BATON ROUGE, La., March 9 /PRNewswire-FirstCall/ -- Albemarle Corporation (NYSE: ALB), a global developer and manufacturer of innovative catalysts and sustainable clean energy solutions will participate in the National Advanced Biofuels Consortium (NABC) that will conduct research to develop clean sustainable transportation fuels. Participants in the Consortium include scientists and engineers from universities, government and leading industry companies such as UOP, BP, Tesoro and Albemarle. Steven Chu, Department of Energy Secretary, announced on January 15, 2010 that the project will receive up to $33.8 million funding under the American Recovery and Reinvestment Act for advanced biofuels research.
The NABC, led by the National Renewable Energy Laboratory and Pacific Northwest National Laboratory, will conduct cutting-edge research to develop infrastructure compatible, biomass-based hydrocarbon fuels. The result will be a sustainable, cost-effective production process that maximizes the use of existing refining and distribution infrastructure for the development of clean sustainable transportation fuels.
"By collaborating with leading industrial and scientific institutions, we can remove barriers to commercialization of new catalysts for the conversion of biomass to biofuels. Our expertise and experience in creating novel catalysts will be crucial in developing these processes", said Edgar Steenwinkel, global business director of Albemarle's Alternative Fuel Technologies division. "This new project will play a key role in Albemarle's efforts to help drive a clean energy economy."
Albemarle's Alternative Fuel Technologies Division is focusing on the development and commercialization of new breakthrough catalysts and technologies for the conversion of biomass into clean, sustainable transportation fuels. Activities in various stages of development are in the field of catalytic pyrolysis, pyrolysis oil upgrading, syngas conversion and the conversion of biomass intermediates to green fuels and chemicals
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a leading global developer, manufacturer, and marketer of highly-engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. The Company is committed to global sustainability and is advancing its eco-practices and solutions in its three business segments, Polymer Solutions, Catalysts, and Fine Chemicals. Albemarle employs approximately 4,000 people and serves customers in approximately 100 countries. To learn more, visit www.albemarle.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Albemarle Corporation's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
SOURCE Albemarle Corporation