areas of greenhouse gases, land, tailings and water. For more information, please visit www.cosia.ca.