Whats does Heavy Oil Extraction have in Common with Solar Thermal and PV Power Generation?

What is the attraction to solar alternative energy technologies for the global oil industry? British Betroleum has their BP Solar division,  Chevron has an Alternative Energy division and recently Hybrid Energy Holdings has decided to move into solar thermal, PV and heavy oil extraction.

Which one of these 3 energy technologies is not a plus for the environment?

Certainly the global fossil fuel industry when managed effectively can provide boatloads of cash sufficient to diversify into just about any area you could imagine. One could argue that as an oil company it goes a long way to balance out public relations if you have a high profile in the renewable energy sector. Or maybe it is that Oil companies executives, realizing that oil reserves are limited and dwindling are searching to protect the future of their companies?

What British Petroleum  says about BP Solar.

With over 35 years of experience and installations in over 160 countries, BP Solar is one of the world’s largest solar companies. BP, one of the world’s largest integrated energy companies, is looking beyond traditional energy choices. To help conserve the earth’s precious resources, we’re focusing on new, cleaner technologies – including solar.

What Chevron says about it’s Solar Division

Chevron Energy Solutions (CES), a Chevron subsidiary, is the nation’s largest installer of solar energy systems for education institutions. Over the past decade, the company has developed hundreds of projects involving energy efficiency and renewable power for education, government and business customers in the United States. In 2009, Chevron Energy Solutions was named by Fast Company magazine as one of “The World’s 50 Most Innovative Companies” and one of the top five “Most Innovative Clean Energy Companies.”

The latest move to fund solar energy technology with Oil money

Hybrid Energy Holdings, Inc. has announced that its new management has made progress in its operational restructuring and resource deployment to Alternative Energy Sources, including PV and Solar Thermal Market and the Heavy Oil Extraction markets.

Earlier this month the Company announced that it planned to profitably divest its energy production assets as part of this transition and negotiations are presently underway with respect to the restructuring and/or selling of the Natural Gas Assets the Company acquired in early 2010. Based on improved production performance resulting from efficiencies instituted by the Company, it is anticipated that the value of its holdings will provide the needed capital base to provide the necessary resources to advance its Alternative Energy initiatives.

The Company recently announced the signing of a Letter of Intent (LOI) with Visalo Energy, Inc. to acquire their Heavy Oil Extraction Technology, paving the way to enter the expanding $155 billion per year Heavy Oil Industry; and has since reported Visalo’s August 10th patent filing for the heavy-oil extraction technology. The proprietary Visalo technology dramatically increases recovery rates to 90% or higher at substantially lower entry costs in the heavy oil production industry. The Company will earn revenues from the extraction and recovery of ‘heavy oil’ reserves from existing wells not in active production.

Hybrid Energy believes PV and Solar Thermal Market, particularly for residential and commercial use, is a high growth sector promising to become a significant and vital energy option primed for strong sales growth of the company’s holdings and technologies. In its recent report ‘United States PV Market 2010,’ published July 26th, Solarbuzz forecasts the market will grow around ten times the size of the 2009 market, an average annual growth rate of 30% per annum.

The Company’s foundation-building Phase I strategic plan called for traditional and proven fuel production acquisitions to establish revenues and assets. Building on its success, the Company launched Phase II of its growth strategy and began its transition to alternative and renewable energy and technology revenue models.

The Heavy Oil Extraction initiative, together with its Solar Energy Acquisition and Development Projects are anticipated to increase the Company’s shareholder value.

The company is assessing the acquisition of several new assets, operations and technologies and encourages further technology submittals and developmental joint ventures through the Merger & Acquisition portal at www.HybridEnergyHoldings.com.

Based on the recent changes, the Company is completing reflective disclosure statements as part of its ongoing disclosure practices to provide updated information to all shareholders.

It is also anticipated that further announcements regarding progress of its New Energy initiatives, management, re-branding, office relocation and marketing presence to more accurately reflect its refocused operations.

The Company maintains its Website at: www.HybridEnergyHoldings.com

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Posted by Tracey A. Smith on Sep 30 2010. Filed under Climate Change, Concentrated PV, Concentrated Solar, Renewable Energy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry