Hestia Project

The Hestia Project has commenced preliminary front-end engineering design (Pre-FEED) to assess and demonstrate two North American emission-free power projects utilizing Clean Energy System’s proven Oxy-Fuel burner technology.  The Oxy-Fuel burner technology is licensed by Valverde and owned by Clean Energy Systems (“CES”), a global leader in the development and deployment of carbon-reducing energy systems. The scalable CES Oxy-Fuel solution is designed to provide 10 MW to 100 MW of emission-free electrical power to meet the customer’s specific project requirements.

The Canadian project utilizes pipeline-quality natural gas in an enhanced oil recovery (EOR) operation. The U.S. project utilizes a natural gas return-stream contaminated with CO₂, also in an EOR operation.  Upon completion, each project will generate carbon-free electrical power used in oil field operations and for sale to the grid, while the CO₂   is safely sequestered in the oil and gas reservoir for 100% capture of the GHG emissions.

VPS serves as project manager for the two Hestia projects.  The Hestia Project participants include:

• Malaysian international shipping company, MISC Berhad (misc.com.my)
• Norwegian engineering and service company, Aker Solutions (https://www.akersolutions.com/ )
• Oxy-Fuel technologist, Clean Energy Systems (cleanenergysystems.com) and;
• Valverde Power Solutions

Oxy-Fuel Benefits to Oil and Gas Operators

• Additional CO₂ provided extends economic life of reserves in the ground and can lower lease operating expense (LOE)
• Reduced carbon footprint
• Can attract carbon credits and investment tax credits (ITCs) in Canada
• Can qualify for Low Carbon Fuel Standards (LCFS) in the US
• Now qualifies for 45Q under the new CO₂ threshold under Inflation Reduction Act of 2022 applicable in the US
• Eliminates or reduces electricity draw from the grid
• Reduced or eliminated emissions can help meet ESG requirements