Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of MRW, please enable cookies in your browser

We'll assume we have your consent to use cookies, so you won't need to log in each time you visit our site.
Learn more

Report this comment to a moderator

Please fill in the form below if you think a comment is unsuitable. Your comments will be sent to our moderator for review.
By submitting your information you agree to our Privacy & Cookie Policy.

Report comment to moderator

Required fields.

Headline

Air Products pulls out of Tees Valley EfWs

Comment

UKWIN told 'em to get out of the gasification business, and now they have. We can see from https://www.gov.uk/government/news/new-energy-deal-to-save-84m-from-government-bill that the Government expected to "save money and create jobs by harnessing government’s buying power". This is from just 3 years ago: "A new deal was agreed today that will significantly lower the cost government pays for energy and create hundreds of local jobs, the Minister for the Cabinet Office Francis Maude announced. The new 20 year contract with Air Products, worth 2% of government’s energy spend, is expected to deliver £84 million in savings over the life of the contract through an innovative fixed agreement that will provide stability in what the public sector pays for energy." The Government even added that: "Air Products has longstanding expertise in building and operating large, complex industrial gas and energy plants ensuring its projects are delivered safely, reliably and cost-effectively." and that: "Advanced gasification is a more efficient energy-from-waste process than incineration and has a lower overall environmental impact..." Now we read, in the Wall Street Journal, that: "Air Products & Chemicals Inc. said it would be shutting down its troubled energy-from-waste business after it couldn’t efficiently resolve operational and design challenges. Despite promises of powering more than 100,000 homes in England while reducing landfill waste and generating high-tech green jobs, Air Products couldn’t figure out how to efficiently solve problems with the technologically advanced project..." That article goes on to reveal how Chief Executive Seifi Ghasemi said in a news release that the company “pushed hard” to figure the technology out and was disappointed with the outcome. “How much money do you have to pour into this thing to actually make it work?” Mr. Ghasemi said on a February call with analysts, according to a FactSet transcript. “There is going to come a time when we will stop pouring money into it if it doesn’t meet our requirements.” http://www.wsj.com/articles/air-products-to-exit-energy-from-waste-business-1459778254

Posted date

5 April, 2016

Posted time

9:30 am

required
required
required
required