Alternative Petroleum Technologies (APT), a Reno, Nevada-based environmental technology company, received a funding of undisclosed amount.
The new funding was provided by two funds managed by West Mountain, an Atlanta-based investment firm.
The company will use the funds to complete and operate the diesel liquid catalyst pilot plant and further optimize the solid catalyst plant over the coming months.
Alternative Petroleum Technologies develops proprietary oxidative desulfurization technology (ODS) that removes sulfur from petroleum products by using proprietary catalysts to combine oxygen with the sulfur in the fuel. The process is accomplished at ambient temperatures and pressures in a typical factory setting, in comparison to the current industry technology that uses hydrogen at temperatures ranging from 300 – 400° C and pressures ranging from 30 to 130 atmospheres. These conditions require a “hydrotreater” at a refinery.
The APT ODS plants have lower impact on the environment and can be placed at locations other than refineries – for example at fuel distributors, ports and trans-fuel locations.
On December 2, the company completed the initial commissioning and test operations of its Solid Oxidative Desulfurization (SCOD) plant.
FinSMEs
01/01/2017