Blue Biofuels Increases its Land Holdings to Grow Feedstock for Biofuels to 182 Acres
Blue Biofuels, Inc. (OTCQB: BIOF) has announced the leasing of an additional 167 acres in southwest Florida, expanding its farmland for king grass cultivation, bringing the total to 182 acres. This land is intended for bio-ethanol and sustainable aviation fuel production via the patented Cellulose-to-Sugar (CTS) process, aiming to produce about 500,000 gallons of ethanol annually.
The acquisition is a critical step towards upscaling production capacity following a successful pilot line. The company anticipates an over 80% reduction in carbon emissions compared to fossil fuels. Positive results from the CTS technology, which converts cellulose to soluble sugars 100 times more efficiently than previous prototypes, bolster plans for commercial production and securing EPA D3 cellulosic Renewable Fuel Credits, currently valued at approximately $1.95 per gallon.
- Leased an additional 167 acres, totaling 182 acres for king grass cultivation.
- Expected annual production of around 500,000 gallons of ethanol.
- Aims for over 80% reduction in carbon emissions compared to fossil fuels.
- Successful pilot line results support scaling to semi-commercial production.
- Proprietary CTS technology shows a conversion efficiency significantly higher than previous models.
- Potential eligibility for EPA D3 Renewable Fuel Credits valued at $1.95 per gallon.
- None.
PALM BEACH GARDENS, FL, April 20, 2023 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF).
Blue Biofuels announces that it has leased an additional 167 acres of farmland in southwest Florida on which it intends to grow king grass for the production of bio-ethanol and sustainable aviation fuel through its patented Cellulose-to-Sugar (CTS) process. This acquisition brings the total amount of land up to 182 acres. This land increase is a necessary step to provide sufficient feedstock for the next step up in capacity after the recent success of the pilot line.
The land should provide sufficient feedstock to create around 500,000 gallons of ethanol per year. It will further be used to optimize the planting, growing, and harvesting of large volumes of king grass on the way forward to commercial production. In commercial production, Blue Biofuels expects to reduce carbon emissions by over
“This is a necessary step forward for the company that will provide sufficient feedstock for further upscaling to semi-commercial scale,” said CEO Ben Slager. “We expect to sow this additional land in a manner to allow for continuous cycles of planting and harvesting to yield a regular, uninterrupted supply of ready-to-process king grass.”
As has been previously reported, Blue Biofuels achieved full conversion of cellulose into soluble sugars at a rate of around 100 times that of our CTS prototype. These positive results give us the basis to make the decision to move forward with a further scale-up to a semi-commercial scale and increase feedstock production to the required levels.
ABOUT BLUE BIOFUELS’ CTS TECHNOLOGY
Blue Biofuels Cellulose-to-Sugar (CTS) technology is an environmentally friendly, sustainable, and renewable green energy system. The CTS process has a near-zero carbon footprint that 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 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’ management believes that biofuel originating from the Company’s CTS process will be eligible to receive the US EPA’s generous D3 cellulosic Renewable Fuel Credits. The D3 credit is currently around
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
Ben@Bluebiofuels.com
Anthony Santelli, CFO
Anthony@Bluebiofuels.com
SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com
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FAQ
What is the significance of Blue Biofuels leasing additional land on April 20, 2023?
How much ethanol does Blue Biofuels expect to produce annually from the new farmland?
What is the expected impact of Blue Biofuels' operations on carbon emissions?
What is Blue Biofuels' Cellulose-to-Sugar (CTS) technology?
Why could Blue Biofuels benefit from EPA D3 cellulosic Renewable Fuel Credits?
