Wednesday, May 28, 2008

Cincinnati Bulk Terminals lease could extend to 2036, bring clean coal

Cincinnati City Council is considering an ordinance that could extend the City's lease with Cincinnati Bulk Terminals until 2036.

UK-based Vertus Technologies, Ltd. plans to use the Queensgate site to ship more than 100,000 tons of cleaner, processed coal each year.

Earlier this month, Vertus signed a 25-year deal with Cincinnati Bulk Terminals to help the company handle the raw coal and then to ship the clean coal fuels throughout the region.

The company's technology heats coal without oxygen to remove 99 percent of its sulfur content, and removes and recycles 99 percent of its mercury content.

Ohio's high-sulfur coal, which produces heavy sulfur dioxide emissions when burned, has historically put the state at an economic disadvantage.

The operation will require the construction of one or more new warehouse facilities of at least 12,000 square feet on the site.

The company plans to start with seven employees and to grow to between 25 and 30 people within the next five years.

The Queensgate site will be Vertus' first U.S production facility.

Cincinnati Bulk Terminals' lease does not expire until 2011.

They have leased the property (BIRD'S EYE) since 1988 and have been operating multi-modal coal facilities since 1882.

The ordinance to extend the lease has not been placed on council's Economic Development Committee agenda.

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