Terraform

“Revolutionary Achievement: Terraform Industries Transmutes Electricity and Air to Synthetic Natural Gas Inaugurally”

Reactor And Gas Injection System
The modern world is dependent on a vast network for extracting, processing, transporting and ultimately consuming hydrocarbons like crude oil and natural gas. Instead of reducing humanity’s dependence on hydrocarbons — which is impossible or undesirable or both, depending on who you ask — Terraform Industries’ solution is to produce this resource, using electricity and air, via a system it calls the Terraformer. Today, the startup is announcing that it has commissioned a demonstrator Terraformer and produced synthetic natural gas for the first time. Roughly the size of two shipping containers, the Terraformer consists of three subsystems: an electrolyzer, which converts solar power into hydrogen; a direct air capture system that captures CO2; and a chemical reactor that ingests both these inputs to produce pipeline-grade synthetic natural gas. The startup says that improvements are already in the works to bring these prices down even further to ensure that its synthetic natural gas hits cost parity with conventionally sourced liquified natural gas.

“Terraform Labs Declares Chapter 11 Bankruptcy”

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Singapore-based Terraform Labs (TFL), the company behind digital assets TerraUSD (UST) and Luna, filed for Chapter 11 bankruptcy in Delaware following the collapse of its cryptocurrencies in 2022. According to a court document filed today, Terraform Labs’ estimated assets and liabilities range from $100 million to $500 million, while the number of creditors is between 100 and 199. Terraform Labs plans to continue expanding its Web3 business, according to its statement. Founded in 2018, Terraform Labs wiped out at least $40 billion in market value and collapsed the crypto industry in May 2022. The bankruptcy filing comes four days after the U.S. SEC agreed to postpone the civil trial against Do Kwon Terraform Labs co-founder over an alleged $40 billion cryptocurrency fraud to March 25 from January 29.