Genesis Biofuel Announces Joint Venture
October 6, 2012
oulder, Colorado-based Genesis Biofuel, Inc, a designer and builder of carbon sequester and algal biodiesel refineries, has announced the signing of Memorandum of Understanding with Abundant Energy Solutions (AES) for the forming of a joint venture to engineer and construct Algal Biofuel Refineries. This venture will allow for their combined technology collaboration and also offer alternative energy production solutions for additional industries worldwide.
“We are delighted to be working with Abundant Energy Solutions. AES’s proven technologies in algae lighting, harvesting and oil extraction solutions, working with our processes, will tremendously increase and augment our overall output and efficiency. In addition our combined technologies will enable us to offer solutions to additional algal to biofuel alternatives such as utilizing waste water,” said Harvey A. Dorren, President & CEO of Genesis Biofuel, Inc.
Dr. Joe Nieusma, CEO AES, added, “AES is excited to partner with Genesis Biofuels on this project for a number of reasons. Our two companies are poised to advance algae to biofuel conversion as well as utilization of the resultant algae biomass as a feedstock for downstream cellulosic ethanol production. Proprietary technology in multiple steps of these processes will combine linearly to create very favorable results for the cement company, Genesis, AES and the green energy economy. The algae platform is the future of biofuel as both oil and cellulosic ethanol. Genesis Biofuel and AES are very well positioned to bring this technology to the world.”
The joint ventures first objective will be to complete their combined technology Demonstration Laboratory. The Lab is scheduled for completion by the end of this year and will be located in AES’s Research facility in Englewood, Colorado. This will lead to the construction of their Pilot Facility at a cement plant location, tentatively scheduled to begin first quarter 2013.
AES, an affiliate of Colorado Energy Research Technologies (CERT) is a research company whose purpose is to develop innovative scientific solutions and technologies to solve challenges related to energy production, distribution and utilization in all forms.
Focusing on the cement industry, Genesis Biofuel, Inc. sequesters CO2 directly from cement manufacturing plants, greatly reducing the greenhouse gas emissions from these facilities. In addition, the Genesis refineries utilize these gases to produce both Algal Biofuel for commercial and military diesel engines and Biomass, which can be used in Ethanol production.