HOUSTON, Sept. 23, 2013 /PRNewswire-iReach/ --
Pinto Energy LLC
("Pinto Energy" or "Pinto" or "the Company")
Announcing Gas-to-Liquids Plant in Ashtabula, Ohio
Pinto Energy LLC (Pinto), a developer of smaller scale Gas-to-Liquids (GTL) facilities, is pleased to announce its Ashtabula GTL project.
The 2,800 barrel per day (bpd) plant will be built at Pinto's 80-acre industrial site to the east of Ashtabula, Ohio. It will convert abundant low-cost natural gas from the Utica and Marcellus shale region, into high value specialty products (solvents, lubricants and waxes), as well as ultra clean transportation fuels.
The state of the art GTL facility will create 30 new, direct, well-paying jobs, 400 temporary construction jobs, as well as result in the creation of an estimated 112 indirect jobs, to give a total of 542 local jobs. Pinto recently filed the project's air and water permits, and is in discussions with regional economic authorities for further local support.
"Pinto is pleased to be joining the Ashtabula community," stated Guy Dove, Chairman of Pinto Energy. "By building one of the first North American GTL facility in Ashtabula County, Pinto is creating well-paying jobs and extending the benefits of increased domestic energy production to North Eastern Ohio."
North American natural gas production has increased significantly in recent years, leading to persistent low natural gas prices and an increase in gas conversion projects. Gas-to-Liquids technologies, such as Fischer Tropsch (FT), have existed since the early 20th century, but recent technological advancements have radically transformed the GTL landscape.
After a thorough review of the existing technologies, Pinto has chosen to utilize Velocys Plc (Velocys) FT technology. Velocys advanced catalysts and proprietary microchannel reactors offer unparalleled efficiencies for GTL projects today. Pinto has agreed to commercial license terms with Velocys and made a down payment towards the FT reactors.
"Velocys offers the most efficient and cost effective GTL technology on the market today," stated Michael Reinart, President of Pinto Energy." Pinto looks forward to working with Velocys on our Ashtabula GTL facility and other GTL projects in the Pinto portfolio."
Pinto has chosen Ventech Engineers International LLC (Ventech) as the project's EPC Contractor. Ventech is a global leader in the design and construction of new modular refineries, and will build these GTL plants at their Pasadena, Texas fabrication complex. The modules will be transported to the Ashtabula project site for installation.
Ventech began designing the Ashtabula facility in April 2013. The plant design is expected to be complete at the end of 2013, and Pinto is seeking to start construction in the first half of 2014. Mechanical completion of the plant is expected in late 2015, with start-up in early 2016.
For further information, please contact:
Guy Dove, Chairman +1 (540) 687-6351
Notes to Editors
Pinto Energy LLC
Pinto Energy, LLC is a Houston-based developer of GTL facilities in North America. The principals of Pinto Energy have been developers of energy projects in the US since 1986.
Oxford Catalysts Group
Oxford Catalysts enables Gas-to-Liquids (GTL) plants to convert unconventional, remote and problem gas into valuable liquid fuels. Systems based on the Group's technology (marketed under the brand name Velocys) are significantly smaller than those using conventional technology, enabling modular plants that can be deployed cost effectively in remote locations and on smaller fields than is possible with competing systems. Together with world-class partners, Oxford Catalysts provides complete smaller scale GTL solutions that address an untapped market of up to 25 million barrels of fuel a day.
Oxford Catalysts Group PLC is listed on the AIM market of the London Stock Exchange. The Group has some 85 employees with facilities near Oxford, UK and Columbus, Ohio, USA.
Oxford Catalysts Group PLC is changing its name to Velocys plc on 25th September 2013.
Ventech Engineers International LLC is a global leader in the design and construction of new modular refineries, gas processing systems, plant relocations, specialized fabrications and market appraisals for the chemical, refining and gas production industries. Ventech's headquarters and fabrication complex are located in Pasadena, Texas. Subsidiary offices are located in Moscow, Russia; Alabang, Philippines; and Ankara, Turkey.
Media Contact: Guy Dove, Pinto Energy LLC, +1 (540) 687-6351, Info@PintoGTL.com
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SOURCE Pinto Energy LLC