Raven Biofuels International Corp. has entered into a Memorandum of Understanding (MOU) with Price Biostock to develop a cellulosic ethanol biorefinery located in the Gulf Opportunity Zone of Mississippi.
The proposed 35 acre site offers regional benefits such as lower feedstock prices and labor costs combined with strong State incentives such as The Gulf Opportunity Zone (GO Zone).
The Gulf Opportunity Zone Act was passed into law on Dec 21, 2005 as an initiative to rebuilding the region devastated by multiple hurricanes (Wilma, Rita and Katrina) in 2005.
Locally sourced wood and wood waste will be used as feedstock.
John Sams, President of Raven, commented, "This project represents a strategic location, not just for biomass feedstock procurement, but also due to its close proximity to gulf coast refineries. Raven and Price will benefit from this project, as well as the state of Mississippi through the Gulf Coast Opportunities Zone initiatives."
The agreement calls for a biorefinery output of 33 million gallons per year (MGPY), based on a projected 21 MGPY of fuel grade ethanol and 12 MGPY of furfural products, plus lignin cake.
About Raven Biofuels International Corporation
Raven Biofuels is a developing global renewable energy company focused on producing ethanol from waste or biomass (cellulosic ethanol). Raven plans to build commercial scale refineries using a proprietary 2 stage dilute acid hydrolysis process to convert forestry and agricultural waste to transportation grade ethanol.
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