Praxair and utility working on improving CO2 capture

AES Eastern Energy, a subsidiary of The AES Corporation (NYSE: AES), and Praxair (NYSE: PX) are planning to research and demonstrate improved carbon dioxide (CO2) capture technologies for new and existing electric generation facilities in New York State.

The two companies say they plan to focus on creating capture-ready technology designs for new generation plants, and low-cost retrofit options for existing generation facilities, including oxyfuel combustion of coal.

“Since 1999, AES has invested over $100 million in environmental control technologies at our facilities in New York. In addition to benefiting the environment, low cost CO2 technology will help promote long-term economic development and energy sector stability in New York by supporting the use of coal—a low cost, reliable fuel alternative,” said Pete Norgeot, President of AES Eastern Energy.

AES Eastern Energy and Praxair intend to explore, research, design, and potentially commercialize the CO2 emission reduction technology. The two companies say the effort furthers New York State’s involvement in the development of state-of-the-art CO2 reduction technology and will help the state meet its goals for creating fuel diversity and low cost, reliable energy solutions.

“We believe that the market will demand a cost effective, reliable CO2 capture solution, which is why Praxair supports AES’s clean coal proposal. We believe that competition among oxy-fuel combustion, pre-combustion and post combustion carbon capture technologies will result in the best outcome for the environment, the energy sector, the economy and the consumer,” said Dante Bonaquist, Chief Scientist, Praxair Research and Development. 

AES is one of the world's largest global power companies, with 2005 revenues of $11 billion. With operations in 26 countries on five continents, AES's generation and distribution facilities have the capacity to serve 100 million people worldwide. Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2005 sales of $7.7 billion.

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