2014

Primus Green Energy to Support Gas-to-Liquids Research at Princeton University

HILLSBOROUGH, N.J. and PRINCETON, N.J., March 27, 2013 /PRNewswire/ -- Building on its firm commitment to alternative fuels research and development, Primus Green Energy Inc., an advanced alternative fuel company based in Hillsborough, N.J., today announced it will provide financial support to engineers at Princeton University for general research on synthetic fuels, which will include assessments of various gas-to-liquids (GTL) technologies for sustainability and economic viability.

Primus' STG+ technology converts syngas derived from natural gas and/or biomass into drop-in high-octane gasoline and jet fuel with industry-leading process efficiencies. The fuels produced from the Primus STG+ technology are very low in sulfur and benzene compared to fuels produced from petroleum, and they can be used directly in vehicle engines as a component of standard fuel formulas and transported via the existing fuel delivery infrastructure.

"Primus is always looking for opportunities to support academic research on issues that impact our business and our commercialization efforts," said George Boyajian, vice president of business development at Primus Green Energy. "Chris Floudas is one of the premier experts in the field of gas-to-liquids technologies, and we believe that his research will play a key role in identifying important developments and financial differentiators among GTL technologies, especially as they relate to our STG+ technology."

The work at Princeton University will be conducted in the laboratories of Professor Christodoulos Floudas, Ph.D. Floudas is an expert in chemical process systems engineering, with a specific emphasis on process synthesis and design, interaction of process design and control and process operations. His research has garnered him academic and industry-wide recognition, including the 2001 Professional Progress Award from the American Institute of Chemical Engineers (AIChE), the 2006 Computing in Chemical Engineering Award from the CAST Division of AIChE, and the Presidential Young Investigator award from the National Science Foundation. He was elected in 2011 to the National Academy of Engineering.

"Primus' STG+ platform is a next-generation gas-to-liquids technology that has the potential to have a significant impact on process efficiency standards and economic viability in the alternative fuels industry," said Floudas, Princeton's Stephen C. Macaleer '63 Professor in Engineering and Applied Science. "As part of my research, I will be comparing STG+ to other leading GTL platforms against a variety of metrics, including financial, technical and sustainability."

Primus Green Energy estimates that the cost of production for its fuels will be competitive with petroleum-based fuels when crude oil is trading at $65 per barrel (oil is currently trading at approximately $95 per barrel). Primus is nearing completion of its demonstration plant, which is expected to reach mechanical completion in Q2 2013, and expects to break ground on its first commercial plant in the first half of 2014.

Primus is also an adviser to the Northeast Woody/Warm-season Biomass Consortium (NEWBio), a group led by Pennsylvania State University that is tasked with developing perennial feedstock production systems and supply chains for biomass feedstocks. NEWBio is supported by a nearly $10 million grant from the U.S. Department of Agriculture.

About Primus Green Energy, Inc.
Headquartered in Hillsborough, N.J., Primus Green Energy has developed an innovative renewable drop-in fuel technology that produces high-octane gasoline or jet fuel that can be used directly in engines as a component in standard fuel formulas without costly engine modifications or changes to the fuel delivery infrastructure. The Primus Green Energy STG+ technology is a proprietary version of proven commercial technologies to convert syngas derived from biomass and/or natural gas to liquid transportation fuels such as gasoline, diesel and jet fuel. Primus Green Energy's technology has recorded the highest conversion efficiency rate in the industry. Primus Green Energy is funded by IC Green Energy, the renewable energy arm of publicly traded Israel Corp. For more information, visit www.primusge.com.

SOURCE Primus Green Energy, Inc.



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