Periodic Reporting for period 1 - Mustang-Pro (A Multi-species tracking analyser for natural gas process refinement and optimisation)
Période du rapport: 2015-05-01 au 2015-10-31
The objective of this innovation project is to bring to technological maturity and market readiness an innovative, cost effective, natural gas analyser with the potential to improve the energy efficiency of natural gas processing facilities by up to 20%. In so doing, we aim to save the EU gas processing industry €1.3 billion p.a. help Europe meet its demanding CO2 reduction targets and generate a market opportunity worth €51.4 million, creating 54 jobs.
The immediate stage after this Phase 1 project would be to undertake a Phase 2 project. The outcomes from a successful Phase 2 project, whose objectives would be to commercialise Mustang-Pro, would include:
a) The refinement of the highly novel Mustang-PRO proof of concept at Technology Readiness Level, (TRL) 6 for which a Patent has been granted, to accurately, rapidly (<60s) and continually sweep the wavelength (20nm) of a low cost laser diode source (TDL).Thereby creating a cost effective, wideband, tuneable diode laser absorption spectroscopy TDLAS analyser boasting a full range of contaminant measurement all to class leading accuracy in a single unit.
b) Achieve a component low cost manufacturing method to minimise system cost to the industry.
c) To achieve a market penetration of 7.5% (EU) and 3% (globally), 7 years post project, generating a total revenue of €51m and a net profit (EBITDA) of €20.9m . Create 54 new jobs across our European offices and supply chains.
d) To save the gas industry up to 20% of their processing costs, €97.5m p.a. (EU) and €507m p.a. (globally).
This project will develop something new for Europe that addresses both European and global challenges. In particular, with natural gas playing an increasing role in the overall energy mix, we will help Europe achieve its demanding 2020 targets for the reduction of energy consumption, greenhouse gas emissions and improve energy efficiency. The project will continue to grow in strategic importance as more shale gas reserves are explored and extracted, due to their inherent compositional variability. The main driver is to reduce gas processing costs, energy consumption, and emissions whilst ensuring quality of output. Our novel product will increase efficiency, assure quality and offer savings of €97.5m p.a. to European gas producers (at just 7.5% market penetration) and the potential for €18.2bm of total savings on a global scale. This will directly contribute to the competitiveness and sustainability of Europe’s economy.