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PALM BEACH GARDENS, FL, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Blue Biofuels, Inc. (OTCQB: BIOF). Blue Biofuels Inc. and Vertimass, LLC, have created a partnership to employ Vertimass' proprietary Consolidated Alcohol Deoxygenation and Oligomerization (CADO) technology to produce sustainable aviation fuel (SAF) and renewable propane and butane (rLPG) as co-products from ethanol. This new company, VertiBlue Fuels LLC, is equally owned by Blue Biofuels Inc. and Vertimass. VertiBlue Fuels has the immediate objective to build a facility in Florida, which is anticipated to produce an estimated 10 million gallons of SAF and 2 million gallons of rLPG in its first year. Upon completion, the Partnership will expand SAF production to approximately 70 million gallons and rLPG to 14 million gallons, annually. The facility will initially convert sugarcane ethanol, followed by using ethanol derived from Blue Biofuels' CTS (Cellulose-to-Sugar) technology. The creation of this partnership is a transition from technology development to production and represents the first step in building an end-to-end integrated continuous process for converting cellulosic biomass into SAF and other sustainable biofuels. Blue Biofuels' CEO, Ben Slager, states, "I am very enthusiastic about this partnership with Vertimass. It confirms our dedication to pioneering sustainable solutions in the aviation industry and producing biofuels. Our joint venture's objective is not only to produce high-quality SAF but also to contribute significantly to reducing carbon emissions. We are excited about the positive impact this project will have on both the environment and the aviation sector, and it is a clear step forward from Biofuels development to production." Vertimass President and CEO Dr. Charles Wyman noted, "This partnership represents a major milestone for Vertimass, as it will move our breakthrough CADO technology to commercial scale and feed conversion of cellulosic biomass to SAF. The need for SAF in the marketplace continues to grow as airlines and governments around the world commit to net zero carbon emissions by 2050. Vertimass is delighted to be at the forefront of this growing market and looks forward to our low-cost CADO process contributing to reducing carbon emissions that feed climate change." Blue Biofuels and Vertimass are committed to the highest standards of environmental responsibility and innovation, and this partnership represents a pivotal step towards a more sustainable aviation sector. About Blue Biofuels, Inc. About Vertimass LLC This information is neither an offer to sell nor a solicitation of an offer to buy any security by any person in any jurisdiction. Offers and sales shall be made only to persons who qualify as accredited investors under applicable U.S. federal law and only pursuant to a confidential offering memorandum (the "Memorandum") and subscription documents setting forth definitive terms of each investment opportunity. An investment in a limited partnership involves a high degree of risk and is speculative as described in detail the Memorandum for each investment opportunity, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA / SIPC. Special Note Regarding Forward-Looking Statements Contact: Ben Slager, CEO and Chairman of Blue Biofuels Anthony Santelli, CFO of Blue Biofuels Charles Wyman, CEO and President of Vertimass John Hannon, COO of Vertimass Bill Shopoff, Chairman of Vertimass SOURCE: Blue Biofuels, Inc. www.Bluebiofuels.com
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