Alternative Energy Technology Center Acquires Meridian Biorefining, Inc.
Houston, TX - The Alternative Energy Technology Center, Inc. announced recently that it has acquired Meridian Biorefining, Inc. Meridian's vertically integrated biorefining system focuses on using non-food cellulosic feedstocks to produce ethanol, gasoline, and biocrude which can be further processed to produce a wide range of transportation fuels, chemicals, and other compounds.
Most other biofuels companies use single product processes designed to produce end products such as ethanol or biodiesel. Meridian's technology is built on the vertically integrated processing model of petroleum refineries and petrochemical plants. The entire value of its biological feedstocks is used to produce a wide range of end products, the production of which is determined by seasonal and market driven demands. This maximizes output, eliminates waste products and increases the profitability of the refining operation.
Meridian utilizes a flex-feed biorefining model that can accept a variety of cellulosic feedstocks depending on market conditions, geographic availability and changes in pricing structure. Meridian's technology advances the alternative fuels and chemical production industry to a "bio-equivalent" of the traditional petroleum refining industry, with the notable exception that facilities can be decentralized and located near sources of feedstock.
"The acquisition of Meridian advances our work at the Alternative Energy Technology Center by bringing us cutting edge cellulosic processing technology," explained Brown Marks, CEO of AETE. "We expect to complete our commercial scale research facility in the first quarter and be ready to begin producing biofuels during the second quarter of this year," he noted. "Meridian's technology will make the processing of cellulose into fuels far more cost effective than any current technical models in development," he predicted.
The Alternative Energy Technology Center, Inc. competes with other front line biofuels companies pioneering the path to America's energy future. Multiple technologies for processing cellulose into fuels are under development at competitors such as DuPont , Pacific Ethanol and SunOpta, Inc. among others. "We expect to be producing commercial quantities of biofuel before the end of 2008," noted Mr. Marks.
The Company: The Alternative Energy Technology Center, Inc. , based in The Woodlands, TX, is a technology company focused on biofuels and alternative energy technologies. It is developing the first true biorefinery in the U.S. It will focus on technologies using renewable energy inputs from non-food energy sources and on technologies that can be scaled up to efficiently addresses the post-petroleum energy needs of the United States.
SOURCE: The Alternative Energy Technology Center, Inc.