The company began research and development approximately a decade ago as Conventus. We recently changed our name to Ethic Energy to better reflect our core business and vision as the company transitions from R&D to commercialization.
The company’s first objectives were to determine if it was technically possible, and economically feasible to commercialize a “disruptive” technology that had the potential to revolutionize both the Energy and Chemical sectors. After determining it was technically possible, the next objective was to determine the economic feasibility. From this stage, the company began research and development building its first lab scale reactor approximately eight years ago; as each research and development milestone was achieved, the funding increased leading to a successful demonstration of a pre-commercialization scale reactor, and then to today’s achievement – a commercial scale reactor. Today research and development is complete.
The company’s reactors utilize natural gas, bio-gas or stranded / associated natural gas as a feedstock to produce synthesis gas or hydrogen- the building block of all synthetic liquid fuels, and the majority of chemicals. The result of the company’s technological achievement has without question the ability to play a major role in solving one of the greatest problems facing humanity; the risk of world energy consumption outpacing energy growth. The U.S. Energy Information Administration (EIA) is projecting world energy consumption will increase 56% by 2040 as reported in “A International Energy Outlook”; release date September 2017.
Renewable energy such as wind and solar is a welcomed and necessary part of our mix in reaching our future energy requirements, however even by the most optimistic of estimates renewables are forecasted to represent 14% of the total energy required by 2040. What has limited the growth of renewables primarily is an economical solution for storing energy generated when it is needed – during evening hours, days the sun does not shine, or when there is no wind; to solve this shortcoming will require major advancements in battery technology.
It makes sense to use our own natural resources and the cleanest and most abundant energy source we have around the globe is natural gas. Current global natural gas reserves total approximately 6,100 trillion cubic feet (tcf), according to EIA estimates.
MILESTONES
2008
Year Established
2010
First successful
demonstration lab
scale reactor
2017
Research & Development
complete
2018
Commercialization
2022
Private Funding Secured
2023
Construction of 150,000 bls/d /
32.8-gigawatt plant to begin in 2023
