Blue Biofuels Receives Canadian Patent on CTS Process
Blue Biofuels, symbol BIOF, has received a Notice of Allowance for its primary patent on the CTS process in Canada, patent #3,121,695. This patent covers a system to convert cellulosic materials into sugar. Previously, the company secured patents for this process in the United States, Japan, and El Salvador, and expects approval in the EU and globally soon. Notably, Blue Biofuels had to change auditors due to the previous one being suspended by the SEC. The new auditor, Assure CPA, completed the review of the company's first-quarter 2024 financials on time, ensuring compliance with filing deadlines.
- Received Canadian patent for CTS process, expanding intellectual property portfolio.
- Previously secured similar patents in United States, Japan, and El Salvador, with expectations for global approval.
- New independent PCAOB-certified audit firm, Assure CPA, successfully reviewed Q1 2024 financial statements on time.
- Previous auditor was suspended by the SEC, necessitating a change in audit firms.
PALM BEACH GARDENS, FL, May 21, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels, Inc., (“the Company”) is pleased to announce that it has received a Notice of Allowance in Canada for the primary patent on its CTS process, #3,121,695 “System to Convert Cellulosic Materials into Sugar and Method of Using the Same.” The Company previously received the primary patent in the United States, Japan, and El Salvador, and we anticipate receiving it in the EU and the rest of the world soon.
As reported in the 8-K that the Company filed on May 17, the Company was required to change auditors as the prior auditor was suspended from practicing before the SEC. Blue Biofuels engaged Assure CPA, LLC as its new independent PCAOB-certified audit firm. We are pleased to report that Assure worked diligently with the Company and completed the review of our first quarter 2024 financial statements such that we were able to file them on time within the grace period on May 20th.
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.
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 recent patent did Blue Biofuels receive in Canada?
Which process is covered by Blue Biofuels' new Canadian patent?
Has Blue Biofuels secured similar patents in other countries?
What change did Blue Biofuels make to its auditing firm?
Did Blue Biofuels meet its financial statement filing deadlines?
