Linc Energy pushes into China with joint venture

Australia’s Linc Energy said it would partner with a subsidiary of Hong Kong-listed solar energy developer Golden Concord Holdings (GCH) to use Linc’s UCG-to-GTL process in China. Linc produces the world’s only synthetic diesel fuel derived from underground coal gasification (UCG), which is then converted from gas-to-liquids (GTL) at its demonstration facility at Chinchilla in Queensland. Linc will own 33% of the joint venture, while GCH will hold the remaining stake.Linc CEO Peter Bond said the company had been looking for a partner in China for many months.”China’s insatiable appetite for liquid fuels and gas presents Linc Energy and GCH with a unique opportunity to capitalize on this world changing market,” Bond said.”Linc Energy is committed to commercializing UCG to GTL on a significant scale, and this most recent deal with GCH in China is the first stepping stone of many commercial opportunities I believe you will see Linc Energy produce over the months ahead.” (April 17, 2012)