Alliance BioEnergy Plus Announces Name Change to Blue Biofuels, Inc. and Symbol Change from ALLM to BIOF
Blue Biofuels, Inc. (PINK: BIOF), formerly known as Alliance BioEnergy Plus Inc. (ALLM), has announced a name and stock symbol change approved by FINRA, effective August 27, 2021. The company specializes in clean technology through its patented CTS technology, which converts plant materials into sugars, biofuels, and bioplastics without using enzymes or acids. Furthermore, the company aims to benefit from D3 Renewable Fuel Credits from the US government, potentially adding significant revenue per gallon of ethanol produced.
- Company name change to Blue Biofuels could enhance brand recognition.
- CTS technology converts various plant materials into sugars and biofuels, potentially increasing revenue streams.
- Eligibility for D3 Renewable Fuel Credits could provide additional financial support of approximately $3/gallon of ethanol.
- None.
PALM BEACH GARDENS, FL, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (PINK: ALLM, now PINK: BIOF).
Alliance BioEnergy Plus Inc., has formally changed its name to Blue Biofuels, Inc. (the “Company”) and the Company has received approval from FINRA for a symbol change to BIOF, effective August 27, 2021. The symbol ALLM will no longer be used.
ABOUT OUR CLEAN TECHNOLOGY
CTS 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 subsequently into biofuels, and bioplastics, without the use of enzymes or liquid acids. CTS stands for Cellulose to Sugar. The cellulose is converted into sugar and lignin. The sugar is further converted into bio-ethanol and other biofuels. The lignin may be further converted into bioplastics. The CTS process is an independently-developed patented and proprietary technology that is fully owned by the Company.
Management believes that bio-fuel 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 around
Information in this document may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 estimate, 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
FAQ
What is the new stock symbol for Blue Biofuels?
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