Cool Planet Signs Agreement with Acritaz Greentech
GREENWOOD VILLAGE, Colo. & SELANGOR, Malaysia--Cool Planet Energy Systems, a developer of small-scale bio refineries for the conversion of non-food biomass into biofuels and soil enhancing biochar, and Acritaz Greentech, a group of companies that bring biomass processing and bio-technology innovation to plantations, today announced that they have signed an agreement to explore the building of multiple commercial facilities in Malaysia. The plan is to begin construction on the first plant in 2014. Acritaz will work with Cool Planet to use biomass raw materials local to the region that include palm plantation waste products such as empty fruit bunches, wood, and bark waste to make renewable, cellulosic fuels for the Asian market.
“We chose Acritaz because we knew they have the desire to implement not only our first Asian plant, but also work to deploy our technology broadly across Malaysia.”
“We are pleased to be working with Acritaz Greentech, a group that is known for their technology leadership in biomass processing and bio-technology in Malaysia, to deploy our biofuels and biochar technology,” said Cool Planet CEO Howard Janzen, “This is another validation of our technology, as we begin to build partnerships that will commercially deploy our bio refineries outside the U.S.”
Acritaz will work to commit USD60 million to the first facility before the end of 2013. The first commercial facility is planned to be located in the Malaysian state of Johor. Acritaz and Cool Planet will then work to build multiple facilities across Malaysia, with Acritaz purchasing proprietary equipment and consumables from Cool Planet in the construction and operation of the facilities.
“Acritaz is excited to commercialize Cool Planet’s platform technology to bring drop-in fuels to the Malaysian fuel market,” said Looi Kem Loong, a Director at Acritaz. “This is the kind of breakthrough technology that Acritaz wants to deploy.”
Acritaz and Cool planet will develop a plant design that satisfies the specific needs of Malaysia, including feedstock selection, biochar production, and specification of the final fuel.
“We like the fact that Acritaz has a leading position in biotech, and has the vision to deliver the first international installation of our innovative biorefinery technology,” said Vital Aelion, Cool Planet’s head of international business development. “We chose Acritaz because we knew they have the desire to implement not only our first Asian plant, but also work to deploy our technology broadly across Malaysia.”