Hillcrest Energy Technologies. (CSE: HEAT)
From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future.
A report finds that highly efficient, low-emission coal plants and carbon capture and storage (CCS) technology could reduce CO2 emissions by up to 1.412 billion tons annually – equivalent to removing 310 million to 560 million SUVs from global roads. Replacing coal-fired power plants with those using pulverized coal combustion technology could inject over $1.5 trillion into the global economy, compared to an additional $2.7 trillion cost of replacing coal with alternative energy sources due to insufficient output.
Coal remains crucial for key industries such as steel (70% of production), cement (90%), and aluminum (60%), while also producing cost-effective hydrogen and supplying critical minerals like copper, cobalt, and nickel for renewable energy and battery storage.
The authors state, “While acknowledging the global shift towards decarbonized energy systems, coal still accounts for 36% of global electricity generation. Its role as a resilient, reliable, and dependable energy source has been proven globally, including in Europe and North America.”
The report notes that various forms of coal, from thermal coal to lignite and metallurgical coal, remain valuable assets in addressing global challenges. The socio-economic impact of phasing out all forms of coal could create significant economic strain.
This report challenges the idea of prematurely phasing out coal in favor of solely renewable energy sources. Instead, it explores how advanced coal technologies, carefully integrated with responsible energy policies and investment, can be key to achieving our future net-zero emissions goals.
The authors assert that advanced coal technologies offer a viable solution for producing clean and efficient electricity while also capturing emissions to produce valuable byproducts. With increased innovation and investment, the value proposition of coal is becoming stronger.
Paul Baruya, Director of Strategy and Sustainability at FutureCoal, stated: “This report challenges outdated perceptions of coal, reminding us that it is a versatile resource crucial to modern life, industrial development, and economic progress. Strategic investment in advanced coal technologies, given coal’s high-value applications, ensures viable solutions for the global economy.”
