Thursday, Green Holdings Corporation announced that its unit Green Holdings Enlow, Inc. will be developing a ventilation air methane or VAM emission abatement project for Consol Energy, Inc. (CNX).
The ventilator has the capacity to eliminate VAM emissions equivalent to 90,000 metric tons of carbon dioxide or CO2 emissions a year. Green Holdings said that globally, greenhouse gas methane, when emitted coal mines is 21 times more potent than CO2 and amounts to approximately 300 million tCO2e each year.
The ventilator is estimated to be operational in the second half of 2010 and will be installed at Consol Energy's Enlow Fork Mine located in Washington and Greene counties, Pennsylvania. The Enlow Fork Mine on an average generates about 10 million tons of coal a year.
Steven Winberg, vice president, Research and Development, Consol Energy, said, "We already have a large coalbed methane production business that removes methane from coal seams before mining, producing a valuable fuel. The agreement allows Consol to move from its current small scale ventilation air methane capture program to a commercial scale effort that, if successful, can be applied at many of the company's existing underground mines."
CNX is currently trading at $54.99, down $1.35 or 2.40%, on a volume of 1.54 million on the NYSE.
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