Siluria Technologies Bold Venture Into Replacing Oil With Natural Gas.
Siluria Technologies has some very ambitious goals in mind. They wish to try and turn natural gas into gasoline rather then the world having to continue relying on oil resources. The use of natural gas could cut the prices that are currently in use thanks to oil in half. Not only that, but the technology could make the creation of plastics far more cheaper. Currently each barrel of oil cost around $100, while natural gas sells in the U.S for the amount of $20 a barrel and has a better chance at maintaining its cheaper price than oil can for quite a while.
Studies done on natural gases have shown the estimation drawn up has showed it has two and five times more abundant than oil. With current technologies available Like hydrofracking can lead to a escalation of productions from various sources such as Marcellus Shale in the most eastern part of the United States. Another interesting fact is how natural gas is evenly scattered around the globe than petroleum. Many parts of not only the United States, but China, Europe and South America hold a great amount of supplies of natural gases. By having gasoline and other chemicals rely more on natural gas rather than petroleum could help the current struggle between country for oil.
Siluria is a Silicon Valley Startup that has been funding with over $63.5 million in venture, is both simple and daring. The goal is to create a process that effectively uses natural gases, instead of relying on petrol, to create ethylene and gasoline. The true challenge will be the chemistry behind it. While possible to use this as an stimulus for products created from methane, but an effective industrial process has escaped chemical engineers for decades.
Siliuria believes it has manage to find a way to do so where others have failed. They have been rapidly testing,creating and screening potential stimulation. Te company has built a system that can quickly synthesize hundreds upon hundreds of differently stimulus at a time and then test if it can be used to change methane into ethylene.