PALM BEACH GARDENS, FL, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels has appointed Chris Kneppers, age 72 and a 5% shareholder, to fill a vacant seat on its Board of Directors.
Mr. Kneppers was educated in South Africa as a Mechanical Engineer. He has 45 years of experience in the Construction industry in several engineering disciplines with an emphasis in Cost Estimating. His experience includes involvement in a wide range of projects, including large civil works, diesel generation in power stations, and solar electric installations.
Mr. Kneppers was one of the Principals of MKA International, Inc. (formerly Madsen, Kneppers & Associates) and has been involved as Vice President and a Director in its day to day operations and development since 1989. MKA is a multi-disciplined Construction and Engineering Consulting firm. Mr. Kneppers recently stepped down from his position as Vice President and still serves as a Board Member of MKA. His role in the 33 years with MKA included establishing and developing offices, attracting and growing a client base, along with facilitating various technical disciplines within the company to address the needs of MKA clients.
In recent years, Mr. Kneppers has become increasingly interested in the development of sustainable and efficient energy solutions, has invested significantly in Blue Biofuels, and has taken a personal interest in eco-friendly aviation fuels as a private pilot.
Blue Biofuels’ management believes Mr. Kneppers is a strong addition to its board of directors due to his construction management skills and experience and his worldwide network of individuals and entities that may be utilized to facilitate development and expansion of our Company’s business. He will focus on business development in Europe and sharing his expertise in construction for Blue Biofuels going forward.
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 – like grasses or agricultural waste -- into sugars and lignin. Sugars are subsequently processed into biofuels and lignin may be further processed into specialty chemicals or ion exchange resins. 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 $2.43/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 revised mandate for cellulosic ethanol is 620 million gallons for 2021 and 770 million gallons for 2022.
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
