"Tax-advantaged bio-oil co-processing could be the answer to an unprecedented environmental disaster and fire threat—over 100 million dead trees in California caused by drought and beetle infestation," said NCI Chairman Jonathan Braun. "The tax credit would provide oil refineries with an incentive to support renewable liquid fuels in a way that would benefit the environment and create and preserve jobs in rural and other areas in a broad range of industries, including manufacturing, forestry, energy, engineering, construction and transportation."
NCI plans to build job-creating Rural Economic Development Renewable Fuels Centers in California, New York, Florida, Oklahoma and other states to manufacture bio-coal for export to Japanese and other overseas power plants and bio-oil for oil refineries and other industrial customers. Bio-coal is a drop-in fossil coal substitute for co-firing in coal power plants. Bio-oil is a petroleum substitute that can be co-processed in oil refineries or combusted to heat buildings or generate electricity.
Bio-oil is produced by a process called pyrolysis; bio-coal, by torrefaction, which is a mild form of pyrolysis. NCI's selected bio-coal and bio-oil technologies are commercially proven and guaranteed by large engineering, procurement and construction companies. Woody biomass, the feedstock for manufacturing both bio-oil and bio-coal, is an abundantly available, rural American resource.
Contact: Jonathan Braun, 802-375-7504
Website email: http://www.nextcoal.com/contact
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nextcoal-international-urges-incoming-trump-administration-to-suspend-unregulated-rins-trade-and-provide-oil-refineries-with-a-revenue-neutral-2-per-gallon-bio-oil-co-processing-tax-credit-300370389.html
SOURCE NextCoal International, Inc.