PALM BEACH GARDENS, FL, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (PINK: ALLM).
Alliance BioEnergy Plus Inc., (“Alliance”) announces it has leased 18 acres of land in Southwest Florida to establish a test plot to optimize the production of Giant King Grass as a renewable cellulosic feedstock.
Giant King Grass grows year-round, up to 20 feet in height, and can be harvested multiple times for an annual production of up to 44 tons per acre of cellulosic feedstock, which has a composition similar to corn stover (another cellulosic feedstock). However, corn stover produces only 3.5 to 5 tons per acre and can be harvested only once per year. The Giant King Grass advantage in tons-per-acre-harvested will dramatically reduce the total acreage needed to supply feedstock to a given sized facility. Most importantly, the harvest can be staggered throughout the year thereby substantially reducing the need for large amounts of feedstock storage common to other crops. Finally, it will also produce for at least 5-7 years before needing to be replanted. Alliance believes these are game changing advantages for Giant King Grass as a cellulosic feedstock.
These acres provide the Company a large test plot to establish and monitor the growth, maturity, and harvesting of Giant King Grass to properly plan for its use at commercial scale. It also allows the Company to showcase production and harvesting methods to farmers so they can be confident in growing Giant King Grass on their lands in Florida.
Further the Company plans to harvest the Giant King Grass from these acres from time to time for use in its 4th generation Cellulose-to-Sugar (“CTS”) prototype that is now being tested. The leased acres have an established stand of Giant King Grass, which is sufficient to provide the Company with consistent feedstock to continue testing and upscaling the Company’s revolutionary green renewable energy technology.
“These acres not only provide sufficient quantities of feedstock for our current needs; they also enable Alliance to establish a new, profitable cash crop for Florida’s farmers as we commercialize our renewable biofuels process. We believe there are a sufficient number of underutilized or abandoned acres to grow large quantities of Giant King Grass for our future use and to benefit the Florida Agricultural Economy. ” says CEO Ben Slager.
ABOUT OUR CLEAN TECHNOLOGY
CTS technology 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 lignin 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 has a near zero carbon footprint. CTS is the fully owned and independently developed proprietary process of Alliance BioEnergy Plus.
It is important to note that any bio-fuel originating from the CTS process would receive the generous D3 cellulosic Renewable Fuel Credits (“RINs”) from the US Government. The D3 RIN is currently $1.46/gallon of ethanol, which is in addition to the market price of ethanol. This incentive is offered to all domestic cellulosic fuel producers whose fuel is used in the transportation market, up to the 590 million gallon mandate for 2020.
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