London-based AP Ventures has made a follow-on investment in Greyrock Energy, Inc. a provider of small-scale gas-to-liquids (GTL) technology. Greyrock’s systems are designed to transform a variety of gas resources (including natural gas, flare gas, bio-gas, natural gas liquids, and other feedstocks) into premium transportation fuels.
Greyrock’s small GTL systems provide a solution to the flaring of associated natural gas. The Global Gas Flaring Reduction Partnership, a World Bank initiative, notes that billions of cubic meters of natural gas are flared annually at oil production sites, wasting valuable energy resources and contributing to climate change by releasing millions of tons of CO2 into the atmosphere.
I’m delighted with the progress made to commercialize the Greyrock technology since our original investment in Greyrock. The number of opportunities to develop new commercial projects using Greyrock Technology is rapidly expanding with four projects in various stages of construction and start-up. This additional investment supports Greyrock’s continued growth and development at an exciting time for the company and the industry.—Andrew Hinkly, Managing Partner AP Ventures
Greyrock high-value fuels are cleaner-burning than similar petroleum-derived fuels; when blended with traditional fuels the Greyrock fuels can improve vehicular emissions profile without any corresponding change in existing infrastructure.
Additionally, Greyrock’s systems may be deployed in remote oil fields and may be configured to produce high-purity hydrogen as a by-product. This alternative source for hydrogen is a tool to address demand from fuel-cell electric vehicles and offers strong synergies with AP Ventures’ other portfolio companies which span the hydrogen value chain.
AP Ventures is investing in advanced technology companies utilizing the unique high-performance characteristics of Platinum Group Metals (PGMs). These include companies targeting hydrogen infrastructure; fuel-cell electric mobility; energy storage platforms; water treatment solutions; sensors; durable electronics; and biomedical devices.
The existing Fund I portfolio includes investments in Altergy Systems, Food Freshness Technology Holdings, Greyrock Energy, High-Yield Energy Technologies, Hydrogenious Technologies and United Hydrogen Group.