20 February 2012
Overview
SucreSource,
a wholly owned subsidiary of BlueFire Renewables, Inc.,
has signed agreements with GS Caltex, a Korean company,
to build a cellulose to sugar plant in Korea.
This agreement validates
SucreSource's business model of selling
cellulosic sugars and, as in the case,
sugar producing process
to synergistic back end proprietary chemical companies
to produce high value products.
As a major petroleum producer, GS Caltex is a perfect
partner with which to initiate the business build out.
Korea, like the U.S., China and several other nations.
is moving out from food-based sugars to produce
high-end products such as
* Biobutanol
* Ethanol
* Ethyl levulinate
* and various other chemicals
SucreSource is a first mover in this space and has the proven
technology to meet the increasing cellulosic sugar demand head-on
About pilot production facility
This facility is the first of many to be built.
This facility will process 2 tons of contruction and demolition
debris into cellulosic sugar,
which will be converted into a high value chemistry by
GS Caltex's proprietary technology,
This facility will be owned and operated by GS Caltex
with SucreSource providing the process design package,
equipment procurement and technical and engineering support.
Once the initial facility is validated, SucreSource will work with
GS caltex to develop and build larger commercial scale facilities
in Korea and throughout the world.
Both parties agree that this is the first step towards
commercial deployment of cellulosic chemicals in South Korea and
potentially, their trading partners.
SucreSource and GS Caltex have already commenced work on
the project.
SucreSource is actively pursuing other partnership opportunities
and hopes to announce more relationships soon.
