NEW YORK--(BUSINESS WIRE)--Green Holdings Enlow, Inc., a greenhouse gas abatement company and a wholly owned subsidiary of Green Holdings Corporation, announced today that it has entered into an agreement with CONSOL Energy Inc. (NYSE: CNX) to develop the largest ventilation air methane (VAM) emission abatement project in the United States.
Estimated to be operational in the second half of 2010, the VAM abatement equipment will be installed at CONSOL Energy’s Enlow Fork Mine, an active underground coal mine located in Washington and Greene counties, Pennsylvania, generating about 10 million tons of coal a year. The project is designed to capture and destroy VAM emissions equivalent to eliminating of 190,000 metric tons of carbon dioxide (tCO2e) emissions a year. Globally, methane emissions from coal mines, a greenhouse gas 21 times more potent than CO2, amount to approximately 300 million tCO2e each year.
“We are pleased to be working with CONSOL Energy, the largest underground coal mine owner and operator in the United States on this important project,” stated Jerry Gureghian, Green Holdings Corporation Chief Executive Officer. “Green Holdings Corporation has a focused, high growth strategy with significant projects under development in the United States and the People’s Republic of China – the two largest sources of VAM emissions in the world,” advised Mr. Gureghian.
“If the United States intends to reduce greenhouse gas emissions, it will have to be addressed on a broad front dealing with many different sources of GHGs,” said Steven Winberg, Vice President, Research and Development, for CONSOL Energy. “We already have a large coalbed methane production business that removes methane from coal seams before mining, producing a valuable fuel. With this agreement, we will deal with methane that is released from a coal seam during the mining process.” Winberg said the agreement allows CONSOL to move from its current small scale ventilation air methane capture program to a commercial scale effort that, if successful, can be applied at many of the company’s existing underground mines.
The project at Enlow Fork Mine is the first of many VAM abatement undertakings for Green Holdings Corporation, which has positioned itself to capitalize on the strong and growing market for carbon offsets to be generated by the projects.
About Green Holdings Corporation and Green Holdings Enlow, Inc.
Green Holdings Corporation is a vertically integrated greenhouse gas emission abatement company utilizing proven technologies to implement projects under various greenhouse gas initiatives. Currently, the Company is focused on developing projects that reduce or abate ventilation air methane (VAM) emissions from underground coal mines, resulting in significant carbon offsets that will be monetized on a growing international market. Green Holdings Enlow, Inc. is a wholly owned subsidiary of Green Holdings Corporation and is developing the largest coal mine methane abatement project in the United States for CONSOL Energy. For more information visit www.greenholdings.com
About CONSOL Energy Inc.
CONSOL Energy Inc., a high-Btu bituminous coal and natural gas company, is a member of the Standard & Poor's 500 Equity Index and the Fortune 500. It has 15 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. It is also a majority owner of CNX Gas Corporation, a leading Appalachian gas producer, with proved reserves of more than 1.4 trillion cubic feet. Additional information about CONSOL Energy can be found at its web site: www.consolenergy.com.