Genesis Biofuel Inc gets financial backing

On 21 October, Center T Advisory Services, LLC, a project financing and business consulting practice, announced that it has signed a Memorandum of Agreement with Genesis Biofuel, Inc., to be the exclusive provider of project financing for Genesis Biofuel, Inc.’s carbon sequestration algal biodiesel refineries.

"I am extremely pleased to have this agreement with Center T Advisory Services,” said Harvey Dorren, president and CEO of Genesis Biofuel, Inc. “Their ability to provide project financing for our biodiesel refineries will help accelerate our development activities."

“We have confidence in Genesis Biofuel’s technology, and combined with their focus on the cement industry, believe they offer a positive renewable energy opportunity,” added Don Clark, president of Center T Advisory Services, LLC. “Their refineries will be able to sequester CO₂ directly from cement manufacturing plants, greatly reducing the greenhouse gas emissions from these facilities.”

CO₂ sequestration

Based in Boulder, Colo., Genesis Biofuel, Inc., designs and builds biodiesel production facilities that use algae to capture carbon in a photo bioreactor (PBR). The patent-pending processes and equipment transform the carbon into a bio-oil that is refined into B100 Biodiesel, a 100% biodiesel fuel. The company grows algae in photo bioreactors (PBRs) rather than open ponds, because PBRs provide a cleaner, controlled environment.

PBRs are large, clear tubes containing water and a specific strain of algae. A CO₂ delivery system is attached to the tubes. The growth of the algae, activated by CO₂ and sunlight, is accelerated by the injection of additional nutrients. “Mature” algae is harvested and collected in storage tanks using a continuous process.

Genesis Biofuel, Inc., uses an automated control system that measures the exact amount of carbon captured and oxygen released during the process. From the storage tanks, algae are centrifuged to remove most of the water. Ultrasound is then used to separate oils from the solids. This process yields “green crude,” which is then refined to make B100 Biodiesel.

Located in Denver, Center T Advisory Services, LLC, provides project financing, as well as a range of strategic services to maximise shareholder value by evaluating current business practices and recommending solutions to improve business methods, customer satisfaction, cost, quality, process and speed. The company specialises in serving businesses in the cleantech, energy, construction and manufacturing sectors.

Read the article online at: https://www.worldcement.com/the-americas/22102010/genesis_biofuel_inc_gets_financial_backing/