Dec 14 2009
A Memorandum of Understanding was signed by PetroAlgae with Foster Wheeler AG’s Global Engineering and Construction Group. The intention of signing this memorandum is to combine the engineering services of Foster Wheeler AG’s Global Engineering and Construction Group with the micro-crop technology of PetroAlgae in order to produce dry biomass on a large scale.
PetroAlgae, along with Foster Wheeler, expects to create commercial solutions that will be used in oil refineries for the conversion of micro-crop biomass into bio-based fuels that can be mixed with petroleum-based fuels that are currently available. These commercial solutions are expected to impart economies of scale to existing refineries in the processing of micro-crop biomass from PetroAlgae into green fuels.
Both the companies will create comprehensive market solutions for the production of specialty chemicals, jet fuel, green gasoline and diesel on a large scale, as a result of this relationship.
Dr. John Scott, Chairman of PetroAlgae, remarked that the conversion process of biomass into green fuels will be optimized by the combination of Foster Wheeler’s refining and engineering expertise with its commercial-scale biomass technology. Scott expects this partnership to improve the fuel and petroleum replacement output besides providing the entire world with clean energy solutions.
Umberto della Sala, Chief Operating Officer and President of Foster Wheeler AG, remarked that Foster Wheeler has been a world leader in providing solutions to energy problems and the company will take steps towards educating refineries on the importance and benefits of converting biomass into green fuels.
Source: http://www.fwc.com/