PSCM Energy, a clean energy company based in Cedar Park, Texas, is proud to announce they have received a contract to purchase 14,000,000 barrels per year of IMO-2020-compliant marine-grade oil annually from a large international ship building and shipping company. The renewable contract is valued at over $1.14 Billion US Dollars annually.
PSCM Energy and its partner Global Advanced Technologies, LLC (GAT) are implementing a new desulfurization technology which has been developed over the past 15 years and promises to revolutionize the oil refining industry. The looming deadline of a sulfur cap on marine fuels imposed by the International Maritime Organization (IMO), which will go into effect on January 1st, 2020.
Commenting on the contract, Mr. Kenneth Templeton, PSCM Energy, CEO, stated that “We are poised to deploy this revolutionary technology around the world in 2019 and look forward to starting construction of our Texas facility in January 2019 to fulfill this order.”
The revolutionary technology has approximately 1/10th of the capital costs, and 1/3rd of the operating costs of HDS hydrogen-based desulphurization methods. Furthermore, this new technology is the lowest-cost option for meeting the new IMO-2020 marine fuel sulfur content limits, which have been lowered from the current limit of 3.5% to 0.5% globally, and to 0.1% in the EU and the USA.
PSCM Energy is also in negotiations to supply other large customers around the world and expects to make additional announcements in the near future.
A team of experienced and seasoned professional in technology development/ownership, construction, project management, supply chain and operations will facilitate rapid movement from construction to operations of the first marine-grade oil production facility utilizing this new method, which is set to be constructed in the state of Texas within the next 60 calendar days.
No further information is available at this time.
About PSCM Energy
PSCM Energy is headquartered in Cedar Park, Texas, and provides energy ecosystem services, supply chain management, sustainable utilities and technology integration solutions for business, government and industries worldwide.
To learn more about PSCM Energy, please visit: www.pscmenergy.com.
About Global Advanced Technologies
Global Advanced Technologies, LLC, is headquartered in Savanna, Illinois, and offers new approaches and equipment for refining, oil recovery, oil/water separation and clean up that are both cost-effective and environmentally friendly.
To learn more about Global Advanced Technologies, LLC, please visit: www.globaladvancedtechnologies.com.