EPAS said that through its proprietary infrared based technology, it is able to give real-time carbon emissions and MW production data on all types of power plants, including coal, gas and nuclear. NACF is also anticipating an investment into EPAS as part of the agreement.

The technology has patent pending in the US and internationally, since 2005. The information is provided 24/7 and is specific, down to the individual unit. In addition, because it is visually based, clients can confirm for themselves the status of the plants by looking at a live picture, the company said.

The company claims that the whole package, which is delivered in a web based format, provides information to emission traders, energy traders, power plant operators, and emissions regulators, giving them a potent competitive advantage in their respected fields.

John Shearer, chief operating officer of National Clean Fuels, said: “Throughout the due diligence phase, the EPAS documentation continually manifested a brilliant product, coupled with an exciting business plan. We foresee no issues as we proceed toward the definitive agreement.”