Cool Planet Energy Systems First Company to Develop Carbon Negative Fuel at Projected Cost of Less Than $1.50 Per Gallon | Business Wire
By running on a 5% Cool Planet carbon negative fuel blended with 95% regular gasoline, the test car blend met California’s 2020 Low Carbon Fuel Standard – eight years ahead of schedule.1 The control car used 100% regular gasoline. The test car successfully passed 5 smog checks with no significant difference between cars.
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Cool Planet’s proprietary two-step thermal processing technology takes non-food biomass such as wood chips, agricultural waste like corn stover, or energy crops including giant miscanthus, and switch grass and converts it into useful hydrocarbons. A catalytic conversion is then utilized to complete the production. The end result is high-octane gasoline that is fully compatible with today’s standard automobiles and existing conventional fuel distribution systems.
“Unlike many other biofuel companies, Cool Planet’s carbon negative gasoline is price competitive because of the ingenuity behind our innovation. By mass producing mobile, pre-fabricated micro-refineries that are easily transportable to the biomass source, we significantly reduce costs of feedstock transportation, which maximizes our overall capital efficiency,” said Howard Janzen, President and CEO at Cool Planet Energy Systems. “Each micro-refinery is one hundred times smaller than a typical oil refinery and can produce 10 million gallons of fuel per year; this puts us in the running to compete with oil at $50 a barrel without any government mandates or subsidies.”
A byproduct of producing biofuel is the activated carbon, or biochar, which can be used as a soil enhancer increasing land fertility while isolating the carbon captured from the atmosphere. This comprehensive carbon negative process results in up to a 150% carbon footprint reduction2, far more than any other biomass-to-fuel method.