LONDON, March 2, 2017 /PRNewswire/ -- Tecnored will present at CleanEquity Monaco 2017 on March 9th & 10th at the Fairmont Monte Carlo.
CleanEquity is an annual invitation-only event hosted by Innovator Capital, the London based specialist investment bank. The conference provides an intimate and collegiate setting for inventors and entrepreneurs to share their stories with delegates - key decision makers looking to assist them with reaching their commercial and strategic goals.
Other partners and sponsors include Prince Albert II of Monaco's Foundation, Covington & Burling, Cisco EIR, Cision, Cranfield University, Hobbs & Towne, the Monaco Economic Board, Parkview and the Social Stock Exchange.
Tecnored has been identified by an expert panel as one of the world's most innovative sustainable technology companies and has been selected to present to senior financial and strategic cleantech investors, policy makers, legislators, end users and media.
Tecnored is an innovative technology for the production of liquid iron with the potential for zero net carbon emissions. It aims to be commercialized at a lower total cost, investment and operating cost, than existing technology's operating cost. The reduction in operating cost results from a 15% increase in energy efficiency whilst using lower cost raw materials, including biomass charcoal fines and a wide range of steel plant waste residues. Using 100% biomass charcoal, and accounting for credits from power generation, the technology has a net zero carbon impact. If biomass charcoal is not available at the location it can operate with thermal coal fines, half the cost of the traditionally used metallurgical coal.
The concept of self-reduction, using a cold briquetted mix of iron ore and carbon fines instead of traditional lump coke and iron ore sinter, has been under development for 30 years. By using cold briquetting two 1,000 degree furnaces are dispensed with - the coke ovens and sinter furnaces that are traditionally used to prepare the feed for the blast furnace. In addition, the Tecnored furnace is far more compact, 30m high instead of 100m for the blast furnace, due to the greatly accelerated reduction of the iron ore to liquid iron, 20 minutes for the briquettes in Tecnored, as compared to 8 hours for the blast furnace. Using one compact Tecnored furnace instead of the three furnaces traditionally used reduces the investment. The use of one furnace instead of three increases energy efficiency. The increased energy efficiency and the use of cheaper raw materials reduces the operating cost.
In 2011 Tecnored commissioned a first-of-a-kind industrial plant in Sao Paolo, Brazil, with a nominal capacity of 75,000 tonnes/year. This plant ran trial campaigns over five years until the process was proven commercially viable in 2015, producing high quality iron which allows Tecnored easily to be retro-fitted into existing steel plants.
Annual global steel production totals 1.6 billion tonnes, and represents 9% of total global carbon emissions. Tecnored aims to profitably address this challenge with the company targeting to install annual production capacity of 20 million tonnes over the next 20 years, representing 1% of global production. Early plant sales are envisioned to be replicas of the existing industrial plant used to process steel plant residues. In addition, plants 4 times the size can be installed to complement iron production at blast furnaces, or at electric arc furnaces where the use of liquid iron can both increase productivity and reduce power consumption.
In a regulatory context where steel plants are pressured by both economic and environmental challenges, Tecnored can offer solutions by processing waste residues, reducing environmental liabilities and reducing the carbon footprint, all whilst reducing cost.
After halving the carbon footprint and particulates emissions using blast furnaces from the second world war to the beginning of the new millennium, technical limits have been reached with little meaningful improvement over the last two decades. Other new technologies have been tried since the 1970's but with no new technologies trialled at an industrial scale since 2005. Tecnored represents the best hope for a truly sustainable steel industry.
Tecnored is currently seeking both strategic investors, interested in leading the proliferation of the technology, as well as cleantech co-investors to provide good governance, leadership and insights on the path to commercialize the technology. The company is running a financing round for $10 million, to be met with an equal amount of match funding, to conclude 3 groups of projects over two years increasing the environmental range of the technology.
Tecnored Desenvolvimento Tecnológico S.A.
Av. Eng. Luiz Dumont Villares, KM 2
12442-260 Pindamonhangaba, São Paulo - Brazil
T.: (+55 12) 2126 5252 R: 5270
E.: hermes.filho@tecnored.com.br
About Innovator Capital
Innovator Capital, established in 2003, is a specialist investment bank advising emerging technology companies on corporate finance, mergers and acquisitions. Its expertise includes intellectual property and multi national strategic partnering.
SOURCE Innovator Capital
