Kelowna, BC December 8th, 2021: Provectus Biofuels, Inc. a first of-its-kind biomass to renewable low-carbon gasoline producer is pleased to announce that we have signed an Exclusive Development License Agreement for a unique patented process to convert wood waste into a drop-in low-carbon gasoline.
The process allows Provectus Biofuels to convert various types of biomass waste including logging waste and residues to gasoline – cleaner and more economically than hydrocarbons can be extracted and refined from underground!
Provectus will be the first to provide renewable low-carbon drop-in gasoline that is 87 octane and has a Carbon Intensity (CI) score of 28. This CI score is significantly lower than the BC governments 2030 Low Carbon Fuel Standard requirement of 70 CI. Traditional gasoline has a CI score of 88. These new governments regulations have created an enormous opportunity by providing traditional fuel suppliers a pathway to meet the new 2030 targets by blending our innovative low-carbon gasoline with traditional gasoline.
Jon Jaque, President and CEO, stated, “With this patented process Provectus is well positioned to be the leader in the transitional fuels market for decades to come.”
President and CEO
Provectus Biofuels, Inc.