Corporate Banner
Satellite Banner
AgriGenomics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Cool Planet Energy to Further Develop Second Generation Biofuel Capability

Published: Thursday, October 31, 2013
Last Updated: Thursday, October 31, 2013
Bookmark and Share
Cool Planet Energy will further develop its capabilities in second generation biofuels following $19.4m of new funding, in addition to the $29.9m investment received in June this year.

Cool Planet Energy currently develop cellulosic “drop-in” biofuels for use in motor vehicles and aeroplanes in the United States. These “second generation” biofuels are made from non-food sources of biomass like crop waste or forestry by-products, rather than relying on conventional food crops like corn or sugar cane.

The new investment will fund engineering design for the first of three commercial facilities, with the hope of producing 10 million gallons of high-octane cellulosic gasoline by the end of 2014. The new facility will also allow for the production of biochar, which can be returned to soil to improve water retention, crop productivity and plant health. This process is ‘carbon negative’, reversing the consequences of fossil fuels by removing up to 150 per cent of CO2 for every gallon used.

Second-generation fuels have the advantage of utilising biomass which would not otherwise have been used for human consumption. Crops like switchgrass or miscanthus can potentially be grown on lands that are not suitable for growing food crops, needing little or no fertilizers or irrigation, reducing nutrient and water requirements. They also put less pressure on worldwide food prices, as seen with corn-ethanol production in the United States. 

So far, cellulosic technology has struggled to reach commercial viability, with costs of production relatively high in comparison to corn-based ethanol. However, a recent report by Bloomberg’s New Energy Finance (BNEF) found that second generation biofuels should become cost-competitive fuel solutions by 2016, with the costs of enzymes and processes associated with their production falling.  

Cool Planet Energy’s technology is clearly providing investors with confidence about its long term viability, attracting some of the industry’s biggest names, including investors from Hong Kong, Singapore, the United Arab Emirates and Mexico. Cool Planet is hoping to extend its distribution network all over the world, developing partnerships with key players in international markets:

“While equity markets remain closed to most biofuel businesses, investors are seeing a differentiated opportunity in Cool Planet. Our drop-in cellulosic gasoline and biochar technology has global potential,” said Cool Planet CEO, Howard Janzen. 

“A strong proof point for this potential is the impressive group of international investors who have participated in our equity raise, positioning the company for long-term growth globally,” he added. 

As investment in second generation fuels grows, producers like Cool Planet Energy will see their relative costs of production fall, which will allow further investment in productive capacity. Cellulosic fuels will then likely rival traditional biofuels like ethanol as a cost-effective source of renewable fuel. 

Robert Potts is the managing director of RPM Fuels, suppliers of tanks and equipment to the fuelling industry; check out his latest updates on Google+


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,100+ scientific posters on ePosters
  • More than 4,500+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
World’s Largest Coral Gene Database
‘Genetic toolkit’ will help shed light on which species survive climate change.
A Peachy Defense System for Seeds
ETH chemists are developing a new coating method to protect seeds from being eaten by insects. In doing so, they have drawn inspiration from the humble peach and a few of its peers.
Roundup Impacts Gene Expression
Study published on the impact of low-dose toxicity of Roundup weed-killer on gene expression profiles.
Meaningful Part of Maize Genome Defined
FSU-Cornell team show that a small percentage of the maize genome is responsible for 40 percent of a plant’s trait diversity.
Plant Stem Cell Discovery Points to Increased Yields
Braking signals from the leaves tell stem cells to stop proliferating.
Plasma Dose Improves Agricultural Crop Harvests
Researchers at Japan have developed a technique to improve crop yields by treating seeds prior to planting with a safe dose of plasma radiation.
TGAC Installs Largest SGI UV 300 Supercomputer for Life Sciences
The Genome Analysis Centre (TGAC) partners with Global HPC hardware giant SGI to address the most complex problems in genomics analysis.
Carrot Genome Uncovered
Carrot genome paints picture of domestication, could help improve crops.
Flowering Regulation Mechanism Discovered
Monash researchers have discovered a new mechanism that enables plants to regulate their flowering in response to raised temperatures.
Nanoparticles Present Sustainable Way to Grow Food Crops
Nanoparticle technology can help reduce the need for fertilizer, creating a more sustainable way to grow crops such as mung beans.
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,100+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,500+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!