MIAMI, FL / ACCESSWIRE / July 23, 2021 / Climate change and environmental sustainability have become major issues of social concern. In order to reduce carbon emissions, many industries are looking for innovative opportunities and investments in hydrogen technologies. Could this be the solution to the global energy market's transition to a low-carbon economy? For one major player in the mining industry, eCombustible has drastically improved conditions.
Following one of the largest mine operators in the world's commitment to the Paris Agreement, the company recognized the need for a more sustainable future, and looked for ways to find cleaner energy sources that could support its operations.
In this pursuit, a partnership was formed with eCombustible to replace the fuel used in its boilers, power-generation facilities, and haul trucks with eCombustible fuel-a cutting-edge, carbon-free, hydrogen-based fuel that outperforms coal, natural gas and oil. After a six-month exhaustive, multi-trip evaluation and vetting process, the client and eCombustible worked cohesively and began the journey of transforming the mining company into a more efficient and greener operation.
Success with eCombustible
Through the use of eCombustible fuel, the company has the potential to realize $320 million in savings over ten years, and has made significant progress against its goals of realizing a 30% reduction in emissions by 2030 and zero emissions by 2050. eCombustible projects an additional $160 million in fuel savings over the next decade (2030), with a plan to roll out eCombustible to all the company's operations worldwide.
Furthering the sustainability of this innovative partnership, this industrial-scale pilot will be supplied with fuel through the new electricity contracts from 100% renewable sources. The production of eCombustible with green hydrogen will aid in the company achieving its overall objective of creating zero emissions in the hot water production process and completely changing their energy landscape for the best.
eCombustible and the Mining Industry
With the goal of reducing carbon emissions, hydrogen is making a comeback when it comes to energy, and a fuel like eCombustible has the opportunity to improve the mining industry as a whole.
As mining companies face mounting social and economic pressure, they should go beyond what is demanded by law and the applicable industry environmental, social, and other standards. Achieving a 'social license' for their operations may mean accomplishing more than legally required to avoid being socially and economically pressured by the society in which they operate.
Sustainability-linked loans allow a borrower to reduce its interest rates over time after achieving certain green goals. With mine projects under increasing pressure from equity investors to adhere to environmental, social, and governance standards, eCombustible could make a difference in complying with these measures. eCombustible offers a potential solution to decreasing operational costs of remote mines-not to mention backup fuel stock and reduced strain on ventilation systems-while also providing incentives for renewable energy investment.
It's no secret that to fight the climate crisis, deep decarbonization is needed across all sectors, especially the mining industry. Developments in the eCombustible fuel system offer a robust solution to replace fossil fuels with a zero-emission technology that helps improve worker safety and the environment, while also supporting a company's financial future.
Contact: Andrew Mitchell, media@cambridgeglobal.com
SOURCE: eCombustible
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