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 2,900+ scientific posters on ePosters
  • More than 4,200+ 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
New Method Promises to Speed Development of Food Crops
A new study addresses a central challenge of transgenic plant development: how to reliably evaluate whether genetic material has been successfully introduced.
Where Cancer Cells May Begin
Scientists use fruit fly genetics to understand how things could go wrong in cancer.
Key Enzyme in Pierce’s Disease Grapevine Damage Uncovered
UC Davis plant scientists have identified an enzyme that appears to play a key role in the insect-transmitted bacterial infection of grapevines with Pierce’s disease, which annually costs California’s grape and wine industries more than $100 million.
Bacteria Attack Lignin with Enzymatic Tag Team
Team from Rice, University of Wisconsin-Madison shows how nature handles lignin.
Milestone Resource in Wheat Research Now Available for Download
Leading on from The Genome Analysis Centre’s (TGAC) previous announcement of their new bread wheat genome assembly, the landmark resource is now publically available to download at the European Bioinformatics Institute’s (EMBL-EBI) Ensembl database for full analysis.
Nano-Reactor for the Production of Hydrogen Biofuel
Combining bacterial genes and virus shell creates a highly efficient, renewable material used in generating power from water.
Cleaning Wastewater with Pond Scum
A blob of algae scooped from a fountain on South Street almost two years ago, has seeded a crop of the green stuff that Drexel University researchers claim is more effective at treating wastewater than many of the processes employed in municipal facilities today.
Global Reductions in Mercury Emissions Should Lead to Billions in Economic Benefits for U.S.
Benefits from international regulations may double those of domestic policy.
A Worm with Five Faces
Max Planck scientists discover new roundworm species on Réunion.
A Gene for New Species is Identified
A University of Utah-led study identified a long-sought “hybrid inviability gene” responsible for dead or infertile offspring when two species of fruit flies mate with each other.
Skyscraper Banner

Skyscraper Banner
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
2,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,200+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!