People Following Jon M Queen's Blog

My Latest Tweet @ Twitter.com

Tuesday, March 20, 2012

Green Energy Firm Raises $12 Million For Renewable Gasoline Venture

Primus Green Energy Inc. (www.primusge.com), a firm that has developed a special process to produce gasoline from biomass and natural gas, recently announced it has finalized a $12 million investment funding by IC Green Energy Ltd. This recent funding adds to $28 million raised by the company since 2007. The company has a Norh Carolina test facility in operation and seeks to commence construction of a commercial production plant in 2013.

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.

Kind regards from Kiev,
Jon

Carbon Trading Videos

Loading...