PALM BEACH GARDENS, FL,, April 09, 2020 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (PINK: ALLM). Alliance BioEnergy Plus Inc., is pleased to announce that it has finalized the design and is building its new 4th generation “Cellulose-to-Sugar” (“CTS 2.0”) prototype.
The Company has received funding from a couple of angel investors that are more than sufficient to pay for the upgraded prototype of the Company’s revolutionary green renewable energy technology. This 4th iteration in upscaling the CTS 2.0 system is being built and should be completed in two to three months. The new design is much larger and further engineered with input from the previous iterations. It has multiple times the capacity as the 3rd generation prototype installed in January of this year, and additional refinements and features to further optimize parameters to be tested for upscaling to semi commercial scale.
CTS 2.0 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. CTS 2.0 has a near zero carbon footprint. CTS 2.0 is the fully owned and independently developed proprietary process of Alliance BioEnergy Plus.
Management continues to believe that our CTS 2.0 process, once commercialized, can produce ethanol at a lower cost than ethanol from corn due to the efficiency of the CTS 2.0 process, and the fact that our feedstocks (waste or grasses) are far less costly than corn. The current market size for ethanol is 15 billion gallons per year just in the US alone. Becoming the lowest cost producer of ethanol, we will also be the lowest cost producer of bio-jet fuel. Over 70 billion gallons of jet fuel were consumed globally in 2018.
It is important to note that any bio-fuel originating from the CTS process will receive the generous D3 cellulosic Renewable Fuel Credits (“RINs”), which are currently $1.40/gallon of ethanol, in addition to the market price of ethanol. This incentive to all cellulosic fuel producers helps absorb the volatility in energy prices, which the world has experienced severely these past couple of months.
To summarize the present situation, CEO Ben Slager says: “Our Company has never been in a better position than it is presently; we have a multibillion dollar market place which we will soon serve with green environmental and cost leading proprietary products in a very profitable fashion. We have a clean and reorganized company to work from, and we have the funds in place to continue to commercialize our process. I look forward to improving the environment with carbon neutral biofuels and bioplastics and, at the same time, making money for our shareholders.”
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 Alliance BioEnergy Plus, Inc. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Alliance BioEnergy Plus, 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.slager@alliancebioe.com
Anthony Santelli, CFO
Anthony@Alliancebioe.com
SOURCE: Alliance Bioenergy Plus, Inc. www.Alliancebioe.com