Wednesday, October 24, 2012
Cool Planet Energy Systems Claims Fuel Breakthrough
Camarillo-based Cool Planet Energy Systems, which is developing a system for converting biomass into high octane gasoline, claimed today that it believes it can produce high octane gasoline at the cost of $1.50 per gallon, without the need for government subsidies. The firm claims its process produces a carbon negative fuel, and is currently being tested in a field trial at Google, in addition to being tested at the company's headquarters in Camarillo. Cool Planet said its testing at Google used a blend of 5% of its carbon negative fuel, blended with 95 percent regular gasoline. Cool Planet Energy is backed by Electric, Google Ventures, BP, ConocoPhillips, NRG and Constellation Energy. The firm said the byproduct of its biofuels process is activated carbon.