Aug 21, 2017, 15:15 ET
IRVINE, Calif., Aug. 21, 2017 /PRNewswire/ -- Vertimass LLC announced today completion of intermediate technology validation from the U.S. Department of Energy's Bioenergy Technology Office (BETO), which verified performance against negotiated milestones, provided progress on scale-up, and reviewed Vertimass' estimated cost for their transformative catalytic technology.
Vertimass believes this BETO verification paves the way for Vertimass to move to the engineering scale of this important technology for converting sustainable ethanol into fungible gasoline, diesel, and jet fuel blend stocks and the chemical building blocks benzene, toluene, and xylene (BTX). This new Vertimass pathway can enhance use of biomass-derived renewable fuels that lower greenhouse gas emissions and allow ethanol producers to expand their product portfolio to include renewable hydrocarbons, which are compatible with the existing fuels and chemicals infrastructure, as well as ethanol.
"We are excited to clear this critical scale-up milestone with the Department of Energy and look forward to moving our novel process closer to commercial reality," said Dr. Charles Wyman, Vertimass president and chief executive officer. "This technology allows ethanol producers the ability to virtually eliminate the ethanol blend wall that now impedes market growth for sustainable fuels, and to produce renewable hydrocarbons. The result can be significant expansion in production of renewable fuels and chemicals while maintaining a low greenhouse gas footprint in the process."
According to COO John Hannon, one of the major advantages of Vertimass technology is the low capital cost to ethanol producers. He added, "These systems can be added to existing ethanol producers' facilities at fractions of the cost of a new facility while providing product flexibility that can adapt to changing market conditions. Producers can capitalize on the value this novel technology brings to the market." CEO Wyman added, "The Vertimass technology avoids significant implementation costs usually associated with scaling up technologies by working with our scale-up experienced partner TechnipFMC to leverage their catalytic scale-up facilities and expertise."
Vertimass Chairman Bill Shopoff also comments, "By breaking through the ethanol blend wall, this technology opens the door for massive job creation ranging from corn and cellulosic feedstock collection and logistics supply, to plant construction and operation."
About Vertimass LLC
Vertimass LLC is based in Irvine, Calif. The mission of Vertimass LLC is to develop and widely license breakthrough technologies that substantially expand the use of sustainable transportation fuels that reduce greenhouse gas emissions and improve energy security and domestic economies. Commercialization will lead to the widespread use of proprietary Vertimass technology for low cost production of sustainable transportation fuels that can overcome the blend wall that currently impedes expansion of sustainable fuels production and open up new large fuel markets for aircraft and heavy duty vehicles from multiple sources of biomass. For more information, visit http://www.vertimass.com/
This is neither an offer to sell nor a solicitation of an offer to buy any security. Such an offer may only be made by means of an offering document that must accompany or precede this information. There is no assurance that this strategy will succeed to meet its objectives. All investments have risk including loss of investment; please see the risk factors section of the offering document. Securities offered through © 2017 Shopoff Securities, Inc. Member FINRA/SIPC.
SOURCE Vertimass LLC
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