Westec Environmental Solutions (WES), LLC of Kahului, HI (Island of Maui) and High Technology Development Corporation (HTDC) of Honolulu, HI today announced that Spanish utility company Iberdrola, through Perseo, has chosen to invest in WES, LLC for its carbon capture technology. Iberdrola, a one-hundred-year-old company with operations in Europe, Latin America and the United States, is the fifth largest utility and the largest renewable energy operator in the world.
Iberdrola recognized the importance of the WES Absorber technology for its ability to capture CO2 from combustion gas flues in electric power generation, and thus fight the increasing concentration of greenhouse gases in the atmosphere. The WES Absorber offers significant capital cost reductions over conventional CO2 capture systems by reducing the size of the absorbers by up to 50%. The WES Absorber also consumes significantly less energy than existing technologies.
“We are delighted to have Iberdrola as a partner,” said Mr. Frank Huebner, CEO of WES. “This is a recognition that the WES Absorber stands to revolutionize absorption across a huge range of industries. The investment will fast track our commercialization program through funding of our first pilot projects in carbon capture. The first of these is now scheduled to be built in early 2012,” added Mr. Huebner.
“WES, LLC offers a CO2 absorption technology that uses smaller gas absorption devices than the current industry standard, while achieving equal effectiveness for less cost,” stated Agustín Delgado, Director of R&D for Iberdrola. “This system applies to all industrial processes that require gas/liquid transfer through absorption, and has been designed to optimize the gas/liquid mass transfer processes in a wide variety of market sectors and applications.”
WES Research and Development is headquartered in Kahului on Maui, Hawaii where the groundbreaking technology used in the WES Absorber was developed. “The growth of WES from its origins here on Maui over a decade ago is an inspiring success story that serves as a shining example for other small tech companies,” said Maui Economic Development Board Inc. (MEDB) President/CEO Jeanne Unemori Skog. “Working with WES over the years, it is particularly satisfying to see their perseverance pay off.”
WES plans to use Iberdrola’s investment to enhance the facility’s capabilities to develop the technology for global market applications. “HTDC is very proud to have assisted WES in the startup of their research facility on Maui,” said Yuka Nagashima, Executive Director of High Technology Development Corp. “We hope this technology can serve a significant role in the making of a clean energy future for Hawaii and beyond.”
WES, LLC was selected in October 2010 as a winner of Iberdrola’s inaugural Perseo Awards in the CO2 Capture and Clean Combustion Category for the WES Absorber technology. The Perseo Awards are designed to promote research and support state-of-the-art initiatives with innovative technological applications in the clean energies sector, targeting technology projects or companies in their initial stage of development. Perseo will become a 20% shareholder in WES, LLC through the award’s equity investment.
WES, LLC has corporate offices in Chicago, Illinois and London, England. WES Research and Development has also partnered with international engineering firm Process Group Pty Ltd. in Melbourne, Australia. Process Group is a specialized engineering company and world leader in carbon capture and industrial gas separation processes.