CleanTech Biofuels to Begin Producing Renewable Electricity
2008-07-28 15:05:00
CleanTech Biofuels to Begin Producing Renewable Electricity
ST. LOUIS, MO–(EMWNews – July 28, 2008) – CleanTech Biofuels, Inc. (
intends to use its proprietary technology at a commercial site in Chicago,
Illinois to produce cellulosic biomass as solid fuel for the production of
electricity. Beginning commercial production of biomass for electricity
will allow CleanTech to develop significant revenue more quickly than
originally anticipated.
Tests on the feasibility of using the biomass from CleanTech’s processes
for electricity production indicated that the energy value (or Btu value)
is approximately 75 percent that of coal. Testing also indicates that the
biomass has substantially less pollutants in emissions from combustion than
other refuse derived fuels and coal.
CleanTech believes that this approach will dramatically lower the cost of
its first commercial ethanol plant. By using the infrastructure it
constructs for electricity production to support cellulosic ethanol
production at the same site in the future, CleanTech believes that it will
be able to incrementally increase the amount of MSW processed at the site
daily to support both operations.
“We look at the application of biomass co-fired with coal as the low
hanging fruit that can be done commercially right now,” said Ed Hennessey,
CleanTech CEO. “Coal prices have increased dramatically in recent years and
that has increased the value of the energy content in our biomass.”
Hennessey further added, “We are looking to develop a plant in Chicago
using the biomass as solid fuel to produce electricity with traditional
debt and bond financing to fund a significant part of the development
costs. When our cellulosic ethanol conversion technology is ready for
commercial implementation, we hope to use the infrastructure at the
existing plant to add a cellulosic conversion plant to the same site.”
About CleanTech Biofuels, Inc.
CleanTech Biofuels, Inc. is a development stage company with technology
that the company believes is capable of converting municipal solid waste
into ethanol and other energy products. By using the existing
infrastructure for municipal solid waste collection and disposal to collect
biomass at low or possibly negative feedstock cost, the Company expects to
achieve profitability quickly relative to other ethanol and alternative
energy producers who must develop their infrastructure to collect and
transport more expensive feedstocks such as sugar cane, corn or even
switchgrass, wood waste, or corn stover.
Safe Harbor:
This release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The risks and
uncertainties that may affect the operations, performance development, and
results of the Company’s business include but are not limited to
fluctuations in financial results, availability and customer acceptance of
our products and services, the impact of competitive products, services and
pricing, general market trends and conditions, and other risks detailed in
the Company’s SEC reports.
Contact: Ed Hennessey CleanTech Biofuels, Inc. 314.802.8670 |
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