Update on Alchemix HydroMax

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The HydroMax technology uses any carbon source including low sulfur and high sulfur coal to produce electricity, hydrogen and syngases which can be used as fuel for gas-fired power plants or converted into diesel, jet fuel, gasoline or ammonia. Alternate carbon sources include petroleum coke, municipal waste, biomass and shredded tires.

The company continues to make excellent progress as the U.S. Patent Office has now allowed 206 claims contained within a handful of patent applications. There is an opportunity to participate in an independent engineering evaluation of HydroMax vs. other hydrogen production technologies (such as gasification), to participate in a demonstration program, and to make a direct investment in Alchemix.

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See: UFTO Note – H2 Production Adapts Smelting Technology, 15 Nov 2002:

http://www.ufto.com/clients-only/uftonotes02.html#Subject:%20UFTO%20Note%20-%20H2%20Production%20Adapts%20Smelting%20Technology
(password required)

HydroMax adapts existing metal smelting technology to convert dirty solid fuels to clean gases. In iron making, carbon (coke) is mixed into molten iron oxide, and the result is elemental iron (Fe) and CO2. Alchemix’s new process, HydroMax, injects steam into a molten iron bath which makes H2 and iron oxide (FeO). HydroMax then makes use of iron making technology to return the iron oxide to pure iron for re-use. These two steps are done one after the other, and the fixed inventory of iron/iron oxide remains in place. (To produce a steady output stream, two reactors alternate, one in each mode.)

FeO + C –> Fe + CO2
Fe + H2O –> FeO + H2

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A great deal of information is available at the company’s website:
http://www.alchemix.us

Look under “News” and “Shareholders” for several powerpoint presentations and other items. Also a white paper under “Technology”. These emphasize the point that Alchemix provides a bridge strategy between hydrogen now, and the hydrogen economy of the future.

Alchemix says they have the lowest cost zero-emission coal/hydrogen technology, noteworthy in light of the somewhat controversial and problematic DOE FutureGen plan* to spend over $1 billion on a gasification approach. See Alchemix’s comments on how HydroMax will meet the FutureGen goals far more effectively.
http://www.alchemix.us/AlchemixFutureGenComments.pdf

(* http://www.fe.doe.gov/coal_power/integratedprototype/index.shtml)

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Latest developments include specific plans for a commercial demonstration plant to be built in cooperation with members of the Canadian Oil Sands Network for Research and Development (CONRAD, http://www.conrad.ab.ca). Several members of CONRAD decided on July 15 to proceed with an engineering study to evaluate the HydroMax technology, economics and environmental impact in comparison with the alternate methods of producing hydrogen (i.e. steam methane reforming, gasification of solids and partial oxidation of heavy liquids). If the results of the study are positive for HydroMax as expected, then this group is likely to proceed with funding the first HydroMax plant, to be built in northern Alberta where the oil sands are located.

The plant will use petroleum coke to make 20 million scf/day of hydrogen and 10 MW of electricity. The plant will be profitable. An executive summary available on the Alchemix website (under “Introduction”) includes pro formas for the plant.
http://www.alchemix.us/AlchemixExecSummary5.05.03.pdf

The group in Canada would welcome participation in the study (and the demo plant) by additional companies including US utilities. Alchemix will make introductions for anyone who is interested.

The group includes governmental organizations and private companies who will provide funding for the plant but may not require an equity position since they are interested in accelerated access to the technology. Alchemix, anticipating a capital requirement on its part for a substantial portion of the project (estimated at $120 million US), has drafted an investment opportunity. The proposal is for sale of stock in Alchemix with a call option for another traunch as the project proceeds.

A detailed memo on the rationale for this investment is available (password required) at:
http://www.ufto.com/clients-only/clientdocs/AlchemixOffer7.16.03.doc

Contact Robert Horton, Chairman
480-488-3388 rhorton@alchemix.net

Bicarb Cleans Up Stack Gas Emissions

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The same baking soda (sodium bicarbonate) sold in grocery stores and used for a 101 things around the home is also one of the best solutions to scrub emissions from coal-fired power plants. Purification of flue gas emissions using sodium bicarbonate has always been recognized as a highly effective process for removing SO2, SO3, NOx and heavy metal compounds from flue gas. However, sodium bicarbonate scrubbing has 3 serious drawbacks:

1. The cost of sodium bicarbonate is excessive;
2. The resulting byproduct of the sodium bicarbonate SOx reaction (sodium sulfate) has limited economic value;
3. Sodium sulfate disposal is expensive and poses a significant environmental problem.

Despite its recognition as a superior scrubbing technology, these prohibitive operating issues have kept flue gas scrubbing with sodium bicarbonate from realizing any significant market share.

Airborne Pollution Control Inc., a Calgary based company, has developed a solution to the challenges of sodium scrubbing. The Airborne process begins with the injection of bicarbonate into the flue, where it reacts with and captures the pollutants. The key to Airborne’s patented process is its ability to regenerate the “residue” (it is converted back into sodium bicarbonate that can be reused for flue gas scrubbing), and at the same time, to make a high-grade fertilizer byproduct.

The Airborne process eliminates the disposal problem, improves the economics and most importantly it does a superior job of addressing the multiple pollutants inherent in flue gas emissions. Additionally, Airborne has a proprietary process to granulate their fertilizer. Airborne’s thin-film pan granulation technology makes the fertilizer more stable, shippable, blendable, customizable and ultimately more valuable.

Together with the Babcock & Wilcox, US Filter HPD Systems, and Icon Construction, Airborne is operating an integrated 5 MW demonstration facility to showcase the Airborne Process. The plant is located in Kentucky at LG&E Energy Corp’s Ghent generating facility.

Last year DOE received 36 proposals for projects valued at more than US$5 billion in the first round of President Bush’s Clean Coal Power Initiative. The Airborne Process was 1 of only 8 successful proposals, and was selected for US$31 million in funding for the implementation of Airborne’s multi-pollutant control process.

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| Clean Coal Power Initiative Round One
| http://www.netl.doe.gov/coalpower/ccpi/
| http://www.netl.doe.gov/coalpower/ccpi/pubs/news/020703.html
| “Commercial Demonstration of the Airborne Process” [PDF-495KB] __
| http://www.netl.doe.gov/publications/factsheets/project/Proj220.pdf

In short, this means that high sulfur coal can be burned in an environmentally friendly and economically efficient manner. The Airborne process removes multiple pollutants and it meets or exceeds all current and pending environmental requirements for SO2, SO3, NOx and mercury. For the first time pollution abatement becomes an economically rewarding investment for the power producer.

Over the next 5 years, Airborne has conservatively targeted the application of its technology to 10 new and existing coal-fired electrical generation plants. This conservative target represents less than 1% of the global available market and translates to a total installed capacity of approximately 7500 Megawatts (MW) out of approximately 800,000 MW of coal-fired power generated world-wide.

One concern with the production of fertilizer byproducts is maintaining a balance between the supply and demand for sulfur based fertilizers, a demand which is predicted to grow as sulfur emissions are reduced at the source. Airborne has a worldwide agreement with the Potash Corp of Saskatchewan Inc. (PCS), the world’s largest manufacturer and distributor of fertilizer products. Airborne has a worldwide marketing agreement with PCS whereby PCS will market the various fertilizer outputs, providing Airborne with access to worldwide markets and providing PCS with a unique addition to their portfolio of fertilizer products.
(http://www.airbornepollutioncontrol.com/potash.html)

Airborne has made a major investment in the development and demonstration of this patented process and is seeking equity investment partners to take it to the next level.

http://www.airbornepollutioncontrol.com/

Contact: Leonard Seidman
T: 403.253.7887 Ext: 310
E: L.Seidman@AirbornePollutionControl.com

“Multi Pollutant Control with the Airborne Process” [ 1.1 MB PDF] (… details the experimental and analytical results of a lab and pilot scale 0.3 MW coal fired combustion test facility and the progression to an integrated 5 MW facility)
http://www.airbornepollutioncontrol.com/papers/59.pdf