The world has a carbon dioxide problem. Its concentration in the atmosphere has increased alarmingly since the beginning of the modern Industrial Age. Estimates are that within several years, all the carbon now in the ground must remain there and not be used for fuel if the atmosphere is to avoid a catastrophic ‘tipping’ point. Governments are aware of the problem and several are taking steps to f
orce major carbon dioxide emitters (coal power plants and cement factories) to capture carbon dioxide from their flue gases. Carbon capture is costly and at the same time the availability of captured carbon dioxide is putting downward pressure on carbon dioxide market price. For example the going price in China fell from about $50/tonne to $12/tonne as a result of a vigorous carbon capture program. This fall in price means that owners of power plants can expect less and less cost compensation from the sale of carbon dioxide. The goal to transform carbon dioxide into other commercially valuable chemicals is hindered by its chemical stability. Although many catalytic methods for reducing it have been proposed (still a very active research area), none have been commercially successful. The radiolysis of carbon dioxide by gamma radiation has been known for nearly a half century. When subjected to a gamma radiation field, the molecule breaks into pieces—one of which is an oxygen atom. If in addition to the carbon dioxide there is an energetic oxygen acceptor, such as hydrogen, ethane, alcohols, etc., then carbon dioxide emerges from the radiation field in the form of new, commercially valuable chemical feedstock products. This radiolysis process remained in the laboratory because the gamma radiation source was too weak to be of commercial interest. There is another gamma radiation source that is completely wasted: radiation from spend fuel rod assemblies in nuclear power plant cooling ponds. That is wasted …until now. The Alembic Group, Inc. has a patented method for exposing carbon dioxide and other reactants to the radiation field in a cooling pond. This method is catalyst—free, produces very pure products, and in suitable commercial quantities. Moreover our reaction vessel is close to—but not in contact with—the spent fuel rod assemblies. Calculations show that 14.6 tonnes of carbon dioxide can be consumed in a 24 hour period in one-reaction vessel system to create a variety of chemicals; carbon monoxide, alcohols, aldehydes, and ketones. Some are quite valuable: if propanol is combined with carbon dioxide in a radiation field; a mix of n-butyraldehyde and iso-butyraldehyde. The former sells for over $3.5K/tonne. Even the manufacture of carbon monoxide is valuable; it sells between $1.2K and $1.5K a tonne. A 24/7 operation on a yearly basis would yield a net profit of around $15M. We, The Alembic Group, design, manufacture, test, install, maintain and operate (if desired) small chemical plants to be installed next to the cooling ponds of any of the 507 world-wide nuclear power plants. The plant owners would buy or lease our semiportable, turn-key units. We do not expect our nuclear power plant owners to be chemists or chemical engineers; therefore we offer a full range of operating and staffing services as well as the equipment. Current estimates are that the units will be priced in the range of $10M, depending on size, and the sale cost can be made up out of the operating profits in less than a year. Gamma radiation access holders will not be limited to nuclear power plants. In the future, when fuel rod assembly transportation is permitted, any group willing to construct a deep water pool to accept a spent fuel rod assembly (or more) then build a chemical plant above, is also a customer. Unlike other startups in well-established business areas or technologies, we create not only a new business, but lay the foundation for an entirely new radiochemical industry reducing carbon dioxide to useful products that are not burnt as fuel, thereby preserving the atmosphere. This added burden means we must conduct a pilot plant demonstration of the technique to prove that it is safe, effective and commercially valuable. We hope to interest Edison International in our project and their decommissioned San Onofre Power Plant near San Clemente, CA. They must maintain cooling ponds for some years before placing the spent fuel assemblies in dry cask storage. We describe in detail this demonstration in our business plan. Briefly it has a time span of 4 to 5 years with a cost from now through its end of about $5M. At successful end of this project we will know details to better define our product separators and how well our patented reaction vessels perform. Then we have all that is needed to design, build, test, sell, install, maintain and even beneficially operate a chemical plant. The profitability horizon of this business and eventually the new chemical industry is a decade away. We seek a venture partner to help us bootstrap up and open the door to a new industry. In summary; to paraphrase Tom Lehrer, ‘we do well by doing good.’
• The coal plants have better market support for their captured carbon dioxide.
• Nuclear power plant operators offset the costs of cooling pond maintenance.
• Captured carbon does not need to be stored in deep wells reducing leakage through ‘fracking.’
• Carbon dioxide is reduced without the need for expensive and easily poisoned catalysts.
• Even endothermic reactions with carbon dioxide ‘work’ because the needed reaction energy is drawn from the effects of gamma radiation on the gases. Therefore our process is ‘green’ and does not have a carbon footprint.
• The gamma radiation fields are ‘monetized’ and become saleable quantities as are the fuel rod assemblies themselves.
