PALM BEACH GARDENS, FL, April 04, 2023 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF) announced today the achievement of full conversion of cellulose into soluble sugars from our king grass feedstock with our newly designed larger pilot reactor. We were able to process our king grass at a rate that is 100 times greater than that of the prototype system. This represents a significant milestone for Blue Biofuels’ proprietary Cellulose-to-Sugar (CTS) technology as our new reactor design can be directly scaled to commercial sizes.
With full conversion achieved, we will now focus on optimizing the continuous process and scale-up of the upstream and downstream steps and run for longer runs. We will also be looking into expanding available feedstock to serve the larger scale system we anticipate in the near future.
“This CTS pilot reactor is equipped with some design features that are necessary to ensure solid and feasible upscaling to very large volume, and therefore we are pleased to see full conversion with this system,” said CEO Ben Slager. “We firmly expect to have the same success with commercial-size machines.”
The knowledge gained from the completion of the pilot build-out will be key to the final design of the semi-commercial plant which is expected to be able to run up to a throughput rate to produce sufficient sugars that can convert into 500,000 gallons of ethanol per year.
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 $1.95/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. The Environmental Protection Agency’s current volume targets for cellulosic ethanol are 720 million gallons for 2023, 1.42 billion gallons for 2024, and 2.13 billion gallons for 2025.
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
