green and sustainable business

AE Biofuels, Pearson Fuels fuel up

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butte_scaledaebAE Biofuels signed a “strategic agreement” to supply cellulosic ethanol to Pearson Fuels in California.

Pearson, based in San Diego, is developing a network of renewable fuels filling stations in the state. In fact the company built the first E85 fuel station in California six years ago.

As usual, financial details of the deal were not disclosed. The companies only disclosed that under the terms of the agreement, the Cupertino-based AE Biofuels (stock ticker: AEBF) will supply Pearson with cellulosic ethanol “and other biofuels” for distribution through renewable fuels filling stations in California. They will also use available government programs to develop additional renewable fuels filling stations in the state.

Also, AE recently signed an agreement with Merrick & Company to commercially implement AE Biofuels’ “patent-pending enzyme based technology for the conversion of non-food biomass into ethanol and other materials through the design of new biofuels facilities or the conversion of existing biofuels facilities.”

Merrick, based in Golden, CO, is an $85 million provider of engineering and architectural design-build, procurement, construction management, and geospatial services.

Under this agreement, which also features no financial disclosures, AE and Merrick will “work to deploy AE’s next-generation biofuels technology to address the significant demand for cellulosic ethanol created by the revised Renewable Fuels Standard (RFS).”

The Energy Independence and Security Act of 2007 increased the RFS to 36 billion gallons of renewable fuels, the majority of which must be advanced biofuels, such as cellulosic ethanol.


Written by William DiBenedetto

23 April, 2009 at 9:32 am

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