FCStone Carbon Teams Up with Argonne National Laboratory to Quantify Biofuel Carbon Credit Reduction
FCStone Carbon, LLC, a subsidiary of major commodity risk management firm FCStone Group, Inc, and the US Department of Energy's Argonne National Laboratory announced that they are working together to quantify biofuel carbon credit reductions and trading in the marketplace.
Argonne acts as a certified third party agency, quantifying how many carbon credits a facility can offer by using its total energy cycle software model, GREET (Greenhouse gases, Regulated Emissions and Energy use in Transportation). First released in 1996 and sponsored by the U.S. Department of Energy's Office of Energy and Renewable Energy (EERE), the GREET model currently serves more than 2,000 users.
"Argonne is probably the most credible entity in the industry for establishing methodologies and protocols on carbon credits for greenhouse gas emissions," said Dick Lindgren, president of FCStone Carbon. "As Argonne implements this technology into the biofuels industry, credibility will rise and the green energy market will expand." FCStone Carbon, LLC has assumed funding of this project for the next three years.
"This is a great opportunity for Argonne
to bring its research examining carbon reductions of various technologies into the carbon trading market by working with FCStone
Carbon LLC. It is exciting to see research results driving business practices that will help reduce pollution," said Dr. Michael Wang, project manager at Argonne.
Last year more than $28 billion in carbon credits was traded worldwide. "As protocols and methodologies are established in the biofuel industry, biofuel plants and facilities will have the opportunity to contribute many new carbon credits to this burgeoning market," said Lindgren.
The United States does not currently adhere to the Kyoto Protocols, which set quotas for the European Climate Exchange. But an increasing number of cities, states and regions in the U.S. have initiated carbon credit registrations and exchanges on a voluntary basis. "Our opinion is that a national cap and trade system will be initiated. We expect that by 2010 we should see a lot more direction from a legislative or regulatory standpoint," said Lindgren.
Advances such as the GREET model are helping to standardize the carbon credit trade in the United States. The GREET model was initially developed by the EERE to assist in reducing the nation's dependence on oil, lowering greenhouse gas emissions and urban air pollutants, and boosting energy efficiency.
More Alternative Energy Articles
Department of Energy to Train 75,000 Solar Workers
First Hybrid-Flywheel Energy Storage Plant in Europe announced in Midlands
World's Largest Solar Thermal Power Project at Ivanpah Achieves Commercial Operation
NTU Scientists Make Breakthrough Solar Technology
Wireless Devices Go Battery-Free Using "Ambient Backscatter" from TV and Cellular Transmissions
Harvesting Electricity from the Greenhouse Gas Carbon Dioxide
Maine Project Launches First Grid-Connected Offshore Wind Turbine in the U.S.
University Researcher Making Rechargeable Batteries with Layered Nanomaterials
Vestas 8 MW Offshore Wind Turbine Could Power Up To 3200 Homes
Urban Green Energy and GE Unveil the Sanya Skypump, an Electric-Vehicle Charging Station Equipped with Wind and Solar Power
even more articles...
Suggest an Article for Green Progress