15 October 2014
ABOUT TOSHIBA CORPORATION POWER SYSTEMS
Details
NET Power’s system transforms
the future of both the electricity and
the oil and gas markets.
Using a novel supercritical CO2 power cycle known as
the Allam Cycle,
the technology will match or lower
the current cost of electricity from natural gas
—already one of the most affordable sources of electricity available
—while also inherently capturing all carbon dioxide and
other air emissions.
The cycle produces carbon dioxide
as a pipeline-quality byproduct, as opposed to
in conventional power plants, where CO2 is produced
as an exhaust-gas mixed with other pollutants and
emitted through a stack.
NET Power’s pipeline-ready CO2
can be sequestrated or used in enhanced oil recovery,
a decades-old process that uses carbon dioxide
to significantly increase production from mature oil wells
while permanently storing the CO2 underground.
In addition, NET Power plants can either significantly
reduce water usage compared to conventional plants,
or eliminate water usage entirely,
in each case with only a minor reduction in plant efficiency.
the developer of a new, emissions-free,
natural gas power generation technology, today announced
the funding and completion of major project agreements
for its first-of-a-kind power plant.
The 50MWt demonstration plant will
validate the world’s first natural gas power generation system
that produces no air emissions and
includes full CO2 capture without requiring
expensive, efficiency-reducing carbon capture equipment.
The $140 million project—
which includes ongoing process engineering,
plant engineering, procurement and construction,
a full testing and operations program, and
commercial product development—
is funded by a combination of cash and
in-kind contributions from Exelon Corporation and CB&I.
Bill Brown
NET Power CEO
“This program highlights the private sector’s unique ability
to develop breakthrough technologies
without having to settle for anything less than
compelling economics,”
“We are extremely excited to move forward on
this important power plant with the outstanding team of
Exelon, CB&I, Toshiba and 8 Rivers Capital.”
Chris Crane
Exelon President and CEO
“This technology is a potential game changer in
reducing carbon emissions from power generation."
“The collaboration with CB&I, Toshiba and 8 Rivers
is another step towards
Exelon’s vision of a clean, innovative energy future.”
Shigenori Shiga,
President and CEO of
Toshiba Corporation Power Systems Company
“Toshiba is excited to have achieved this major milestone
together with Exelon, CB&I and 8 Rivers,”
“We are pleased that our world-leading experience in
supercritical steam has paved the way
for the design and manufacture of
the innovative supercritical CO2 turbine that
we will provide for this new, game-changing technology.
We are committed not only to the success of
the turbine and combustor for the demonstration plant,
but, more importantly, to the successful development of
the commercial plant as well.”
Philip K. Asherman,
CB&I’s President and Chief Executive Officer.
“Our participation in NET Power further expands
CB&I’s technology portfolio and will allow our customers
the ability to meet today’s increasing energy demands
while complying with
tomorrow’s stringent environmental regulations,”
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