Chaucer Energy Limited (ASX:CHA)
Chaucer Energy Limited (ASX:CHA) is an Australian resources company specializing in the development and execution of energy projects utilising the technology of In-Situ Gasification (ISG) to produce gas suitable for conversion into low emission electricity and other chemical products.
ISG technology has a long history, especially in the Former Soviet Union (FSU).Over the last 30 years, a significant number of demonstrations of the technology have been undertaken in various countries, including Australia.The current challenge is to convert the knowledge from past experience into the development of a commercially profitable project. Chaucer Energy has planned a technical and financial strategy to achieve this goal.
The Company is initially focussed on using stranded coal resources at a number of locations in Chile to develop commercial power generation projects.
After completing a detailed review of all coal deposits in Chile, Chaucer Energy has applied for and been granted Mining Exploration Concessions over three potential project areas in the south of the Country.
The initial project focus will be on the Concessions granted near the town of Maullin approximately 100km from the city of Puerto Montt, with connections by road and to the electricity grid. The Company plans the staged development of a 100MW power station, with the objective of initiating gas production and power generation in 2022/23.