Aquaflow, CRI Catalyst execute technology cooperation agreement
New Zealand-based Aquaflow Bionomic Corp. recently announced the execution of a technology cooperation agreement with CRI Catalyst Co., which has exclusive global sublicensing rights to IH2 technology. The technology was originally developed by Gas Technology Institute.
According to information released by Aquaflow, the two companies have already been working together under a joint testing and evaluation agreement. Aquaflow Director Nick Gerritsen noted that the next step is to secure the investment needed to scale-up the process.
Aqualfow’s technology includes algae cultivation and harvesting, as well as a technology to mix the resulting algae with other biomass to create what the company calls a “multibiomass” feedstock. “We have successfully tested these systems at the pilot stage,” said Gerritsen. “We have found that the algae and multibiomass feeds to produce high yields of renewable hydrocarbon fuels and/or blend stocks using the catalytic thermochemical IH2 conversion process. These multibiomass feedstocks may incorporate wood, algae, agricultural straws and/or other solid wastes.”
According to Gerritsen, the IH2 technology converts these biomass sources into renewable hydrocarbons using a proprietary catalyst developed by CRI. “The renewable hydrocarbon produced from the IH2 process are ready to use as transportation fuels and/or blend stocks without further upgrading,” he continued. “It’s a one-stop biorefinery.”
Regarding work already completed by the two companies under the joint testing and evaluation agreement, Gerritsen said project outcomes have included improved processing yields and significant quality improvements at the pilot scale. The technology cooperative agreement, he added, is the vector for Aquaflow to commercialize its global project pipeline with the backing of CRI’s catalyst, licensed IH2 technology and global network. “Aquaflow and CRI have developed a strong cooperation with a shared vision of the future of renewable fuels,” Gerritsen said.
When produced at commercial scale, Gerritsen estimates the renewable hydrocarbons will cost less than $2 per gallon to produce. “The hydrocarbons would then get blended with traditional fossil-derived fuels,” Gerritsen said. “The final sales price will depend on the selling price of conventional gasoline.”
According to Gerritsen, his company is currently engaged with New Zealand-based and international entities to develop commercial-scale projects in New Zealand and other international locations.