☰
One of the leading renewable fuel company, Gevo Inc., has reportedly signed a Joint Development Agreement with Leaf Resources, an Australian company which has expertise in converting plant biomass into industrial sugars. According to the agreement, the company plans to convert glycerol and sugars derived from plant cellulose to hydrocarbon molecules to explore its potential to convert into alternative fuels or chemicals.
Sources cite that the agreement will be carried out in three phases. The first phase will include investigating the project’s commercialization and exploring the feasibility of a potential facility. Moreover, both the companies will bear their own cost during this phase, whereas funding for remaining phases will be laid out in a written agreement in the future.
Patrick Gruber, CEO of Gevo, states that Leaf’s progress in Queensland and Malaysia and its comprehensive work related Glycell process creates the potential for a mutually beneficial relationship. He claims that Leaf, as a partner in the region, could help the company drive its strategy, further giving access to sugars as feedstock, fuel and chemical market in a rapidly growing economic region.
Gruber added that their firm is already supplying Virgin Australia with non-exhaustible jet fuel and has witnessed an added potential demand in Australia and Asia.
As per Leaf Resources CEO, Alex Backer, the company wants to explore the potential of renewable resources as alternative petroleum-based fuel with Gevo. He claims that, as the demand for alternative fuels will significantly increase in the coming years, this agreement will become beneficial for both the companies.
For the record, Gevo is a low carbon fuel company working towards commercialization and development of fuel-based renewable products. The company is focused on the production and development of mainstream fuels like jet fuel and gasoline using renewable feedstocks.
Djamo, the popular consumer finance app has reportedly secured $14 million from the renowned accelerator, along with three lead investors like Oikocredit, Enza Capital, and Partech Africa, and other participating investors, such as P1 Ventures, Janng...
A historic agreement has reportedly been made at the UN's COP27 summit that will see wealthy nations pay developing nations for the harm and economic losses brought on by climate change. Nations dealing with severe climate impacts have been wa...
According to a recently published report by the Canadian Centre for Policy, the hourly pay required for local employees to make ends meet has reportedly increased significantly in the Okanagan city of Kelowna. The living salary is the hourly salar...
© 2024 groundalerts.com. All Rights Reserved.
