Vessels Coal Gas, Inc. (VCG) is a Denver-based Colorado corporation formed in 2003 to acquire, develop, and operate Mine Methane Capture (MMC) projects in abandoned and active coal mines in the USA. VCG currently controls two abandoned MMC projects, one with Oxbow Mining LLC and Gunnison Energy in Colorado’s Piceance Basin near Aspen Colorado, and one with Arcelor Mittal in Central Pennsylvania.
VCG’s business is to own, build, and operate methane emission abatement projects. Revenue from operations comes primarily from the generation of California Air Resource Board Offset Credits (ARBOCs). This is done by destroying venting methane before it escapes to the atmosphere and by measuring and recording the destruction. The Company will destroy methane emissions by electricity generation and injection into natural gas pipelines if positive economic incentives are sufficient for development.
VCG formed North Fork Energy LLC with Oxbow Mining LLC and Gunnison Energy Corporation for MMC from the coal mines under the Oxbow Mining LLC mining permit. North Fork Energy is generating ARBOCs for sale in the California Cap and Trade System. North Fork has sold offsets to Xcel Energy, and an international energy corporation.
VCG, Oxbow and Gunnison entered into an agreement with Aspen Skiing Company and others to own, install, and operate an electricity generating facility to sell 3 Mega Watts of electricity to Holy Cross Energy, an electricity provider in Central Colorado under a 15 year power purchase agreement.
VCG is converting its Pennsylvania operation to generation of ARBOCs and away from gas pipeline sales.
VCG was formed in 2003 as a subsidiary corporation of Energy Finance Ltd. (EFL) based in Dublin, Ireland. EFL was formed in 1995 to specialize in the extraction of methane from coal mines. That same year EFL was a seed investor in Coalgas Plc; later Alkane Plc. (ALK). In 1999 through 2000 ALK brought on production 3 abandoned mine sites commercially producing mine methane. In 2000 ALK obtained a listing on the London Exchange. In September, 2015, ALK was purchased for over £60,000,000 by Balfour Beatty. It had 27 production sites with over 140 MW electricity generating capacity.
EFL transferred its interests in VCG to Energy CG who is now a minority shareholder in VCG.
Tom received the Pennsylvania Governors Award for Environmental Excellence in 2013.