The MVTG ERC tech is going to be awesome and shock the world. The delays in the pilot plant the last 2 years were made because MVTG R&D kept improving the design by huge leaps and bounds that required redesigning the pilot plant. One of those was a 1000% increase in efficiency which I am 100% sure is now in one of the 5-6 new patent applications MVTG spend a lot of cash to file for world wide earlier this year. One of the improvements was a huge reduction in hardware, hardware cost, real estate foot print, and operating power, that increased the formic acid product purity from 20% to commercial grade (sellable right out of the ERC reactor) >80% formate or formic acid.
They also redesigned the reactor to allow them to rapidly switch out the catalytic electrodes, to run the pilot pilot making other products besides just formic acid or formates.
Two of those we now know about now are Syn Gas, the holy grail of the chemical industry, and formaldehyde.
The current market annually for these are:
Formic acid: $1 billion dollars/yr
Syn gas (H2 and CO): $30 billion dollars/year
Formaldehyde (used to make building materials): $100 billion dollars/yr
Then we have fuel cells and energy storage markets for the combination units ..... and those two can grow the formic acid market to $100 billion dollar/year market in 10-20 years replacing fossil fuels if it is widely adopted.
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