OUTOTEC OYJ PRESS RELEASE MAY 15, 2013 at 2:00 PM
Outotec collaborates with Global Oil Shale in the development of a concentration process for oil shale
Outotec and Global Oil Shale Group have agreed on collaboration in the development of a commercial scale concentration process for kerogen, a mixture of organic material contained in surface mineable oil shale deposits. The parties will initially focus on Global Oil Shale's existing oil shale resources, such as a 2.18 billion barrels oil shale project in Julia Creek, Queensland, Australia and other deposits under evaluation and acquisition in North Africa, Middle East and elsewhere.
Global Oil Shale Group is a global energy company exclusively focused on oil shale, large scale mining and processing of the world's kerogen rich oil shale deposits to oil - with potential for add on electricity production and associated minerals extraction.
Outotec is a leading minerals and metals technology company and an innovative supplier of sustainable solutions for industrial water treatment as well as renewable and alternative energy, including oil shale. Concentration of kerogen contained in oil shale improves the oil shale feedstock used for production of shale oil, synthetic gas and electricity through retorting or gasification processes.
"We believe that kerogen concentration has the potential to unlock significant value as well as improve the environmental performance of the oil shale industry. Our collaboration with Global Oil Shale will complement our expertise in the energy sector", says Kari Knuutila, Chief Technology Officer of Outotec.
For further information please contact:
Kari Knuutila, Chief Technology Officer
Tel. +358 20 529 2009, +358 40 779 9566
Eila Paatela, Director - Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198