PetroAlgae partners with CRI Catalyst develop renewable fuel

PetroAlgae partners with CRI Catalyst to develop renewable fuel

4:11 PM, 14th July 2011
PetroAlgae partners with CRI Catalyst to develop renewable fuel
Anthony Tiarks, CEO, PetroAlgae.

MELBOURNE, US: PetroAlgae Inc has entered into an agreement with CRI Catalyst Company LP (CRI) to use Integrated Hydropyrolysis and Hydroconversion technology (IH2) for the conversion of PetroAlgae’s micro-crop residues into renewable fuels. Successful combination of the two technologies results in an integrated system that produces cellulosic gasoline, diesel, and jet hydrocarbon fuels and/or premium blend stocks that are virtually indistinguishable from petroleum based fuels.

CRI has obtained exclusive global sublicensing rights for IH2 technology from Gas Technology Institute (GTI) where the technology was developed.

This agreement is a direct result of successful tests converting PetroAlgae’s micro-crop residue into cellulosic hydrocarbon fuels and/or blend stocks using the IH2 technology provided by CRI. Commercial collaboration has already begun and is expected to result in a joint marketing agreement between the two firms.

“Based on the joint work so far, we believe our mutual solutions are ready to work together in an integrated conversion process for the direct conversion of biomass to green fuels at commercial scale. Our licensees will soon have the option to produce renewable transportation fuels in collaboration with a refinery or the PetroAlgae micro-crop farm as a self-contained renewable fuel production facility,” said Anthony Tiarks, CEO of PetroAlgae.

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