PALM BEACH GARDENS, FL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels Inc. and Vertimass, LLC, have created a partnership to employ Vertimass’ proprietary Consolidated Alcohol Deoxygenation and Oligomerization (CADO) technology to produce sustainable aviation fuel (SAF) and renewable propane and butane (rLPG) as co-products from ethanol. This new company, VertiBlue Fuels LLC, is equally owned by Blue Biofuels Inc. and Vertimass.
VertiBlue Fuels has the immediate objective to build a facility in Florida, which is anticipated to produce an estimated 10 million gallons of SAF and 2 million gallons of rLPG in its first year. Upon completion, the Partnership will expand SAF production to approximately 70 million gallons and rLPG to 14 million gallons, annually. The facility will initially convert sugarcane ethanol, followed by using ethanol derived from Blue Biofuels’ CTS (Cellulose-to-Sugar) technology. The creation of this partnership is a transition from technology development to production and represents the first step in building an end-to-end integrated continuous process for converting cellulosic biomass into SAF and other sustainable biofuels.
Blue Biofuels’ CEO, Ben Slager, states, “I am very enthusiastic about this partnership with Vertimass. It confirms our dedication to pioneering sustainable solutions in the aviation industry and producing biofuels. Our joint venture's objective is not only to produce high-quality SAF but also to contribute significantly to reducing carbon emissions. We are excited about the positive impact this project will have on both the environment and the aviation sector, and it is a clear step forward from Biofuels development to production."
Vertimass President and CEO Dr. Charles Wyman noted, “This partnership represents a major milestone for Vertimass, as it will move our breakthrough CADO technology to commercial scale and feed conversion of cellulosic biomass to SAF. The need for SAF in the marketplace continues to grow as airlines and governments around the world commit to net zero carbon emissions by 2050. Vertimass is delighted to be at the forefront of this growing market and looks forward to our low-cost CADO process contributing to reducing carbon emissions that feed climate change.”
Blue Biofuels and Vertimass are committed to the highest standards of environmental responsibility and innovation, and this partnership represents a pivotal step towards a more sustainable aviation sector.
About Blue Biofuels, Inc.
Blue Biofuels is based in Florida and has the goal to produce biofuels through its developed Cellulose-to-Sugar (CTS) 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.
About Vertimass LLC
Vertimass LLC is based in Irvine, California with the mission to develop and widely license breakthrough technologies that substantially expand production of sustainable transportation fuels and chemicals that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization of proprietary Vertimass technology can overcome the blend wall that currently impedes expansion of ethanol production from multiple sources of biomass and open up large new markets for aircraft and heavy-duty vehicle fuels and for chemicals not currently amenable to ethanol or other alcohols. For more information, visit http://www.vertimass.com/.
This information is neither an offer to sell nor a solicitation of an offer to buy any security by any person in any jurisdiction. Offers and sales shall be made only to persons who qualify as accredited investors under applicable U.S. federal law and only pursuant to a confidential offering memorandum (the “Memorandum”) and subscription documents setting forth definitive terms of each investment opportunity. An investment in a limited partnership involves a high degree of risk and is speculative as described in detail the Memorandum for each investment opportunity, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA / SIPC.
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 of Blue Biofuels
Ben@Bluebiofuels.com
Anthony Santelli, CFO of Blue Biofuels
Anthony@Bluebiofuels.com
Charles Wyman, CEO and President of Vertimass
cwyman@vertimass.com
John Hannon, COO of Vertimass
jhannon@vertimass.com
Bill Shopoff, Chairman of Vertimass
bshopoff@vertimass.com
SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com
