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Madison
Power Corp. ("Madison")
is a project developer specializing in the development
and financing of gasification projects that convert coal
or oil refinery waste streams into high value products
such as electricity, natural gas, and hydrogen. Madison
has teamed up with a large equity fund to provide development
and equity funding for each project.
Projects
Under Development
Since
early 2004, Madison has been developing gasification projects
in Illinois, California, Louisiana, and Michigan. After
completing feasibility studies for a 600 MW integrated
gasification combined cycle (IGCC) project and a 100 million
standard cubic feet per day substitute natural gas (SNG)
project, the State of Illinois awarded Madison and its
development team $5 million to begin detailed engineering
for both projects. ConocoPhillips was selected to provide
its E-Gas gasification technology and the Fluor Corporation
was selected to serve as the turnkey engineering, procurement,
and construction contractor. Both projects will operate
on a blend of high sulfur No. 6 Illinois Coal and fuel
grade (high sulfur) petroleum coke supplied by oil refineries
throughout the Midwest.
Madison
is also working with a large oil company in California
to develop a gasification project that will convert a
refinery waste stream into clean syngas and CO2.
The syngas will be used to displace natural gas consumed
by several steam boilers used for thermally-enhanced heavy
oil recovery operations while the CO2
will be used to support lighter oil recovery operations.
In
Louisiana, Madison is working with a large oil refinery
to develop a gasification project that will convert a
refinery waste stream into hydrogen and electricity. In
addition, CO2 produced by the syngas
conditioning process will be sold to an oil company to
support its enhanced oil recovery operation on the Gulf
Coast.
And
in Michigan, Madison is working with the owner of a combined
cycle plant to convert a portion of the plant's capacity
from natural gas to syngas generated with a mix of western
coal and petroleum coke.
Madison's
Principals
The
experience of Madison's Principals give the company a
competitive advantage in quickly selecting those project
development opportunities with the greatest likelihood
of success. Madison's Principals include:
- Edward
Chapman - Chief Financial Officer: Mr. Chapman has
over 25 years of experience in evaluating and financing
power generation projects in the United States, often
creating the business and financial structures necessary
to complete the financing. Prior to joining Madison
Power, Mr. Chapman spent 16 years as an investment banker
with Goldman Sachs, and earlier, with Salomon Brothers,
where he was responsible for all aspects of financing
and client development for independent power producers
and traditional electric utilities. Mr. Chapman holds
a JD, a MBA, and a BS Degree in electrical engineering.
- Conrad
Anderson - President: Mr. Anderson has over 25 years
of experience in the power industry primarily in the
front-end development of power generation projects with
a focus on each project's conceptual design, estimated
costs and performance, and the commercial terms in critical
project agreements needed for non-recourse project financing.
Since the early 1980s, Mr. Anderson has evaluated the
commercial and technical aspects of over 75 power generation
projects and participated in closing over 30 transactions.
Mr. Anderson holds a MS Degree in applied mechanics
and a BS Degree in mechanical engineering.
For
more information contact: info@madisonpowercorp.com
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