A Palm Beach Gardens company developing sustainable jet fuel just received a boost from the U.S Department of Energy.
Blue Biofuels was awarded a $1.15 million Phase 2 Small Business Innovation Research grant from the agency to fund the venture. The startup is behind a patented process that converts cellulose, a component found in plants, into sugars that are fermented into a bioethanol used for sustainable fuels. That includes sustainable aviation fuel and renewable gasoline.
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Sugarcane, corn stover, king grass and other plants are the source of the biofuels.
"This grant will allow us to accelerate the commercialization of our process, bringing us closer to providing a sustainable and economically viable alternative to fossil fuels," CEO Ben Slager said in a statement.
Plant-based biofuels release far fewer carbon emissions compared to petroleum jet fuel, a benefit for large aviation businesses that want to reduce their dependence on fossil fuels.
The Phase 2 grant follows a successful Phase 1, during which Blue Biofuels demonstrated the effectiveness of its cellulose-to-sugar process.
Blue Biofuels' renewable bio-gasoline has been registered by the Environmental Protection Agency to be sold as a 20% blend into gasoline, CFO Anthony Santelli told the Business Journal.
"We expect the sustainable aviation fuel to receive registration as a 10% blend into the aviation fuel by the end of the year," he said.
The company currently has six employees, with plans to hire more once it obtains financing to build its first commercial facility. Santelli said the business has raised about $20 million from investors.
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Blue Biofuels reports its technology will enable it to produce ethanol at a lower cost compared to traditional processes.
According to the company's pitch deck, 1 billion tons of biomass can be sustainably harvested each year in the U.S. alone. That could potentially make about 100 billion gallons of ethanol.
"Our goal is to play a significant role in reducing carbon emissions and promoting energy independence, and this funding is crucial in helping us achieve that vision," Slagler said.
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