INDIANAPOLIS, IN, June 14, 2009
/24-7PressRelease/ -- Stellarwind Bio Energy, LLC, a producer of fuel oil from algae, and BioAlternative LLC, an Illinois based company building a new biodiesel refinery in Covington, Indiana and a leader in catalytic-based biofuel refining technology, have signed mutual letters of intent for the respective sale and purchase of up to 12,000,000 gallons per year of algae oil. The announcement was made today by Will Kassebaum, President and CEO of Stellarwind Bio Energy.
Currently in its first stage of development, Stellarwind Bio Energy will expand upon its announced small scale pilot production facility by announcing BioAlternative as a customer for its future large scale algae production and processing plants in Indiana. The company's goal is to produce up to 10,000 gallons of fuel oil per acre per year. According to the letters of intent, BioAlternative plans to purchase up to 12,000,000 gallons of algae oil annually from Stellarwind Bio Energy upon availability. Exact specifications and product pricing will be determined at a later date.
Additionally, as Stellarwind Bio Energy transitions from research and development to production mode, the companies have agreed to discuss building Stellarwind algae production facilities on BioAlternative owner land located adjacent to its biodiesel refinery in Covington, Indiana or other suitable BioAlternative owner land sites.
"Stellarwind Bio Energy looks forward to a long term relationship of collaboration and trading with BioAlternative," said Mr. Kassebaum. "Moving forward we will evaluate suitable areas of joint development and / or improvement of the algae growing, harvesting and oil extraction processes. For instance BioAlternative's patent pending oil extraction process may be of great interest to us."
The American Society for Testing and Materials (ASTM) certified algae fuel oil as one of the cleanest burning biofuels yet developed. By agreeing to work together, the end product for both companies will be industrial production levels of a completely green, renewable energy products that will price competitively with fossil fuels without the high carbon emissions footprint of production or use.
The Stellarwind Engineers and Biochemists have solved the industry's critical problem of scaling the currently low level yields of algae growth to commercially viable production through what they have named their PhycoGenic Reactor . BioAlternative engineers have taken their expertise designing flatbed, catalytic refining systems for feedstock oils and applied that to breaking down algae cells to release oil without the huge expense of drying and pressing operations.
About Stellarwind Bio Energy:
Stellarwind Bio Energy's goal is to become a leader in the production of fuel oils from algae. Formed in 2006 and incorporated in the summer of 2008, the founders spent two years developing a highly scalable, cost effective method of producing fuel oil from algae. The company is about to enter its small scale pilot production phase during which it will refine its production techniques, develop its manufacturing process and continue to expand its human resources. The management team is a highly skilled group of professionals with extensive experience with high-tech startup companies specializing in systems engineering, complex product design and product development. Individually and as a group they have successfully delivered a wide range of award winning products, systems and services in a variety of technical fields. For more information, visit: http://www.stellarwindbioenergy.com.
About BioAlternative LLC:
BioAlternative, LLC, is a company dedicated to the advancement of biodiesel technologies. BioAlternative brings together a team of industry leaders with a range of experience in technology and manufacturing enterprises including Flex-N-Gate Corporation and Henneman Engineering, Inc. The company's philosophy is simple: Biodiesel is an efficient, affordable, and sustainable energy alternative that should be widely and easily accessible. From refinery construction and catalyst sales to site planning and business consultation, BioAlternative provides its customers with the tools necessary to enjoy the benefits and values of biodiesel. Behind the company's products lie extensive and ongoing research and development initiatives that ensure that BioAlternative is always taking the next step in energy. For more information visit: http://www.bio-alternative.com.
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