Blue Biofuels Achieves Over
99% Conversion of Cellulose
PALM BEACH GARDENS, FL --
January 13, 2022 -- InvestorsHub NewsWire -- Blue Biofuels, Inc.
(PINK:
BIOF). Blue Biofuels, Inc. (the "Company" or "BIOF")
is pleased to announce that it has achieved full conversion ( 99% +
) of king grass cellulosic material to water soluble sugars
on a repeatable basis. This conversion occurs with a reaction
time of under one minute.
This achievement was accomplished
with the Company's upgraded 4th generation CTS 2.0 (Cellulose to
Sugar) reactor system that has been designed to allow further
process optimization as compared to earlier systems. Full
conversion is the most efficient use of the feedstock possible and
exceeds earlier projections. Management believes that this
will lead to lower operating and feedstock costs.
This result provides the Company with
a strong basis to upscale to the semi commercial 5th generation
system and later to the full commercial scale, 6th generation.
Blue Biofuels has initiated the development of the
5th generation CTS reactor
based on the design parameters of the successful 4th generation system. The Company intends
to have the 5th generation
operational within the first half of 2022.
Although BIOF is very pleased with
these results, they unfortunately took longer than anticipated due
to delays encountered in the supply chain caused by the Covid
epidemic. The epidemic and accompanying lockdowns and
shutdowns at our suppliers and their suppliers caused longer
delivery times on the modifications and optimizations of the CTS
reactor that were needed on the way to obtaining this result. Going
forward, the Company intends to further optimize its supply chain
to avoid further delays due to Covid as much as possible.
CEO Ben Slager says, "I am very
pleased with this result. It exceeds my expectation and is an
excellent basis for cost leadership in the cellulosic sugar and
biofuels market place. We also see increased interest for our
cellulosic sugars in multiple areas of use, like bio chemicals and
bio plastics. We envision a great start in the market in cellulosic
bio jet fuels as one of the first volume applications."
ABOUT OUR CLEAN
TECHNOLOGY
CTS (Cellulose to Sugar) technology
is a near zero carbon footprint system that can convert virtually
any plant material – grasses, wood, paper, farm waste, yard waste,
forestry products, fruit casings, nut shells, and the cellulosic
portion of municipal solid waste -- into sugars and lignin.
Sugars are subsequently processed into biofuels. Lignin may be
further converted into biodegradable bioplastics or used in ion
exchange resins. CTS stands for Cellulose to Sugar. The CTS
process is an independently developed patented and proprietary
technology that is fully owned by the Company.
Management believes that biofuel
originating from the Company's CTS process will be eligible to
receive generous D3 cellulosic Renewable Fuel Credits ("RINs") from
the US Government. The D3 RIN is currently approximately
$3.4/gallon of ethanol, which could be earned in addition to the
market price of ethanol. This incentive is offered to all domestic
cellulosic fuel producers whose fuel is used in the transportation
industry. The Environmental Protection Agency's newly proposed
revised mandate for cellulosic ethanol is 620 million gallons for
2021, and 770 million gallons for 2022.
Information in this document may
constitute forward-looking statements or statements which may be
deemed or construed to be forward-looking statements. The risks,
uncertainties and other factors are more fully discussed in the
Company's filings with the U.S. Securities and Exchange Commission.
All forward-looking statements attributable to Blue Biofuels, Inc.
herein are expressly qualified in their entirety by the
above-mentioned cautionary statement. Blue Biofuels, Inc. disclaims
any obligation to update forward looking statements contained in
this press release, except as may be required by
law.
Contact:
Ben Slager, CEO
Ben@Bluebiofuels.com
Anthony Santelli, CFO
Anthony@Bluebiofuels.com
SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com
