Blue Biofuels Engages Engineering Company GMP to Start Engineering & Design for Cellulosic Ethanol Production Facility

Rhea-AI Summary

Blue Biofuels (OTCQB: BIOF) has contracted engineering firm Global Management Partners (GMP) to develop Front-End Loading (FEL-2) level engineering plans for a 3-million-gallon annual biofuel production facility. The project is funded by a recently awarded $1.15 million DOE Phase 2 grant. The facility will utilize Blue Biofuels' proprietary Cellulose-to-Sugar (CTS) technology to convert agricultural waste and biomass into renewable biofuels. This marks a significant step towards commercializing their CTS process and demonstrating its scalability.

Positive

• Secured $1.15 million DOE Phase 2 grant funding
• Progress towards commercialization of proprietary CTS technology
• Planned facility capacity of 3 million gallons of biofuel annually

Negative

• None.

PALM BEACH GARDENS, FL, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF).

Blue Biofuels, a pioneer in the renewable energy sector, has officially contracted with the engineering firm, Global Management Partners (GMP), to produce Front-End Loading (FEL-2) level engineering plans for a production facility capable of producing three million gallons of biofuel per year from cellulosic biomass. These plans will outline the specifics of how the facility will be built and operated. This planning stage is crucial for ensuring that the production facility can be constructed efficiently and at scale. This milestone marks a major step in the company's efforts to commercialize its proprietary Cellulose-to-Sugar (CTS) process, an innovative technology that converts agricultural waste and other biomass into renewable biofuels.

The development of the FEL-2 engineering plans will lay out the groundwork for constructing a state-of-the-art production facility, designed to showcase the scalability and efficiency of Blue Biofuels' CTS technology. Funding for this project is provided by the U.S. Department of Energy (DOE), through a Phase 2 grant awarded to the company two months ago. The $1.15 million grant will support the completion of these plans and help Blue Biofuels move closer to full-scale commercial production.

“We are thrilled to begin this crucial phase of our project and to partner with GMP to advance our engineering efforts,” said Ben Slager, CEO of Blue Biofuels. “With the support of the DOE and our commitment to innovation, we are confident that this production facility will serve as an additional confirmation of the scalability of our technology and helps to propel us into production of cellulosic biofuels to accelerate the transition to a more sustainable energy future.”

About Blue Biofuels, Inc.

Blue Biofuels is based in Florida and has the goal to produce biofuels through its patented Cellulose-to-Sugar (CTS) technology and its licensed Vertimass technology. CTS is a sustainable, and renewable green energy system with the potential to achieve a near-zero carbon footprint. The CTS process can convert virtually any plant material – grasses, forestry products, and agricultural waste such as sugarcane bagasse and wheat straw -- into sugars and lignin. Sugars are subsequently processed into biofuels, such as ethanol and sustainable aviation fuel, and lignin may be further processed into a variety of products. The CTS process is a patented and proprietary technology wholly owned by Blue Biofuels.

Blue Biofuels’ CTS technology represents significant progress in renewable energy, offering a sustainable solution that reduces reliance on food crops for ethanol production. By utilizing abundant and renewable biomass sources such as king grass, sugar cane bagasse, and corn stover, the company is positioned to contribute meaningfully to the global transition toward cleaner energy. This versatility allows the company to take advantage of feedstock variability in different locations around the US and the world.

Special Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

Contact:
Ben Slager, CEO and Chairman
Ben@Bluebiofuels.com

Anthony Santelli, CFO
Anthony@Bluebiofuels.com

SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com

FAQ

What is the planned production capacity of Blue Biofuels' (BIOF) new facility?

The planned facility will have a production capacity of three million gallons of biofuel per year from cellulosic biomass.

How much funding did Blue Biofuels (BIOF) receive from the DOE for the engineering plans?

Blue Biofuels received a $1.15 million Phase 2 grant from the U.S. Department of Energy to support the completion of the engineering plans.

Which engineering firm is Blue Biofuels (BIOF) working with for the production facility plans?

Blue Biofuels has contracted Global Management Partners (GMP) to produce the Front-End Loading (FEL-2) level engineering plans.