Aquaflow poised to make next-generation biofuels in commercial quantities

Aquaflow Bionomic Corporation, an energy company based in New Zealand, is bent on making refining next-generation biofuels a commercial reality in the country, as well as overseas, within the next three years. Aquaflow announced that it has entered into a technology cooperation agreement with CRI Catalyst Company (CRI). CRI owns global sublicensing rights to IH2 technology, which is a commercially viable process of producing renewable fuel. IH2 technology was developed by Gas Technology Institute (GTI). Aquaflow and CRI had previously worked together under a Joint Testing and Evaluation Agreement which brought together Aquaflow’s unique capability to transform algae, mixed and varied feedstocks, and CRI’s license to IH2 technology, with the goal of proving their commercial effectiveness in producing hydrocarbon fuel. “Aquaflow believes it now has a world-leading multi-biomass to biofuels capability and technology offering. This is a robust and highly integrated technology package which can leapfrog other biomass to biofuel technologies because it goes straight to blended fuel stock and avoids intermediate pathways,” Aquaflow Director Nick Gerritsen explained. He added, “We should be able to produce renewable hydrocarbon fuel that is equivalent to fossil fuel at a cost that is highly competitive with the current per barrel price of crude oil.” Gerritsen also said that New Zealand can turn its biomass into carbon-neutral biofuel in quantities that will enable the country to meet its renewable fuels’ requirement within the next 10 years. (April 18, 2012)