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Paper Machine Energy Considerations Dick Reese Dick Reese and Associates Inc Dick Reese and Associates, Inc. Peachtree Corners, GA 770-448-8002 [email protected]

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Paper Machine Energy Considerations

Dick ReeseDick Reese and Associates IncDick Reese and Associates, Inc.

Peachtree Corners, GA770-448-8002

[email protected]

Paper Machine Energy Overview Energy efficiency on paper machines varies widely. This presentation will:

Discuss paper machine energy benchmarks Discuss paper machine energy scorecards used to

benchmark energy performance and identifybenchmark energy performance and identify opportunities for improvement

Provide examples of some recommendations that phave been successfully implemented

Primary goal is to help paper companies be more energy efficient and stay in businessmore energy-efficient and stay in business

Energy Pop Quiz-11 O “ i l” hi i i1. On a “typical” paper machine, energy consumption is

___% higher than on top performing machines.

2. Energy consumption can usually be reduced by ___% without capital expenditures.

3. What operating changes provide good opportunities for reducing energy use without capitalfor reducing energy use without capital expenditures?

Energy Pop Quiz-23 Wh i h id d i i3. What operating changes provide good opportunities

for reducing energy use without capital expenditures?p

a. Reduce paper losses between reel and winderb. Press section optimization

Steam and condensate system operationc. Steam and condensate system operationd. Water heatinge. Air handling systemsf. Pulper operationg. Refining h. Steam box operationpi. Trim optimization

Energy Pop Quiz-34 Whi h d i h l ?4. Which grade requires the least energy use per ton?

Fine Paper Linerboard Corrugating Medium Bleached Board

Paperboard Paperboard LWC Newsprint Tissue/Towel Kraft Paper Fluff Pulpp Market Pulp

Energy Pop Quiz-45. What country in the world has the

most fossil fuel reserves?

Energy Pop Quiz-4Energy Pop Quiz 45. What country has the most fossil fuel

reserves?reserves?Answer-United States“The U S has more oil in the ground than all of theThe U. S. has more oil in the ground than all of the

Middle East put together.”-Forbes Brothers-101 billion barrels of oil offshore-88 billion barrels onshore

New drilling techniques such as hydraulic fracturing have greatly increased access to oil and natural gas.g

The American Petroleum Institute estimates that within 15 years, U. S. and Canadian energy resources could supply 100% of U. S. liquid fuel needs.

U. S. has 28% of the world’s coal reserves.

Energy pricing and supply areEnergy pricing and supply are a complicated political puzzle.

World Energy Demand isWorld Energy Demand is Increasing Energy demand is increasing rapidly in

emerging market countries and exceedsemerging market countries and exceeds 22 million barrels of oil per year.

China India Russia and the Middle China, India, Russia, and the Middle East combined consumed more crude oil than the U S for the first time inoil than the U. S. for the first time in 2008.

International Energy AgencyInternational Energy Agency

Reasons Natural Gas Prices will Pop in 2013

Winter chill increases natural gas demand Industrial and petrochemical usage on risep g Natural gas fleets expand across USA Electricity consumption from gas set to spike Electricity consumption from gas set to spike U. S. LNG trade set to go global

Dr. Kent Moors-Oil Investor and Energy Reports

Thermal Kinetic Energizer (TKE)

T h l f i l ffi i l i Technology for using natural gas more efficiently in boilers, lime kilns, and other applications

E = ½ mv2 EK= ½ mv2

If you want to double steam generation with a conventional burner, you have to double gasconventional burner, you have to double gas consumption since velocity (150 m/sec) does not change.With TKE l it i i d t 220 / With TKE, velocity is increased to 220 m/sec

At constant mass of gas, EK is 2.15 times higher with TKE than a conventional gas burnerTKE than a conventional gas burner

(220 m/sec)2 / (150 m/sec)2 =2.15

The Revolution in Heat Transfer TechnologyUnderstanding the TKE-EnergizerUnderstanding the TKE-Energizer

TKE Web Sites

www sovereign-universe comwww.sovereign-universe.com

www.gastrim.com

Price is the Problem with Renewable Energy

Th i f h d b h t b hi h t j tif lt ti The price of hydrocarbons has to be high to justify alternative sourcing.

Solar and wind have high implementation cost and are less cost-ff ti th t l j t ith teffective than natural gas projects even with government

subsidies. At least 10 “green” companies that DOE has “loaned” money to

t d l h fil d f b k tor guaranteed loans have filed for bankruptcy. Nuclear is the cheapest way to generate electricity but has high

development and startup cost and is not popular politically. Coal reserves are plentiful but emission standards being

introduced are changing the economics of using coal. Biofuel projects have lower energy production ratio. For

example, ethanol provides only 84% of the power provided by gasoline.

Green Energy’s Baptists and Bootleggers WSJ-1-16-13

“Baptists and bootleggers” is term used to describe coalitions of do-gooders and mercenaries that gather around green energy issuesaround green energy issues.

“The green political machine exists to extract high prices from electricity users for the machine’s own p ybenefit”.

The green lobby has had to attack shale because it t t th hi h t f i d d laccentuates the high cost of wind and solar.

Warren Buffet is investing in a solar power plant that is guaranteed to yield large cash flows for 20-25is guaranteed to yield large cash flows for 20 25 years due to California legislative mandate.

Federal Subsidies for Electric Power by SourceFederal Subsidies for Electric Power by Source-Fiscal 2010 WSJ 8/18/2012

Energy Source Subsidy Dollars-Millions

Dollars per Megawatt Hour

Oil and Gas $654 $0.64$ $

Hydropower $215 $0.82

Coal $1 189 $0 64Coal $1,189 $0.64

Nuclear $2,499 $3.14

Solar $968 $775 64Solar $968 $775.64

Wind $4,986 $56.29

Energy Power DensityEnergy Power Density WSJ-1-19-2012

Energy Source Watts Generated/Square Meter of Land

Corn Ethanol 0.05

Wind Turbine 1.0

Small Natural Gas Well 28

Nuclear Reactor 2000

If you wanted to replace 10% of U. S. oil consumption with

fuel derived from switch grassfuel derived from switch grass, it would require 37 million

acres-roughly the size of Illinois

New Power Plant CostsFuel $ Cost per Megawatt Hour*

Natural Gas 66

Wind 96Wind 96

Coal 98

Nuclear 114

Solar Photovoltaic 153

Solar Thermal 242

*Includes capital, fuel, operations, and maintenance

U. S. Energy InformationU. S. Energy Information Administration-2012

Hidden Flaw of Energy Efficiency Lowering the price of something means more will be

consumed Mexico’s cash for coolers program subsidized

swapout of inefficient refrigerators and air conditioners for more efficient ones.

Projected energy savings were 30%. Actual savings were only 7% because buyers chose

larger capacities and options like ice makers in the door and lowered temperature settings.

Some efficiency laws can be good but unintended Some efficiency laws can be good but unintended consequences need to be considered.

U. S. Steam Cost-$ per M lb

U. S. Electricity Cost-$ per MWh

Reducing Energy Operating Costs

Papermaking is a complex process and each machine is unique. Improving energy efficiency requires careful evaluation of total paper machine operation.

Significant energy savings can be realized on most paper machines by monitoring and benchmarking energy consumption andbenchmarking energy consumption and implementing cost effective changes.

How Can Opportunities to Reduce E C ti PEnergy Consumption on Paper Machines be Identified? The U. S. Department of Energy (DOE)

funded development of a paper machine energy scorecard system.

The scorecard system Uses Excel spreadsheets to ask comprehensive

questions on paper machine components related to energy consumptionto energy consumption.

Compares each paper machine to energy performance on other machines producing similar grades.

Paper Machine Energy Scorecard System

Scorecards are based on TAPPI technical information papers.technical information papers. 0404-63-Paper Machine Energy

Conservation (developed from energy ( p gyconservation tracks at TAPPI Papermaker conferences and updated regularly)

0404-47-Paper Machine Performance Guidelines

Other TAPPI TIPs

TAPPI TIP 0404-63 (2011)TAPPI TIP 0404 63 (2011) Paper Machine Energy Conservation

Five Basic Principles1. Minimize amount of water evaporated in the

dryers.2. Minimize amount of steam condensed

outside the dryersoutside the dryers.3. Maximize condensate return flow and

pressure to the power house.pressure to the power house.4. Minimize electrical consumption for key

users.5. Monitor and manage energy consumption

and cost.

Liner and Medium Energy Performance TargetsTAPPI TIP 0404-63-2011 CorrugatingTAPPI TIP 0404 63 2011 Corrugating

Index Units Liner MediumUptime % 94 94

First quality % 97 97Overall machine efficiency % 91 91Overall machine efficiency % 91 91 Total steam consumption lb/ton 2,800 2,750

kg/tonne 1,400 1,400Electrical consumption kWh/ton 300 300

kWh/tonne 330 330Total energy cons. MMBtu/ton 5.0 5.0

GJ/tonne 5.8 5.8Water consumption gal/ton 1,500 1,500p g

m3/ton 5.7 5.7Couch solids % 27 27Press solids % 42/50 42/50

Size press moisture % NA NASize press moisture % NA NAReel moisture % 7.5 10.5Drying steam lb steam/lb water evap 1.2 1.2

PV supply temperature °F <180 <180°C <80 <80°C <80 <80

Condensate return % 75-80 75-80

Paper Machine EnergyPaper Machine Energy Scorecard System Improves awareness of paper

machine energy consumptionmachine energy consumption Helps identify opportunities to

reduce energy consumption and cost

Provides comparison to energy best practicespractices

Paper Machine Energy Scorecard Worksheets Paper machine basic data Grade specific information Paper machine energy monitoring Dryer section Press section Auxiliary systems including refining, vacuum

li ti t t t k it tapplication, water systems, stock agitators and pumps, steam showers, CD profile control, and machine room ventilationco t o , a d ac e oo e t at o

Summary

Grade Specific Energy Scorecard Worksheets Linerboard Corrugating medium

Fi Fine paper Bleached board Kraft paper Kraft paper Recycled Paperboard Newsprinte sp t LWC Market pulp Fluff pulp

© 2008 - Dick Reese & Associates Inc.

GRADE ENERGY SCORECARD

Why Important Comparison of energy performance to other paper machines producing the same grade is a good way to benchmark energy consumption.

What is the major grade produced?

ACTIONS

Paperboard

ACTIONS YOUR

SCORE COMMENTS

G4 What is total steam consumption on the paper machine 10 4,295lb/gross ton)?

4,201-5,000

g )

G5 What is electrical consumption (kWh/gross ton)? 0 346>400

G5 What is electrical consumption (kWh/gross ton)? 0 346

Gas=0.37 MMBtu/t

7 0G6 What is total energy consumption (MMBtu/gross ton)? 0 7.8>7.0

G7 What is total water consumption (gal/gross ton)? 10 1,7421,501-2,000

PAPER MACHINE ENERGY SCORECARD 28/Sep/10

COMPANY NAME ABC PaperMILL LOCATION Great Place CA USAMILL LOCATION Great Place, CA, USAPAPER MACHINE NUMBER 1

© 2008 - Dick Reese & Associates Inc.SUMMARY RESULTS

POSSIBLE YOUR PERCENTPAPER MACHINE ENERGY QUESTIONS SCORE SCORE

ENERGY MONITORING 200 200 100%

DRYER SECTION-CYLINDER DRYERS 340 205 60%

PRESS SECTION 285 62 22%

AUXILARY SYSTEMS AUXILARY SYSTEMS A. REFINING 165 123 75% B. VACUUM APPLICATION 145 60 41% C. WATER SYSTEMS 160 133 83% D. STOCK PREPARATION AND PUMPS 100 40 40% E. STEAM SHOWERS 40 30 75% F. CD PROFILE CONTROL 30 15 50% G. MACHINE ROOM VENTILATION 90 55 61%

GRADE SCORECARD 305 90 30%GRADE SCORECARD 305 90 30%Grade Selected Paperboard

TOTAL SCORE 1,860 1,013 54%

Energy Evaluation ResultsBased on energy evaluations on over 125 pulp andBased on energy evaluations on over 125 pulp and

paper machines in North America: Annual energy savings opportunities range from gy g pp g

$100,000 to $10 million on single machines. Typically 25% of savings opportunities identified can

be implemented with no capital costbe implemented with no capital cost. A recent evaluation in a top performing

containerboard mill with three paper machines found p pover $800,000 in annual energy savings with no capital required.S l ti h b f d d b DOE Some energy evaluations have been funded by DOE and others are paid for by paper companies.

 Energy Reduction Opportunities Implementation Total PaybackC t R S i P i dCost Range Savings Period

$ ($/year) Range (years)1 Shut off steam to bottom unrun dryers 1,000 190,000 0.01

2 000 0 012,000 0.012 Reduce VA supply air temperature 1,000 37,000 0.03

2,000 0.053 Increase press showerwater temperatures 10 000 148 000 0 073 Increase press shower water temperatures 10,000 148,000 0.07

20,000 0.144 Increase second main press loads 10,000 148,000 0.07

20 000 0 1420,000 0.145 Change to 480 volt‐Install VFD on boiler feedwater pump 100,000 96,000 1.04

130,000 1.356 Install new trim air compressor with VFD and control system 200 000 96 000 2 086 Install new trim air compressor with VFD and control system 200,000 96,000 2.08

240,000 2.50

Total 619 000Total 619,000

Paper Machine Energy Scorecards

Give me your business card or send me an email and I will send the latestan email and I will send the latest scorecards to you.

Dick ReeseDick [email protected]

ll b h k hI will be happy to work with you on any questions or assistance you may need.

Top Areas for Energy Reduction

Reduce paper losses between reel and

Pulpers and Agitators

winder Water Systems

Refining Steam Boxes

Steam and Condensate Systems

Vacuum Systems Size Press and

Pressing Pumps

S e ess a dCoaters

Slowed Back Heat Recovery Production Rates

Reduce Paper Losses Between Reel and Winder

Grade Yield-%

Causes Potential Yield-%

Net TPD

Potential Profit/yr @$200/t

Recycled Medium 89.5 Winder Issues 97 525 $2.9 Million

Recycled Liner 91.8 Reel, Turn-ups 97 1120 $4.4 Million

Kraft Paper 89.9 Tests 95 195 $0.8 Million

Liner (some White Top)

87.2 Grade Changes

95 929 $6.0 Million

Specialty 85.7 Grade Ch

90 100 $0.3 MilliChanges Million

Water Energy Saving Opportunities Use warm water from pulp mill Increase use of clarified whitewater Reuse vacuum pump seal water or install blowers Minimize mill water make-up to stock and whitewater

systems Maximize entering stock temperatures Maximize entering stock temperatures Use single nozzle traversing showers and smaller

diameter nozzles Keep cool water out of warm and hot water systems Recover heat from paper mill effluent or hood

e ha stexhaust Modern saveall in good operating condition

Dryer Ventilation Systems Operate air systems in automatic temperature control Operate air systems in automatic temperature control

with recommended set points Pocket ventilation-180oF or lower-High enough to prevent

hood sweatinghood sweating Dryer section blow boxes- 160oF Building ventilation units- 75oF Roof supply units- 120oF

Industry best practice includes high-performance dryer hoods and heat recovery from hood exhaust todryer hoods and heat recovery from hood exhaust to preheat PV, glycol systems for machine room ventilation, and water heating

Recover heat from condensate flash to heat air

Press Optimization Run advanced technology fabrics Run advanced technology fabrics Move towards nip dewatering Optimize nip conditions Optimum roll, shoe, and sleeve designs Effective doctoring of suction rolls and shoe press sleeves Minimize sheet rewet Optimize fabric conditioning-monitor water flows, vacuum

application, showering, shower water temperature, etc. Consider use of chemicals to improve water removal Consider use of chemicals to improve water removal Increase sheet filler content Conduct press optimization per TIP 0404-52

Refining Opportunities Run low intensity plate designs, especially on

hardwood Check refiner mechanical condition regularly Refine each pulp type separately

Shut down tickler refiners when possible Shut down tickler refiners when possible Operate in design hydraulic flow ranges Upgrade disk refiners with splined rotors Upgrade disk refiners with splined rotors Consider modern energy-efficient designs when

replacing refiners Minimize stock flow through deflakers

Vacuum System Opportunities Based on a Metso evaluation, over 50% of paper machines have Based on a Metso evaluation, over 50% of paper machines have

poor vacuum system operating efficiency. Conduct regular performance tests-rebuild/replace inefficient

pumps. Do not rebuild obsolete inefficient designs.pumps. Do not rebuild obsolete inefficient designs. Manage seal water temperature to maintain 40oF below

whitewater temperature. Consider cool seal water injection. Check vacuum pipe sizing Check vacuum pipe sizing. Monitor pump motor loads. Graduate flatbox vacuums.

h ff/l fl b d hl b Shut off/lower unnecessary flatboxes and uhle boxes. Vacuum system power consumption can typically be reduced by

10 to 15% by optimizing existing equipment. Consider blowers if electricity cost is high or water use is a

problem

Size Press and Coater Opportunities

Increase entering sheet moisture content >3% on fine paper and bleached board 10 to 15% on recycled liner

Increase starch and coating solids and reduce pick-up

Maximize cylinder drying Measure gas/electricity flows to IR dryers and

floatation dryers. Optimize burners. Replace puddle size presses with metering

size presses

Pump Optimization Average pumping efficiency is below 40% Over 10% of pumps Average pumping efficiency is below 40%. Over 10% of pumps

run below 10% efficiency. Major factors affecting pump efficiency are throttled valves and pump over-

sizing.g Seal leakage causes highest downtime and cost. Check for multiple parallel pumps when number of operating pumps is

seldom changed.Check batch or cyclical start/stop system with frequent pump cycling Check batch or cyclical start/stop system with frequent pump cycling.

Look for significant cavitation noise.

Consider variable-speed drives.E i f 20% ibl ith t Energy savings of 20% or more are possible with system optimization.

More than 50% of pump lifecycle costs result from energy and maintenance e pense Less than 15% a e initial p chase costsmaintenance expense. Less than 15% are initial purchase costs.

Candidates for Variable Frequency Drives

C h it Couch pit pump Dry end pulpers y p p Broke HD

C i t dil ti Consistency dilution pump Other pumps where flows change a p p g

lot or cavitation problems are experiencedexperienced

Motor Efficiency Evaluate motors on life cycle cost rather than initial price Evaluate motors on life-cycle cost rather than initial price.

Energy usage accounts for more than 95% of its lifetime cost. Proper size is important.

Specify NEMA Premium efficient motors for continuous duty Specify NEMA Premium efficient motors for continuous duty applications

Consider upgrading to permanent-magnet (PM) rotor motors for even greater efficiencyeven greater efficiency

System-efficiency upgrades (such as adjustable-speed drives) are possible to maximize potential gainsC id d hi h ffi i V b lt Consider grooved high-efficiency V-belts

Use fan-system analysis tools from DOE Specify three-phase motors if possible

Low Production Rate Energy Saving Opportunities

Lower whitewater temperature Lower whitewater temperature Maintain press loads to maximize sheet dryness Reduce steam flow/shut off steam boxes Reduce steam flow/shut off steam boxes Ensure there is no venting from dryer steam systems Utilize low pressure steam sources where possiblep p Reduce PV supply air temperatures or shut off if

profiles and hood conditions allowSh t d i t fi Shut down unnecessary equipment-refiners, pumps, agitators, vacuum pumps, exhaust fans, and in some cases cleaners

Additional Energy Saving Opportunities

Replace steam turbines Replace obsolete vacuum pumps Replace obsolete vacuum pumps Move trim squirts on narrow deckle

gradesgrades Make good use of flash steam Improve steam line insulation

Compressed Air System Quick Hits Check the filters-Pressure drop across a filter rises rapidly as it Check the filters-Pressure drop across a filter rises rapidly as it

reaches the end of its service life. Manage leaks-The average facility has 30 to 35% leakage if it has not

taken recent action to identify and repair leaks.y p Fix the filter/regulator/lubricators (FRLs)-Be sure:

Filter bowls are not cracked or leaking Manual drains are closed Gauges are readable and in good working order Regulators are set to correct end use specification

Undo unauthorized modifications-Cooling personnel or equipment or g p q pcleaning floors can be expensive and reduce pressure and flow.

Check drains at air/lubrication separators, air receiver, air dryer, coalescing filters, and distribution low points.

Make sure controls are working properly.

What Are the Ultimate LowWhat Are the Ultimate Low Hanging “Fruits”?

Paper Machine Energy Quick HitsPM Action

C Conduct trial shutting off dryer 51 (700 lb steam/hr)

B C Conduct trials with lower PV supply air temperaturesB,C Conduct trials with lower PV supply air temperatures

D Identify additional equipment to shutdown

B,C Conduct trials with higher moisture content into first coater

C Determine cause of condensate return contamination

C Repair third section steam and condensate differential pressure (swinging)

A Conduct evaluation to reduce reel to winder losses

C Repair third section thermocompressor insulation

350

Electrical Consumption:   kWh/ton ‐ PM4 versus 5

300

200

250

150

PM4

PM5

100

0

50

Drives Vac. Pumps MCC Gen. S/C

Paper Machine Energy Quick Hits (cont)

PM Action

A Check press exit consistency regularly

C Recalibrate 40 lb steam to dryers and hot well flow metersC Recalibrate 40 lb steam to dryers and hot well flow meters

A,B,C Recalibrate common whitewater chest drain line flow meter

B Cond ct t ials sh tting off one co ch pit agitato henB Conduct trials shutting off one couch pit agitator when sheet is on reel

B Repair 410 lb steam leak at No. 1 air cap

C R i t l k t il t t kC Repair steam leak to oil storage tank

C Repair steam leak on breast roll shower heat exchanger

A,B,C Enermin system adherence at reel pulpers

Longer Term Energy Projects PM Action

A,B,C Develop water balances-determine requirements to reduce water useeduce ate use

A Determine requirements to improve screening and reduce fiber losses

B,C Kaizen/KT implementation to reduce high fiber lossesB,C Kaizen/KT implementation to reduce high fiber losses

C Check steam box-conduct trials

B Determine requirements to recover condensate on supercalenderssupercalenders

B Investigate inside air source for wet end motor cooling fan

A Improve steam and condensate maintenanceA Improve steam and condensate maintenance

Investigate upgrading Kraft pulper rotor and extractionplate

Longer Term Energy Projects (cont)

PM Action

A Consider changing couch transfer geometry to reduce stretch marksst etc a s

C,D Determine causes of high water use when shutdown

C Troubleshoot high motor load on Somarakis vacuum pump

A B C Change ac m condense feed ate f om lake ate toA,B,C Change vacuum condenser feed water from lake water to warm water

A,B,C Develop check list for correcting contaminated condensate

A B C Pit h t dj t t li t t b dA,B,C Pitch management-adjust centerline targets based on amount of pitch seasonally

A,B,C Inspect/repair steam traps regularly

B,C Improve cooling water measurement and management on vacuum condensers

Longer Term Energy Projects (cont)

PM Action

B,C Reuse coater air cap exhaust to heat PV supply air

B C Evaluate/optimize after coater dryingB,C Evaluate/optimize after coater drying

A,B,C Investigate additive dilution to reduce water use

A,B,C Determine requirements to increase pump seal water t ttemperature

A,B,C Investigate pressurizing condensate return systems

B Investigate splitting first section dryers into separatesteam groups

A,B,C Use whitewater to fill empty machine chests

A,B,C Identify candidates for variable frequency drives and develop projects

New Paper Machine Energy-Steam Considerations Install forgiving press section with excellent dewatering Install forgiving press section with excellent dewatering Install a modern press section steam box Install modern steam and condensate system with stationary

syphons and a dryer management systemsyphons and a dryer management system Minimize condensing steam outside the dryers Maximize condensate return flow and pressure to power house

ll h h h d l d h d Install a high humidity closed hood Operate with PV temperature as low as possible Design for good moisture profiles so reel moisture can be

maximized Install tight water system to minimize water heating If a size press is required, install metering type and run starchIf a size press is required, install metering type and run starch

solids as high as possible Recover heat from dryers

New Paper Machine Energy-Electricity Considerations

Install modern energy efficient refiners and controls Install modern energy-efficient refiners and controls Install energy-efficient vacuum pumps (blowers if

electricity cost is high)y g ) Properly size pumps Install variable-frequency drives Install energy-efficient agitators in chests and pulpers Install vertical agitators in chests

If d fl k i d t k fi t t If deflakers are required, screen stock first to minimize deflaker size and energy use

New Paper Machine Energy-Other Considerations

I ll d i i f l i i d Install good monitoring of steam, electricity, and water and display for operators. Include alarms when energy consumption is high.gy p g

Minimize thick stock system size with good agitation Install compact wet end system Install additive injection system Install adequate water system surge capacity

If t d i i i d i t ll If coater drying is required, install new energy efficient equipment with heat recovery

If trim will vary, design for excess trim removal at If trim will vary, design for excess trim removal at wet end

Energy Quote

“Energy-efficiency is one of the highest-t d l t i k i t t ireturn and lowest-risk investments in

the entire economy, no matter how low i i ht ”energy prices might go.”

Amory Lovins-Chairman and Chief Scientist, Rocky Mountain Institute, y