This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Skyonic Raises $9 Million And Signs Northwater Capital, ConocoPhillips, BP And PVS As New Investors

Stocks in this article: BP COP

AUSTIN, Texas, June 26, 2012 /PRNewswire/ -- Skyonic Corporation finalized the first $9 million portion of a committed $35 million investment into the company, intended to pilot a first-of-its-kind carbon capture and utilization plant in the U.S. that will demonstrate the viability of capturing and reusing carbon dioxide (CO2) as a profitable commercial-scale venture. Northwater Capital Management, ConocoPhillips (NYSE: COP), BP (NYSE: BP), and PVS Chemicals are participating in the Series C funding, joining existing investors Carl Berg and Zachry Corporation. These funds will be used to support construction costs for the plant's groundbreaking this summer, advancement of its global IP portfolio of green carbon chemistry solutions, and other R&D and operations purposes.

"Northwater Capital Management is excited to support Skyonic's efforts in carbon mineralization," said Frank Egan, Managing Director at Northwater. "Skyonic's green carbon chemistry technologies present a cost-effective solution to a problem that many industries have struggled with for years: emissions. We're excited to work with them in this first step towards a cleaner environment."

Located at Capitol Aggregates, Inc., in San Antonio, Texas, the facility will capture 83,000 short tons and offset an additional 220,000 short tons of CO2 annually once it is operational in 2014. Skyonic's electrolytic carbon capture technology, SkyMine®, will selectively remove CO2, acid gases, and heavy metals emitted from the cement plant's flue gas streams and recycle it into hydrochloric acid, sodium bicarbonate and other byproducts. Skyonic estimates the Capitol SkyMine plant will capture CO2 at a substantially lower cost than competitive technologies. Utilities for the plant will be provided by the City of San Antonio.

"PVS is pleased to be working with Skyonic, who share a strong commitment to minimize the environmental impact of industry," said Scott Trussell President at PVS Chloralkali, Inc. "Skyonic's green carbon capture technologies present a scalable cost-effective solution for industry to reduce emissions."

SkyMine® is a profitable carbonate mineralization technology that produces beneficial re‐use products in a safe, efficient and profitable manner. The process achieves this goal using low-cost chemical inputs, producing high-value chemical outputs and operating at energy-efficient conditions. A major differentiator is that SkyMine® captures CO2 as a stable solid, making it easy and safe for storage.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs