Appalachia Storage & Trading Hub progress continues
So. Charleston, W.V.; November 9, 2017 – Mid-Atlantic Technology, Research and Innovation Center (MATRIC) is pleased with today’s announcement of West Virginia Department of Commerce and China Energy Investment Corporation Limited’s plan to invest $83.7 billion in shale gas development and chemical manufacturing projects in West Virginia over the next 20 years.
MATRIC is proud to have played a central role on behalf of the WV team and to have collaborated closely with the West Virginia Department of Commerce, China Energy, and federal and state government officials on this agreement.
“We are excited and optimistic about the investment by China Energy. They have a systematic and logical strategy to implement significant projects in the U.S. over the next 20 years,” said Steve Hedrick, CEO, MATRIC. “This is especially an exciting time for the people of Appalachia who have advocated for a local raw material extraction and consumption strategy for years.”
“The results of this investment will have substation economic development benefits to the state of West Virginia and the Appalachia region, including job creation,” continued Hedrick.
In addition to power generation and chemical manufacturing, a key area of focus for this investment will be underground storage of natural gas liquids and derivatives, otherwise referred to as the Appalachia Storage & Trading Hub.
About MATRIC | Mid-Atlantic Technology, Research & Innovation Center
MATRIC is the strategic innovation partner of choice that provides uncommon expertise and infrastructure to solve the most challenging science and technology problems. Focusing on the areas of chemical, energy and environmental technologies, technical engineering and advanced software technologies, MATRIC delivers innovation from concept to commercialization. We utilize our experienced and renowned staff, unique laboratory and pilot plant facilities, and flexible intellectual property models to create value for customers and investors around the world. We are an energized and expanding company that works from facilities in South Charleston and Morgantown, W.Va. For more information, visit www.matricinnovates.com or follow MATRIC on Twitter @matricinnovates.
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