Alliance BioEnergy Plus enters into 56 plant development agreement with RRSA
Alliance BioEnergy Plus, a publicly traded company focusing on green energy and renewable technologies, has entered into a non-exclusive development agreement with Renewable Resources Development of America (RRSA) for the construction and operation of up to 56 cellulose conversion plants. The plants will be located both domestically and abroad utilising Alliance's licensed, patented CTS technology.
RRDA has a background in construction, finance, municipal solid waste recovery, plastics, metals and papers recycling. The company's background also extends to chemical extraction from or for manufacturing, and cellulose material conversion into sugars for the manufacturing of biofuels, bio-plastics and other products. The company is also developing business facilities using cellulose conversion technology.
It is anticipated that the first CTS plant, under the agreement, will be located in central Georgia, breaking ground later this year and will process up to 1,000 tonnes a day of agriculture and forestry waste. RRDA is in advanced negotiations with local municipalities and expects to be fully operational by the second quarter of 2016.
In addition, RRDA and Alliance have entered into an agreement whereas RRDA will invest $4 million (€3.6 million) in exchange for a 10% ownership stake in Alliance, 2 million warrants and a license to the first commercial plant to be built by RRDA in Vidalia, Georgia.
Alliance will use the funds to complete engineering, automate its demonstration facility in Longwood, Florida and file additional patents to accentuate its current family of patents. RRDA and Alliance will work together to complete the first commercial plant and develop additional plants under the agreement in the coming months.
Daniel de Liege, CEO of Alliance, says: 'We are extremely excited that the first commercial plant is being designed and will be up and running early next year.'