Blue Biofuels Receives $1.15 Million Department of Energy Phase 2 Grant
BLUE BIOFUELS INC (BIOF)
Company Research
Source: GlobeNewswire
PALM BEACH GARDENS, FL, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels is thrilled to announce that it has been awarded a Phase 2 Small Business Innovation Research (SBIR) grant from the U.S. Department of Energy amounting to $1.15 million. This significant funding will support the final stages of scaling the company’s patented Cellulose-to-Sugar (CTS) process, a groundbreaking technology that efficiently converts plant-based cellulose into sugars, which are fermented into ethanol to be used as sustainable biofuels. This Phase 2 grant follows the successful completion of Phase 1, where Blue Biofuels demonstrated the feasibility and effectiveness of its CTS process, paving the way for this Phase 2 grant. CEO Ben Slager expressed his enthusiasm for this milestone, stating, "We are very grateful to the Department of Energy for their continued support and confidence in our CTS technology. This grant will allow us to accelerate the commercialization
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News
- Blue Biofuels Engages Engineering Company GMP to Start Engineering & Design for Cellulosic Ethanol Production FacilityGlobeNewswire
- Blue Biofuels Produces Ethanol in High Yield from Multiple Feedstocks in its Upscaled CTS Process [Yahoo! Finance]Yahoo! Finance
- Blue Biofuels Produces Ethanol in High Yield from Multiple Feedstocks in its Upscaled CTS ProcessGlobeNewswire