35.5-acre site to support future expansion of up to 200 million gallons of annual biofuel production
PALM BEACH GARDENS, FL, Feb. 04, 2025 (GLOBE NEWSWIRE) — Blue Biofuels, Inc. (OTCQB: BIOF).
Blue Biofuels is pleased to announce the signing of an agreement to acquire 35.5 acres of land in Frostproof, Florida, marking a significant milestone in the company’s commercialization efforts. The site will house a cutting-edge production facility designed to produce an initial 3 million gallons of biofuel annually. The infrastructure and available land can support future expansion to 100 million gallons per year of cellulosic ethanol and 100 million gallons per year of Sustainable Aviation Fuel (SAF).
The property, located in Polk County, one of the fastest-growing counties in Florida, is in the heart of Central Florida’s agricultural region, offering access to an abundant supply of biomass feedstock. It is also strategically located in the proximity of The Port of Tampa, which will facilitate efficient logistics by rail and road for biofuel transportation.
Blue Biofuels is working closely with Global Management Partners (GMP) to develop the design and engineering plans for the first phase of the facility. This collaboration ensures a strong foundation for the company’s state-of-the-art biofuel production plant.
Beyond advancing clean energy innovation, this project is expected to bring substantial economic benefits to the Frostproof community. The construction phase will generate approximately 150 jobs with additional permanent high-skilled roles once the facility becomes operational.
The location’s surrounding orange groves, many of which are no longer in full production, present an opportunity to be converted into King Grass cultivation—one of Blue Biofuels’ key energy crops. King Grass serves as a sustainable biomass source that supports renewable energy initiatives while contributing to reducing greenhouse gas.
Construction of the facility, capable of converting 3 million gallons of ethanol to SAF annually is expected to begin in 2025. Subsequent expansions will enable Blue Biofuels to meet the growing demand for renewable fuels on a larger scale.
“This land acquisition is a big step forward in our journey towards commercialization,” said Ben Slager, CEO of Blue Biofuels. “We are very excited to start this project and develop our production facility leveraging our innovative technology. With the potential to scale production to 200 million gallons of renewable fuel annually, this facility will demonstrate the viability of our technology and reinforce our commitment to driving sustainable energy solutions. We also look forward to working with local farmers and suppliers to support regional economic development and growth while advancing the transition to a cleaner energy future.
About Blue Biofuels, Inc.
Blue Biofuels is based in Florida and has the goal to produce biofuels through its patented Cellulose-to-Sugar (CTS) technology and its licensed Vertimass technology as well as in VertiBlue Fuels, LLC, its 50:50 joint venture with Vertimass. CTS is a sustainable, and renewable green energy system with the potential to achieve a near-zero carbon footprint. The CTS process can convert cellulose from virtually any plant material – grasses, forestry products, and agricultural waste such as sugarcane bagasse and wheat straw — into sugars that are subsequently processed into biofuels, such as ethanol and, through the Vertimass Process, into sustainable aviation fuel.
The CTS process is a patented and proprietary technology wholly owned by Blue Biofuels. Blue Biofuels’ CTS technology represents significant progress in renewable energy, offering a sustainable solution that reduces reliance on food crops for ethanol production. By utilizing abundant and renewable biomass sources such as king grass, sugar cane bagasse, and corn stover, the company is positioned to contribute meaningfully to the global transition toward cleaner energy. This versatility allows the company to take advantage of feedstock variability in different locations around the US and the world.
Special Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Contact:
Ben Slager, CEO and Chairman
[email protected]
Anthony Santelli, CFO
[email protected]
