Aquaflow poised to fire up Next Generation biofuels

Aquaflow poised to fire up Next Generation
biofuels refining in NZ

Cooperation with CRI Catalyst Company opens way for investment in multi-biomass to biofuel infrastructure

AUCKLAND. NZ, April 18, 2012:

Kiwi clean energy company Aquaflow Bionomic Corporation believes it is poised to make refining next generation biofuels a commercial reality in New Zealand and in overseas projects within three years.

Aquaflow announced today it has executed a technology cooperation agreement with CRI Catalyst Company (CRI). CRI has exclusive global sublicensing rights to IH2 technology, a commercially viable renewable fuel process developed by Gas Technology Institute (GTI), which is ready for infrastructure investment.

The companies had been working together previously under a Joint Testing and Evaluation Agreement to bring together Aquaflow’s unique capability with algae, mixed and varied feedstocks, and CRI’s license to IH2 technology, to prove their commercial effectiveness in producing hydrocarbon fuel.

Aquaflow director Nick Gerritsen explains “Aquaflow believes it now has a world-leading multi-biomass to biofuels capability and technology offering. This is a robust and highly integrated technology package which can leapfrog other biomass to biofuel technologies because it goes straight to blended fuel stock and avoids intermediate pathways.

“We should be able to produce renewable hydrocarbon fuel that is equivalent to fossil fuel at a cost that is highly competitive with the current per barrel price of crude oil.”

Gerritsen says New Zealand could turn its biomass into enough carbon-neutral biofuel to meet its renewable fuels’ requirement within ten years.

“While this could be achieved without carbon taxes or Government subsidies, we believe this is nationally significant and the NZ Government’s support is welcome.”

The technology could be replicated in other parts of the world where suitable feedstocks and waste streams exist.

“We believe this is a game changer. The current estimation of the IH2 process economics suggests it to be among the most economical for renewable hydrocarbon fuel production. The combination of Aquaflow multi-biomass feed and CRI IH2 technologies means that any biomass – algae, wood waste, agricultural waste such as vine prunings, invasive weeds like gorse or broom and solid waste, can be turned into renewable transport fuels.”

“The technology is self-sufficient and means that regional fuel refining is now a real possibility. New Zealand has the opportunity to take advantage of this breakthrough.
The ability to produce our own commercially viable biofuels which integrate with current infrastructure would increase our economic competitiveness, improve our environmental performance and reduce our reliance upon imported crude oil. Benefits would flow through our economy in terms of new jobs and boosts to regional businesses.”

Gerritsen says the next step is to secure the investment needed to build the organisational capability and capacity to execute the company’s project pipeline.

“Plans to demonstrate IH2 technology at the 5-200t/d scale are currently underway. We have a viable technology that’s “ready to go” and that’s what investors are looking for.

“Aquaflow is leading the way with the seamless integration of algae into a variety of feedstocks to produce drop-in fuels and chemicals. This approach gives us the flexibility to develop a multi-biomass feedstock mix specific to available resources worldwide. Aquaflow believes this is a breakthrough for biofuels and a significant advance for algae-based renewable fuels.

”Reaching this stage is a significant achievement for Aquaflow, which has been operating ‘under the radar’ as it worked on the multi-biomass approach and lined up the projects,” comments Gerritsen.

New directors appointed
Aquaflow recently welcomed Roger Gower and Anake Goodall to its Board.

Anake Goodall was chief executive officer of Te Rūnanga o Ngāi Tahu from 2007 until 2011, and before that managed Ngāi Tahu’s historical Treaty settlement process. He has held various positions across his career, ranging from union representative in the freezing industry to founding member of a credit union to owner of a plant nursery and farm forestry contracting business in Northern Southland.

Anake has experience in management and organisational leadership and is particularly interested in the use of strategy to align environmental, institutional and economic assets to realise intergenerational community objectives. He is also a director of Meridian Energy, a member of the Environmental Protection Authority, an Adjunct Professor at the University of Canterbury, and is an independent consultant to public and private sector clients.

Roger is an experienced executive and company director. He was an executive at Air New Zealand responsible for their freight business and formerly head of the Freight Group of Tranz Rail, where he was on the team that made the successful global float of Tranz Rail on the NASDAQ in 1995. He is currently director and chairman of PrimePort in Timaru and listed entity Orion Minerals Group and a number of private companies.

Roger graduated from Cambridge University with an M Phil, having written his thesis on high tech spin-outs.

He has a management consultancy business providing strategic advice and capital to start-ups, advice to Boards of Directors and policy advice to government departments.

Previous roles included listing Charlies Trading Company as chairman, director of Ports of Auckland and he has held directorships with CCOs in Auckland and Manukau City.

Ends

About Aquaflow
Based in Nelson, New Zealand, Aquaflow was formed in October 2005. Its founders were technology start-up expert Nick Gerritsen, and successful renewable energy developers Vicki Buck and Barrie Leay. Aquaflow is a leading pioneer in biomass to fuels and algal technologies without genetic modification Aquaflow creates feedstock for and produces biofuels and chemicals and remediated water. For more information please visit: www.aquaflowgroup.com

About CRI Catalyst Company and CRI/Criterion Inc.
CRI Catalyst Company (“CRI”) is a wholly owned affiliate of CRI/Criterion Inc. (“C/C”). CRI and C/C are headquartered in Houston, Texas, USA. C/C and/or its affiliates supply advanced catalysts, services, and technology solutions to the global refining, petrochemical and renewable fuel communities and they operate research laboratories, development facilities, manufacturing plants and business units throughout the world. They are dedicated to providing a broad customer base with effective and cost-efficient catalysts and technologies. CRI has a range of products with specific focus on environmental applications, hydrogen separation and recovery, selective oxidation and hydrogenation and the production of renewable fuels.

For more information please visit: www.cricatalyst.com.

© Scoop Media