BP and CAS Sign Up To Clean Energy Commercialisation Centre
BP and the Chinese Academy of Sciences (CAS) today agreed to establish the Clean Energy Commercialisation Centre (CECC) joint venture in Shanghai, jointly investing some RMB500 million ($73million) to commercialise Chinese clean energy technologies.
Dr. Tony Hayward, BP group chief executive, and Mr. Li Jinghai, Vice President of CAS, witnessed the signing of the CECC joint venture agreement at a ceremony in Beijing today. Subject to final government approvals, the CECC joint venture is expected to be established in early 2009.
The Centre will draw on the expertise and experience of both partners to integrate individual energy-related technologies - such as coal gasification and conversion, carbon capture and storage, coal bed methane and underground gasification - developed by CAS institutes and other organizations both within and outside China, into competitive integrated manufacturing systems and solutions.
Speaking at the signing, Tony Hayward said: “Truly world class technologies are now emerging from China’s research institutions. This Centre, in bringing these innovations into commercial reality has the potential to play a significant role in delivering local energy solutions to address issues that have a global impact.”
“Deploying technologies to exploit our coal resources more effectively and efficiently is one of the greatest challenges facing China,” noted Mr. Li Jinghai. “Innovative solutions will bring positive impact not just to China, but also to the global economy, supporting the goal of energy security, and environmental stewardship.”
The CECC will also serve as an international platform for further collaboration among research institutes, enterprises and other institutions to improve indigenous Chinese innovation capabilities and market applications in areas such as clean coal conversion, zero emission technologies, and carbon capture and storage.
Located in the CAS Shanghai Pudong Science and Technology Innovation Park, the BP and CAS joint venture will have an equity split of 49:51 respectively.
Notes to editors:
* BP is of one of the world’s largest energy companies with operations in more than 100 countries across six continents. The company’s main businesses are exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; transportation and marketing of natural gas; and a growing business in renewable, low-carbon and alternative energies.
* BP has been operating in China since the early 1970s, investing over $4.6 billion in commercial projects to date. Its activities in China include the production and importation of natural gas, supply of aviation fuel, import and marketing of LPG, fuels retailing, lubricants blending and sales, petrochemical manufacturing and solar electric facilities. As one of China’s largest foreign investors, BP has 27 joint ventures and wholly owned companies and about 4,000 staff. Further information about BP China is available at www.bp.com.cn.
* In November 2001, BP established the “Clean Energy: Facing the Future” programme in China with CAS. BP has agreed to invest US$30 million over a thirty-year period to fund research in clean energy technologies. The programme aims to develop and prove new clean energy options for China and the rest of the world. The programme includes several projects at CAS’s Dalian Institute of Chemical Physics and Shenyang Institute of Metals Research.
* BP and CAS signed a Memorandum of Understanding in August 2007, announcing their intent to establish the Clean Energy Commercialisation Centre (CECC). In December 2007, a joint working group was set up to push forward this ambitious project, under the guidance of a newly-established joint steering commission.
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