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.