Monday, November 14, 2011
Lone Start Advanced Technology, LLC, is in the energy sector and based on an alternative fuel conversion process that transforms lignite coal into heavy crude using an efficient and cost-effective micro-refinery concept. Developed by Drs. Richard Billo, Brian Dennis, and John Priest at UT Arlington, the technology has received over $2.4 million in external funding from the Department of Energy, the Department of Defense, and others as well as more than 50 inquiries from potential licensees and investors. Materials and processing costs are estimated at only $25 per barrel, suggesting that a profitable refining operation can be supported. Texas in particular has abundant lignite coal that can potentially be converted to heavy crude, and American oil refineries are fully capable of upgrading it into low-cost pitches, cokes, gasoline and diesel fuels. TIF funds were essential for helping to develop objective data on cost, quality and feasibility of this breakthrough process.
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