OriginOil enters into new JV to develop biorefineries
OriginOil has co-founded a new joint venture (JV) to develop biorefineries serving US and NATO military requirements for alternative fuels.
The JV, Future Energy Solutions Unlimited (FES), with its Australian subsidiary Alternate Energy Systems (AES), intends to carry out bankable feasibility studies supporting project development and project delivery for diversified biofuel refining centers in strategic locations across the world.
OriginOil plans to deliver its proprietary systems and process knowledge for the development of multi-feedstock blending standards that will be needed for the new biorefineries.
OriginOil recently signed a research agreement with the Department of Energy's Idaho National Laboratory, in part to tackle these standards.
The Energime Group of Companies has given preliminary commitments to provide $1.5m in matching funds to AES and $3m to FES, for a total of $4.5m.
The investments, to be finalized in early 2012, are intended to fund the planned bankable feasibility studies, leading to a key role for Energime in designing, building, operating and owning these refineries.
Related Insight
Suppliers Directory
Power Generation Biofuels & Biomass Fossil Fuel Geothermal Hydro Nuclear Solar Wind
Power Distribution Utilities Network Utilities Retail
Mining & Commodities Carbon Coal Minerals & Materials Nuclear Fuels
Biofuels & Biomass Intelligence
“Competing For Share Of Global Upstream Oil & Gas Industry Spend In 2010-2011” is a new report published by ICD Research that analyzes how industry suppliers’ media spend, marketing and sales strategies & practices and business planning will be shaped in 2010 to 2011. In an uncertain economic climate this report gives you access to the media channel spending outlooks, media budgets, marketing agency selection criteria, business challenges and sales tactics of leading suppliers to the upstream oil and gas industry. The report also identifies oil and gas exploration and production companies and suppliers future growth, M&A and investment expectations. The research is based on an extensive survey of senior and C-level industry executives from our market leading panels. Buy online from $2000
Comments may be moderated for spam, obscenities or defamation.