PALM BEACH GARDENS, FL, March 26, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels Inc. ("BIOF") continues to make substantial strides in advancing its Cellulose-to-Sugar (CTS) technology towards commercial scale. The company has achieved a significant milestone by successfully producing its first batch of cellulosic ethanol, utilizing the cellulosic sugars created from biomass on its CTS pilot line.
Bolstering its technological leadership, BIOF has been granted two US Patents, with an additional six patents currently pending. These patents underscore BIOF's commitment to proprietary advancements, strongly positioning the company in the biofuels landscape. BIOF remains dedicated to expanding its patent portfolio as it continues to upscale and commercialize its process.
Entering into the next phase, BIOF has embarked on the funding process to establish production capacity for Sustainable Aviation Fuel (SAF) in collaboration with Vertimass. BIOF is evaluating prospective locations in Florida capable of accommodating both SAF and cellulosic ethanol production facilities.
Building upon existing partnerships, BIOF is also engaged in multiple discussions to expand its off-take agreements for biofuels. In addition to its established off-take arrangement with World Energy Sustainable Products, LLC, BIOF remains committed to forging new partnerships to meet the growing market demand for sustainable energy solutions.
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.
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
Ben@Bluebiofuels.com
Anthony Santelli, CFO
Anthony@Bluebiofuels.com
SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com
