Signing the shareholders agreement, foreground Murray Jackson, CEO Genesis Energy, middle, Chris Baker, Chairman of the Coal Association of New Zealand. Looking on Rob Whitney, CEO CRL Energy, and Alan Broome, Chairman of CRL Energy. Photo: Louise Thomas.

CRL Energy, New Zealand’s leading research company of low-emission coal technologies, today announced the purchase of a 50 percent stake in its company by Genesis Energy.  

All parties see the transaction as a significant boost for research and development of low-emission coal technologies in New Zealand; these technologies which include high efficiency coal gasification, carbon capture and storage, and hydrogen manufacture, will provide New Zealand with the option to make sustainable, low-emission power and vehicle fuel from the country’s vast coal reserves.

CRL Energy Chairman Alan Broome said that Genesis Energy’s investment was a vote of confidence in the organisation led by Chief Executive Rob Whitney, and reflected the world-class calibre of its researchers and research programme.

“The involvement of Genesis Energy mea ns we can advance our coal research programmes along the pathway to eventual commercial application.

“ New Zealand , through CRL Energy, has the opportunity to make a significant contribution to international research into the advanced coal and hydrogen technologies required to combat global climate change,” says Mr Broome.

Genesis Energy has purchased the 50 percent shareholding in CRL Energy from the National Institute of Water & Atmospheric Research (NIWA).

Genesis Energy Chief Executive Murray Jackson said the investment in CRL Energy is part of his company’s commitment to developing sustainable energy solutions for tomorrow.

“As the largest thermal generator of electricity in the country, we need to be able to address the effects our operations have on the environment. That’s why we are investing in CRL Energy - to promote the development of new thermal power technologies with fewer emissions and greater efficiency.