Global energy giant BP and the Chinese Academy of Sciences (CAS) today agreed to establish the Clean Energy Commercialization Center (CECC) joint venture in Shanghai, jointly investing 500 million yuan to commercialize Chinese clean energy technologies.
Subject to final government approvals, the CECC joint venture is expected to start in early 2009. The center will draw on the expertise and experience of both partners to integrate individual energy-related technologies – such as coal gasification and conversion, carbon capture and storage, coal bed methane and underground gasification.
"Deploying technologies to exploit coal resources more effectively and efficiently is one of the greatest challenges facing China," said Li Jinghai, vice-president, CAS.
"Innovative solutions will bring positive impact not only to China, but also to the global economy and also supports the goal of energy security and environmental stewardship."