By St. Louis Business Journal

Emersonâ¿¿s new Industrial Energy Group plans to convert huge power plants used in manufacturing facilities, refineries and foundries into bio-mass-burning hybrids to produce the needed energy to run these giant plants more cheaply and cleanly.

Emerson (NYSE: EMR) said today it expects this to become a $2 billion market due to higher prices for fossil fuels and new global emissions mandates.

Emerson announced its ⿿Smart Energy Initiative,⿝ today in Nashville. Emerson said it⿿s developed a patent-pending technology for calculating the actual BTU (a unit of energy called the British thermal unit) values of fuel sources, which isn⿿t always consistent with alternative fuels that can often burn hotter or cooler than coal or natural gas.

⿿Our True BTU Combustion Control platform reinvents the current model of combustion management, which has been around since the 1920s and is still in practice today,⿝ said Chip Rennie, director of Industrial Energy for Emerson.

Last week, Emersonâ¿¿s board approved spending $100 million over the next two years to expand and upgrade several office and manufacturing facilities across the globe.

The St. Louis-based company, which is led by Emerson Chairman and CEO David Farr, has 134,000 employees and specializes in network power, process management, industrial automation, climate technologies, and tools and storage businesses. It reported fiscal 2010 sales of $21 billion. Itâ¿¿s scheduled to report its fiscal 2011 fourth-quarter and full-year results on Nov. 1.

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