Alliance BioEnergy Plus, Inc. Now Doing Business as Blue Biofuels
PALM BEACH GARDENS, FL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Alliance BioEnergy Plus, Inc. (PINK: ALLM). The board of directors of Alliance BioEnergy Plus Inc. (the “Company”) has taken action to highlight and confirm the new direction that the Company is taking following its reorganization, appointment of a new management team, the process of updating its publicly-available financial statements, and the implementation of its new CTS 2.0 technology that the Company is in the process of commercializing. The initial step in this process is the Company adopting a “DBA” Blue Biofuels together with the associated new logo shown above.
While our present website () will remain in operations for the near term, we will be transitioning to our new website, . We will also transition all of our e-mail addresses to @bluebiofuels.com.
ABOUT OUR CLEAN TECHNOLOGY
CTS technology can convert virtually any plant material – grasses, wood, paper, farm waste, yard waste, forestry products, fruit casings, nut shells, and the cellulosic portion of municipal solid waste -- into sugars and lignin and subsequently into biofuels, and bioplastics, without the use of enzymes or liquid acids. The “CTS” acronym refers to our Cellulose to Sugar process. Following the conversion of cellulose to sugar and lignin, the sugar is further converted into bio-ethanol and other biofuels. The lignin may be further converted into bioplastics. CTS has a near zero carbon footprint. CTS is the fully owned and independently developed proprietary process of the Company.
Of particular importance, any bio-fuel originating from the CTS process would receive the generous D3 cellulosic Renewable Fuel Credits (“RINs”) from the US Government. The D3 RIN is currently $1.46/gallon of ethanol, which is in addition to the market price of ethanol. This incentive is offered to all domestic cellulosic fuel producers whose fuel is used in the transportation market, up to the 590 million gallon mandate for 2020.
Information in this document may constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to the Company herein are expressly qualified in their entirety by the above-mentioned cautionary statement. The Company disclaims any obligation to update forward looking statements contained in this estimate, except as may be required by law.
Contact:
Ben Slager, CEO
;
Anthony Santelli, CFO
;
SOURCE: Alliance Bioenergy Plus, Inc. ;
