2005 founder andrew perlman headquarters chicago illinois u.s. products natural gas from coal website www.greatpointenergy.com greatpoint energy inc. is a chicago illinois based energy company that produces natural gas from coal petroleum coke and biomass utilizing catalytic hydromethanation . greatpoint energy was founded in 2005 by serial entrepreneur andrew perlman and his business partners . the company has raised 150 million in venture capital 1 from dow aes corporation suncor energy inc. peabody energy advanced technology ventures atv draper fisher jurvetson kleiner perkins caufield & byers khosla ventures and citi capital advisors cca . in may 2012 greatpoint energy and china wanxiang holdings closed a 1.25 billion investment and partnership agreement to finance and construct the first phase of a one trillion cubic feet per year coal to natural gas production facility in china . 1 the deal between greatpoint energy and wanxiang was the largest us venture capital investment in 2012 . 2 technology edit greatpoint energy utilizes a sulfur tolerant catalyst that enables gasification at the low temperatures where water gas shift and methanation reactions concurrently take place . 3 the catalyst which is continuously recycled and reused within the reactor reduces the gasifier operating temperature . 4 under these lower temperature conditions pipeline grade methane is produced . 5 as part of the overall process the technology enables the recovery of contaminants in coal petroleum coke and biomass as useful byproducts and nearly all of the co2 produced in the process is captured as a pure stream suitable for sequestration or enhanced oil recovery . 1 greatpoint energy deal in china edit china has the world s third largest reserve of coal 6 making coal such a cheap and abundant fuel source that the country relied on it for about 70 % of its energy in 2009 . 7 china burns almost as much coal as the rest of the world combined according to the international energy agency 8 and as a result air pollution has gotten so bad that a study by the world bank found that air pollution kills 750 000 people every year in china . 9 amidst growing public concern social unrest incidents are growing around the country . for example in december 2011 the government suspended plans to expand a coal fired power plant in the city of haimen after 30 000 local residents staged a violent protest against it on the grounds that the coal fired power plant was behind a rise in the number of local cancer patients environmental pollution and a drop in the local fishermen s catch . 10 in addition to environmental costs at home china s dependence on coal is cause for concern on a global scale . due in large part to the emissions caused by burning coal china is now the number one producer of carbon dioxide responsible for a full quarter of the world s co2 output . 11 according to a recent study even if american emissions were to suddenly disappear tomorrow world emissions would be back at the same level within four years as a result of china s growth alone . 12 the country has taken steps towards battling climate change by pledging to cut its carbon intensity the amount of co2 produced per dollar of economic output by about 40 per cent by 2020 compared to 2005 levels . 11 reuters reports that emissions and coal consumption will continue to rise through the 2020s even though at a slower rate barring a major intervention including a shift to cleaner burning gas from coal in other words meeting the carbon intensity target will require a significant change in trajectory for carbon emissions and coal consumption . 13 to that end china has announced a plan to invest 2.3 trillion yuan 376 billion through 2015 in energy saving and carbon emission reduction projects . 13 greatpoint energy s coal gasification technology appeals to china because it allows them to keep using cheap domestic coal but in a much cleaner manner . in 2012 greatpoint announced a 1.25 billion deal to build the first of 34 reactors in a remote coal rich part of china . the total project will cost an estimated 20 25 billion and will supply a trillion cubic feet of natural gas . 14 this represents a massive leap in the scale of domestic production for china which last year produced only 107 billion cubic feet of natural gas . 15 the deal includes an equity investment of 420 million the largest ever by a chinese corporation into a venture capital funded u.s. company according to industry tracker venturesource . 16 references edit a b c kolodny lora 20 february 2012 . bluer skies for shanghai . the wall street journal . retrieved 7 june 2013 . wesoff eric 2 january 2013 . greatpoint energy and fisker automotive win the largest vc rounds in 2012 . green tech media . retrieved 7 june 2013 . shogren elizabeth 25 april 2006 . turning dirty coal into clean energy . national public radio . retrieved 7 june 2013 . fairley peter 30 january 2007 . cheaper natural gas from coal . mit technology review . retrieved 7 june 2013 . rennie john 11 march 2009 . cleaning up the dirtiest fossil fuel one company s coal fix . scientific american . retrieved 7 june 2013 . 2010 survey of world energy sources world energy council 2010 china us energy information administration clinch matt china s shift may mean coal s days are numbered the telegraph uk 19 august 2013 spencer richard pollution kills 750 000 in china every year the telegraph uk 4 july 2007 south china town unrest cools after dialogue associated foreign press 23 december 2011 a b bawden tom china agrees to impose carbon targets by 2016 the independent 21 may 2013 muller elizabeth china must exploit its shale gas the telegraph 12 april 2013 a b wynn gerard china s carbon goal shows coal growth has peaked reuters 7 august 2013 daniels steve a chicago company brings power to the people s republic crain s chicago business 12 september 2012 china s natural gas consumption up 13 % in 2012 china knowledge newswires 29 january 2013 kolodny lora bluer skies for shanghai wall street journal venture capital dispatch 20 february 2012 retrieved from https en.wikipedia.org w index.php title greatpoint energy & oldid 647211122 categories energy companies of the united stateshidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 15 february 2015 at 07 23 . text is available under the creative commons attribution sharealike license ; 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