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Tuesday, March 20, 2012
The company's proprietary technology takes synthetic gas (or "Syngas") derived from either biomass or natural gas gasification processes, and converts it to gasoline and other usable fuels. Its end products have been independently lab tested to generate the equivalent of 93 octane gasoline. Primus estimates that its fuel will sell at similar market prices as commercial gasoline once commercial production has begun.
Historically, syngas conversion has been challenging to bring into commercial production due to low efficiency conversion rates. But according to company sources, in the case of Primus's proprietary technology, the conversion rate can approach 33% which would make commercial production profitable and scalable.
Could this the the future of fuel at the pump? Time will tell! If things keep going on track, the company could consider conducting an IPO by 2014 if market conditions are favorable, according to sources.
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