BP, Chinese academy to set up clean energy center

BP and the Chinese Academy of Sciences (CAS) held a ceremony in Shanghai to celebrate the signing of a Memorandum of Understanding (MOU), announcing their intent to establish the Clean Energy Commercialization Centre (CECC). CECC aims to accelerate the development in China of clean coal conversion technologies and the creation of associated value chain investment opportunities through the commercialization of key technologies and coordinated management of large-scale demonstration projects which primarily use coal as feedstock for fuel production, chemicals manufacturing and power generation. Iain Conn, BP managing director and chief executive, refining and marketing said: “Given the increasingly important role China plays in the global economy, China’s choice and efforts in promoting new and cleaner energy applications will have a profound impact on both the future of the Chinese economy and the global energy market. (August 2, 2007)