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UOP and USC Announce Partnership Agreement December 11, 2007 Today, University of Southern California announced a landmark licensing agreement enabling UOP, a Honeywell company, and USC to collaboratively develop an improved methanol and dimethyl ether production process and a large-scale industrial recycling of carbon dioxide generating methanol and tradable carbon credits at the same time.
This agreement could have a significant impact on global warming, by making available future clean energy technologies to the UOP roster of clients, including major petroleum refining companies. Moreover, this agreement could pave the way towards the practical implementation of the "Methanol Economyž, a concept that involves the production and use of methanol on a massive scale.
Nobel Laureate, Professor George A. Olah, Director of the Loker Hydrocarbon Research Institute at USC, his colleague, Professor G.K. Surya Prakash, and their team of researchers have developed fundamental chemistry that could aid in the improved production of methanol and/or dimethyl ether from a variety of sources such as natural gas, coal, including carbon dioxide. Carbon dioxide, a byproduct of combustion of any carbon containing material, is a greenhouse gas contributing to global warming. However, based on the chemistry developed at USC and the collaborative efforts of UOP and USC to develop industrial processes now underway, CO2 could become a major feedstock for alternative fuels.
All along, our goal has been to foster a long-term, collaborative relationship with an industrial partner who understood our motivations, and could realize our vision of making maximum societal impact with the science developed at USC. Partnering with UOP was a strategic decision, given UOP's proven track record, roster of clients, and strong management team. We are working with UOP now, and in the future, to improve the technology and bring methanol to the mainstream, with the additional goal of making significant reductions in manmade global carbon dioxide emissions.
Ed Beres was the licensing team member who facilitated the deal.
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