Mar 21 2007
An Australian company behind one of the cleanest fuel technologies in the world has secured its second major breakthrough in the huge Indian transport market.
ASX-listed Eden Energy Ltd today announced that one of its wholly owned subsidiaries had secured an agreement with one of India’s largest natural gas groups, Gujarat State Petroleum Corporation Ltd (GSPC) to market Eden’s Hythane® fuel technology throughout Gujarat – a heavily industrialised state in northwest India.
The agreement, which now only relies on formal sanction by the GSPC Board, will apply for the next five years.
Hythane®, a mixture of hydrogen and natural gas, is a high efficiency, low emission premium blend of natural gas which reduces emissions of polluting nitrogen oxide by up to 50% compared with just natural gas, and which Eden is increasingly marketing on a global basis.
Gujarat State Petroleum Corporation – which owns oil and gas exploration interests in Western Australia and Victoria - is a major Indian Natural Gas producer, pipeline operator, distributor and marketer.
Today’s breakthrough adds to Eden’s announcement in December last year that it had secured a 10-year agreement with the large bus and heavy transport group, Chennaibased Ashok Leyland for Eden’s patented Hythane® fuel blend to be introduced across tens of thousands of public transport vehicles in India.
Eden Energy’s Executive Chairman, Mr Greg Solomon, said today the Gujarat signing was a further major milestone for Eden in its efforts to establish Hythane® as the Natural Gas fuel standard “in the enormous emerging Indian Natural Gas market for vehicles, power generation and locomotives”.
“Eden is hopeful that this will be just one of several strategic agreements related to the marketing and rollout of Hythane® in India that Eden and its subsidiaries will enter into over the next six to 12 months with various major companies and organizations that operate in relevant sectors of the Indian Natural Gas market,” Mr Solomon said.