Date: April 14, 2009
Source: News Room
Texas-based oil refiner Valero Energy Corp. has recently become the lead investor in waste-to-energy developer Terrabon LLC, a company that is developing and testing a technology to create gasoline from waste and biomass. Terrebon said it intends to use the funds to accelerate commercial deployment of its MixAlco technology which involves an acid fermentation process to convert biomass materials such as municipal solid waste into gasoline, diesel and jet fuel. Last month Valero became the largest player in ethanol ownership with its $477 million purchase of seven VeraSun Energy plants.
"The development of renewable energy technologies is critical to fulfilling America's energy needs in the 21st century," said Terrabon CEO Gary Luce. "Our strategic partnership with Valero is a big step in helping our country meet President Obama's goal of producing 36 billion gallons of renewable fuels by 2022."
San Antonio-based Valero owns and operates 16 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of 3 million barrels per day.
To learn more, visit: www.terrabon.com, www.valero.com.
See also: www.wasteinfo.com/news/wbj20080507N.htm.
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