Rocky Mountain GTL Inc. Secures A $15 Million Term Loan and Awards Contract for the Construction of Canada’s First Commercial Gas-to-Liquids Plant
Sacramento, CA, August 14th, 2019– Rocky Mountain GTL Inc. (the “Corporation”) is pleased to announce that it has secured a $15 Million Term Loan with Roynat Capital (a division of Scotiabank) and awards Midwest Construction Group Inc. as general contractor of the Corporation’s Enhanced GTL EGTL™ plant 60 kilometers east of Calgary, near Carseland, Alberta.
Rocky Mountain GTL has licensed the industry leading Direct Fuel Production™ technology, from Greyrock Energy Inc. (“Greyrock”), that transforms low value, underutilized resources such as flare gas, natural gas, and natural gas liquids into higher value, cleaner burning diesel and other premium liquid fuels through an advanced gas-to-liquids (GTL) process.
Field construction of the Corporation’s Carseland Enhanced GTL (“EGTL™”) facility commenced May 2019. The plant is designed to process up to ~5.0 MMscfe/d of natural gas and natural gas liquids into a nominal 500 bbl/d of paraffinic synthetic diesel and naphtha. The Carseland plant will incorporate several unique environmental features, such as self-sustained water supply, self-sufficient on electric power, and will recycle significant process CO2 in order to produce additional synthetic diesel. The Carseland plant forms the basis for future EGTL™ plants that are scalable from 5.0MMscfe/d to 50.0 MMsfce/d of natural gas capacity.
“The Carseland plant will be the Canada’s first commercial Gas-to-Synthetic Fuels project, signaling a new era of natural gas processing and monetization. The patented EGTL™ plants convert Natural Gas/Natural Gas Liquids/Liquid Petroleum Gas, in any combination, into a single synthetic paraffinic diesel product. Rocky Mountain GTL Inc. will eliminate price or pipeline accessibility issues for producers by providing optionality to produce natural gas (stranded or otherwise) and associated liquids by converting this resource to synthetic diesel. The unconventional oil and gas boom and global anti-flaring initiatives have created an unprecedented opportunity for Rocky Mountain and its partners to be world leader in the conversion of natural gas to high performance, zero sulphur, low emission and low Carbon Index synthetic liquid fuels,” stated James H. Ross, the Corporation’s Chief Executive Officer.
“We congratulate the Rocky Mountain GTL team in completing this important financing and the continued construction progress at the plant. The completion of this plant sets a standard for how natural gas and NGLs can be monetized in Canada.” Said Robert Schuetzle, CEO, Greyrock.
Greyrock’s Direct Fuel Production™ technology transforms low value, underutilized resources such as flare gas, natural gas, and natural gas liquids into higher value, cleaner burning diesel and other premium liquid fuels through an advanced gas-to-liquids (GTL) process. Headquartered in Sacramento, CA, Greyrock and its network of partners provide production-ready solutions and support to energy producers around the world. Learn more at http://www.greyrock.com.