alarm:clock

Alternative Energy - Tuesday, April 25, 2006

Coal Startup Funded - That's Right, Coal

Making coal a clean, alt energy is the goal of GreatPoint Energy. The company was profiled by NPR today. Venture firm Great Point Ventures created the company out of a decades old research project launched during the last energy crisis. GreatPoint makes the case that coal is perhaps the most abundant and low cost of fuels in the US and that making it a clean energy could make a far bigger impact than solar, wind or hydrogen projects.

GreatPoint Energy converts coal into methane or substitute natural gas. Coal is mixed with a 'secret' catalyst and fed into a gasifier. Inside the gasifier, the coal and the catalyst are combined with steam and subjected to pressure. That causes a chemical reaction that converts them into carbon monoxide and hydrogen.

Founder & CEO Andrew Perlman

CEO Andrew Perlman is a serial startup-guy who has sold companies in sectors from bio-tech to semiconductors and telecom. He and a couple of partners' from his ventures launched GreatPoint Ventures. Other investors include Draper Fisher Jurvetson and Advanced Technology Ventures.

Listen - Turning Dirty Coal Into Clean Energy (NPR)