In the United States (US), Alliance BioEnergy Plus Inc. (Alliance), a company that develops cellulosic ethanol plant projects utilising its cellulosic conversion technology, has announced the confirmation of its Chapter 11 Plan by the US Bankruptcy Court for the Southern District of Florida. All payments to creditors required under the Plan will be paid and all shareholders’ equity has been kept whole.
At the same time, Alliance has designed and ordered the construction of a new, further engineered and developed, a prototype for its Cellulose-to Sugar (CTS) technology which should arrive in a couple of weeks. This will be used to optimize parameters and develop additional parameters for a commercial size reactor.
Our proprietary CTS 2.0 technology can convert any cellulosic material into sugar and lignin products, which may be further converted into biofuels and bioplastics respectively. With the Chapter 11 bankruptcy proceedings behind us, we are now able to focus fully on building the company and finalizing the engineering and commercialization of our promising technology, said Ben Slager, CEO, Alliance BioEnergy Plus in a statement.
