InnovaTek Signs Development Agreement for Hydrogen Technology
RICHLAND, WA - InnovaTek has signed a joint development agreement with Chevron Technology Ventures LLC (CTV), a subsidiary of Chevron Corp., for the development of fuel processing technology for generating hydrogen from biodiesel and other liquid fuels. The technology is intended for use in refueling stations for fuel cell and hydrogen vehicles.
Under the agreement, CTV will contribute to the development of a low-cost approach for scaling up InnovaTek’s InnovaGen® fuel processing technology for commercial hydrogen production and purification. InnovaTek will team with industry leaders in materials technology and manufacturing to achieve the cost, operational and efficiency goals for the system.
“Because of the concern about global climate change and the drive to diversify fuel sources, there has been accelerated interest in the use of hydrogen as an alternative renewable fuel,” said Patricia Irving, InnovaTek founder and CEO. “InnovaTek will help lead the transition to a sustainable future through our commitment to advanced energy technology. The process we develop under this joint agreement with Chevron will use multiple feedstock fuels, including renewable oils such as biodiesel, to cost effectively produce hydrogen for vehicles.”
Biodiesel is a clean burning alternative fuel, produced from domestic, renewable resources. The fuel can be burned directly in combustion engines, but for cleaner, more efficient electrical power production, biodiesel can be reformed to produce hydrogen for a fuel cell.
Dr. Jeffrey Harrison, InnovaTek Board Member, said that InnovaTek’s ability to reduce operating expenses and lower capital costs of hydrogen production is the result of utilizing InnovaTek’s core microchannel and catalyst technology. “The smaller system size, reduced catalyst volume, and more efficient process that is realized with InnovaTek’s technology represents another significant step in moving the hydrogen economy from science to commercial reality,” he said.
About InnovaTek, Inc.
InnovaTek, Inc. creates technologies for environmental safety and sustainable power. InnovaTek is a leader in portable fuel processing technology and advanced catalysts for hydrogen production from petroleum and renewable fuels. For more information, visit www.tekkie.com.
About Chevron Technology Ventures
Chevron Technology Ventures LLC, a subsidiary of Chevron Corp., identifies, develops, and commercializes emerging technologies and new energy systems including hydrogen-related technologies, advanced energy storage technologies, renewable energy and nanotechnology.