Global Green Solutions Inc.(GGRN.OB), a developer of ecotechnology solutions for renewable energy and greenhouse gas reduction, has completed its acquisition agreement with Greensteam Development Inc. The new business, Global Greensteam LLC, a joint venture with ITS Engineered Systems and The Onix Corporation, will convert waste biomass into low cost steam for industrial applications.
Global Greensteam will reduce steam generation energy costs up to 30 percent less than natural gas-fueled steam. Waste biomass will be converted to steam using a low-polluting cyclonic solid fuel burner. The burner is incredibly efficient and releases minimal carbon dioxide and nitrous oxide, and virtually no sulfur, into the atmosphere. Currently, the waste biomass is clogging landfills or burned at the production site, contributing to air pollution. With Global Greensteam, a virtually unlimited supply of waste biomass will be transformed into renewable fuel.
The company will design, build, own and operate the steam generation units. Global Greensteam will retrofit or replace a customer’s current steam generators at the customer site and can assume responsibility for steam generation operations. This outsourcing of steam generation will allow customers to concentrate on their primary businesses by eliminating their involvement with the steam generation process.
Global Greensteam and Aera Energy LLC Sign MOU
Global Greensteam LLC has also signed a Memorandum of Understanding (MOU) with Aera Energy LLC (Aera), one of California’s largest oil and gas producers. Under the terms of the MOU, Global Greensteam will negotiate contracts with Aera for the purchase of the steam generated by Global Greensteam’s renewable energy technology. The steam will be utilized in Aera’s enhanced oil recovery operations, replacing steam currently being generated by natural gas fired units.
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