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Released March 13, 2017 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Alliance BioEnergy Incorporated (West Palm Beach, Florida) is considering the acquisition of INEOS New Planet Bioenergy's cellulosic biofuel production facility in Vero Beach, Florida, to jump start commercial-scale production of second-generation biofuels.
The former Ocean Spray Cranberry plant was converted into a facility that used gasification fermentation technology to produce cellulosic biofuels from non-food feeststocks. The plant began producing some 8 million gallons per year after INEOS spent $9.75 million to acquire the plant in 2010 and roughly $130 million to build it in 2014.
INEOS put the facility on the market late last year, after it decided the economics no longer fit the company's long-term plans.
Biofuel technology provider Alliance sees an opportunity to utilize the plant's existing infrastructure and equipment to move quickly into commercial-scale production, instead of building a new plant from the ground up. Plus, the Vero Beach facility is only 70 miles from Alliance's corporate headquarters in West Palm Beach.
If an agreement can be reached and the acquisition is successful, Alliance could have retrofits completed and its patented CTS process technology up and running by mid-2018. CTS converts cellulosic material into simple sugars used in biofuel production.
Not only would Alliance benefit from the acquisition, the project would save jobs and keep the asset in play for local economic benefits. Alliance is wasting no time and just announced that Benjamin Slager, the current vice president of Business Development, was elevated to the position of chief technology officer to head up the implementation of the commercial-scale facility.
The asking price for the sale to Alliance of the advanced cellulosic biofuels facility, which is registered by the U.S. Environmental Protection Agency (EPA), has not been disclosed.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
The former Ocean Spray Cranberry plant was converted into a facility that used gasification fermentation technology to produce cellulosic biofuels from non-food feeststocks. The plant began producing some 8 million gallons per year after INEOS spent $9.75 million to acquire the plant in 2010 and roughly $130 million to build it in 2014.
INEOS put the facility on the market late last year, after it decided the economics no longer fit the company's long-term plans.
Biofuel technology provider Alliance sees an opportunity to utilize the plant's existing infrastructure and equipment to move quickly into commercial-scale production, instead of building a new plant from the ground up. Plus, the Vero Beach facility is only 70 miles from Alliance's corporate headquarters in West Palm Beach.
If an agreement can be reached and the acquisition is successful, Alliance could have retrofits completed and its patented CTS process technology up and running by mid-2018. CTS converts cellulosic material into simple sugars used in biofuel production.
Not only would Alliance benefit from the acquisition, the project would save jobs and keep the asset in play for local economic benefits. Alliance is wasting no time and just announced that Benjamin Slager, the current vice president of Business Development, was elevated to the position of chief technology officer to head up the implementation of the commercial-scale facility.
The asking price for the sale to Alliance of the advanced cellulosic biofuels facility, which is registered by the U.S. Environmental Protection Agency (EPA), has not been disclosed.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
