WEST PALM BEACH, Fla., June 30, 2016 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (OTCQB:ALLM) (the "Company"), is pleased to announce that it has received an LOI from Smart Business International Trading, S.A.S (Smart Business) of Bogata, Columbia for the purchase of an initial sub-license to install and use ALLM’s patented CTS cellulose conversion technology. A single plant sub-license carries a $5,000,000.00 sub-license fee plus a yearly royalty based on the plant’s gross sales, up to a maximum of six (6%), to be paid to Carbolosic for the duration of the sub-license. According to the LOI, Smart Business intends to build this initial CTS plant with the capability of processing 1,000 tons a day of agricultural waste into sugars and other products for domestic consumption within Columbia. The terms of this sub-license agreement are in the process of being finalized, at which time Smart Business will be required to pay a deposit towards the total sub-license fee.
Smart Business is a leading agricultural equipment import/exporter in South America and broker of renewable biofuels and bioplastics. According to Smart Business, the funding has been secured for the development, design and construction of this CTS plant.
Columbia falls under the international territory owned by Carbolosic, LLC which is mutually controlled by Alliance’s subsidiary AMG Energy Group and Thor Renewable Energy Singapore. All revenues and royalties will be shared equally between the parties.
About ALLM:
Alliance BioEnergy +, Inc. (“ALLM”) is a publicly traded company focusing on the commercialization and licensing of a patented cellulose conversion technology that it controls through a master license agreement with the University of Central Florida. ALLM’s subsidiary, AMG Energy Group, LLC (“AMG”), owns 50% of Carbolosic, LLC, in a joint venture with Thor Renewable Energy Singapore. Carbolosic holds the exclusive, worldwide license to three (3) issued patents and fifteen (15) filed and pending patents revolving around the core CTS (cellulose to sugar) technology. ALLM also holds the exclusive CTS rights to North America (Canada, US, and Mexico) and Africa.
The CTS process is the only known patented, dry mechanical process that can convert virtually any cellulose material into sugars and other products in a matter of minutes with no liquid acids, no applied heat, pressure or hazardous materials of any kind. The CTS process when used in the production of Ethanol is clean, less expensive to build and operate than traditional ethanol plants or other cellulose ethanol technologies and is completely environmentally friendly.
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