- Category: Biodiesel
13 Oct 2009
- Published on Tuesday, 13 October 2009 12:38
- Hits (1486)
New Generation Biofuels holds an exclusive license in North America, Central America and the Caribbean to commercialize its proprietary technology that produces biofuels from plant
oils and animal fats.
Florida-based renewable fuels provider New Generation Biofuels Holdings intends to strengthen its market position in the Caribbean through a partnership with Ace Biofuels of San Juan, Puerto Rico.
In a letter of intent, Ace Biofuels will produce New Generation’s renewable biofuels, and then market it to Puerto Rico’s manufacturing sector.
The manufacturing sector consumes over 30 million gallons of biofuels yearly, according to a market assessment study from the University of Puerto Rico.
Ace Biofuels will pay New Generation Biofuels a licensing fee for every gallon of biofuel produced and sold. Ace Biofuels also intends to construct a biofuel manufacturing facility in the country.
With over 2,300 diversified industrial plants in Puerto Rico, the initial targets for the biofuels are boiler applications in locations with limited access to natural gas.
“The whole of Puerto Rico is in the process of exploring a number of alternative and renewable energy options to decrease dependence on fossil fuels and help to decrease the impact that global warming could have on the island,” said Edgardo Fabregras Rios, president of Ace Biofuels.
The terms of the letter of intent are subject to the successful completion of a biofuel test in a Cleaver-Brooks boiler at a manufacturing site in Puerto Rico. New Generation will jointly manage the project to start producing the biofuel in the first half of 2010.
- Natassia Y. Laforteza