Valero Invests in Renewable Energy Firm
SAN ANTONIO -- Valero Energy Corp. recently became the main investor in Houston-based Terrabon LLC, a technology company that is attempting to develop a way to convert biomass into renewable gasoline, according to a report by the San Antonio Business Journal.
The company will use the funding to advance the commercial deployment of its MixAlco acid fermentation technology, a process which "converts materials such as municipal solid waste, sewage sludge, forest product residues and non-edible energy crops into a wide array of chemicals and secondary alcohols that can be further refined through a separate, well-established process to produce renewable gasoline, jet fuel, diesel or ethanol," the Terrabon Web site states.
The renewable energy firm was established in 1995 to commercialize three technologies from Texas A&M and is currently in the start-up phase of an Advanced Biofuels Research Facility in Bryan, Texas, to test the feasibility of Terrabon’s technology.
This investment, of undisclosed value, follows Valero’s purchase of seven ethanol plants in the Midwestern United States earlier this year.
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The company will use the funding to advance the commercial deployment of its MixAlco acid fermentation technology, a process which "converts materials such as municipal solid waste, sewage sludge, forest product residues and non-edible energy crops into a wide array of chemicals and secondary alcohols that can be further refined through a separate, well-established process to produce renewable gasoline, jet fuel, diesel or ethanol," the Terrabon Web site states.
The renewable energy firm was established in 1995 to commercialize three technologies from Texas A&M and is currently in the start-up phase of an Advanced Biofuels Research Facility in Bryan, Texas, to test the feasibility of Terrabon’s technology.
This investment, of undisclosed value, follows Valero’s purchase of seven ethanol plants in the Midwestern United States earlier this year.
Related News:
-- Weighing the Impact of Ethanol Use
-- Valero Buys Select VeraSun Ethanol Facilities
-- Energy Companies Anticipate Lower Earnings
-- ExxonMobil, Chevron Invest In Energy Innovation, Efficiency