PALM BEACH GARDENS, FL, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (PINK: BIOF).
Blue Biofuels, Inc. (the “Company”) is pleased to announce that it filed two more patents that follow on the granted patent and three previously filed patents pending to its Cellulose-to-Sugar (“CTS”) technology system.
One filed patent pertains to the production of lignin from the CTS process; the second filed patent pertains to the production of nanocellulose from the CTS process.
These are important developments because our no-sulfur lignin can be used for the production of bio-originated and biodegradable plastics as well as in ion-exchange resins. Further, the Company believes both lignin and nano-cellulose have the potential of becoming very high value co-products of our process. The Company is working on separating and purifying these products for future sale. The global nanocellulose market is expected to exceed $1 billion by 2027, according to reportlinker.com.
“These are complementary products that we expect will broaden our potential product portfolio to meet our mission of becoming a supplier of renewable bio-fuels, renewable bio-chemicals, and biodegradable bioplastics,” comments CEO, Ben Slager.
ABOUT BLUE BIOFUELS’ CTS TECHNOLOGY
Blue Biofuels’ Cellulose to Sugar (CTS) technology provides a near zero carbon footprint process 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 bioplastics. The CTS process is an independently-developed patented and proprietary technology by Blue Biofuels that is fully owned by the Company.
Blue Biofuels’ management believes that bio-fuel originating from the Company’s CTS process will be eligible to receive generous D3 cellulosic Renewable Fuel Credits (“RINs”). The D3 RIN is currently around $3/gallon of ethanol, which could provide income in addition to that from ethanol sales. This incentive is offered to all domestic cellulosic fuel producers whose fuel is used in the transportation industry. This mandate was 590 million gallons in 2020 but has not yet been finalized for 2021 by the US Environmental Protection Agency.
Information in this document may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including the risks, uncertainties and other factors that 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
