Alliance BioEnergy Plus Inc., West Palm Beach, Florida, has announced it has entered into a non-exclusive development agreement with Renewable Resources Development of America LLC (RRDA) for the construction and operation of up to 56 cellulose conversion plants both domestically and abroad utilizing the company’s licensed, patented CTS technology. According to the company, it can convert multiple types of cellulosic waste including corn stover, plant debris, Vidalia onions, and several all types of wood, including mulch in it process.
RRDA, based in Georgia, has a background in construction, finance, municipal solid waste recovery, plastics, metals and papers recycling. The company's background also extends to chemical extraction from or for manufacturing, and cellulose material conversion into sugars for the manufacturing of biofuels, bioplastics and other products. They are also developing business facilities using cellulose conversion technology.
It is anticipated that the first CTS plant, under the agreement, will be located in central Georgia, breaking ground this fall and will process up to one thousand metric tons a day of agriculture and forestry waste. RRDA is in advanced negotiations with local municipalities and expects to be fully operational by the second quarter of 2016.
In addition, RRDA and the company have entered into an agreement whereas RRDA will invest $4 million into the company in exchange for a 10 percent ownership stake in the company, 2 million warrants and a license to the first commercial plant to be built by RRDA in Vidalia, Georgia.
The company will use the funds to complete engineering, automate its demonstration facility in Longwood, Florida, and file additional patents to accentuate its current family of patents. RRDA and the Alliance Bioenergy Plus will work together to complete the first commercial plant and develop additional plants under the agreement in the coming months.
Daniel de Liege, CEO of Alliance Bioenergy Plus, says, “We are extremely excited that the first commercial plant is being designed and will be up and running early next year.”
CTS technology is able to produce sugars, various fine chemicals, plastics, carbon fibers and other valuable products from virtually any plant material, wood or paper by product, fruit casings or biowaste, the company says.
