Cool Planet Energy Systems First Company to Develop Carbon Negative Fuel at Projected Cost of Less Than $1.50 Per Gallon

  Cool Planet Energy Systems First Company to Develop Carbon Negative Fuel at
  Projected Cost of Less Than $1.50 Per Gallon

             Successful field testing conducted at Google Campus

Business Wire

CAMARILLO, Calif. -- October 24, 2012

Cool Planet Energy Systems today announced a major breakthrough in the
commercialization and affordability of biofuels from non-food biomass that can
run in any vehicle on the road today. Using a patented mechanical process and
unique scaling approach, Cool Planet is the only company projected to produce
high octane gasoline at the cost of $1.50 per gallon, without the need for
government subsidies, which actually removes carbon from the atmosphere during
the course of production.

Cool Planet’s biofuel has already been successfully tested internally at the
Company’s headquarters in Camarillo, CA and through a field trial by Google
Inc. at their Mountain View, CA headquarters, with an OnDemand campus vehicle,
known as GRide, which has operated seamlessly using this fuel for more than
2,400 miles. By running on a 5% Cool Planet carbon negative fuel blended with
95% regular gasoline, the test car blend met California’s 2020 Low Carbon Fuel
Standard – eight years ahead of schedule.^1 The control car used 100% regular
gasoline. The test car successfully passed 5 smog checks with no significant
difference between cars. The total mileage of the test car was virtually the
same as the control car, driving a total of 2,490 stop & go miles in the test
car compared with 2,514 miles in the control car. Additionally, both the test
car and the control car were virtually identical in emissions testing. Other
field tests planned include a partnership with Ventura County, and another
current investor fleet test to be run in California.

“Innovations in alternative fuels will be key in addressing growing climate
change concerns,” said Brendon Harrington, Transportation Operations Manager
at Google, Inc. “We are thrilled to be a part of Cool Planet’s field testing
and believe that this product has the potential to make a significant impact
on our future energy needs.”

Cool Planet’s proprietary two-step thermal processing technology takes
non-food biomass such as wood chips, agricultural waste like corn stover, or
energy crops including giant miscanthus, and switch grass and converts it into
useful hydrocarbons. A catalytic conversion is then utilized to complete the
production. The end result is high-octane gasoline that is fully compatible
with today’s standard automobiles and existing conventional fuel distribution
systems.

“Unlike many other biofuel companies, Cool Planet’s carbon negative gasoline
is price competitive because of the ingenuity behind our innovation. By mass
producing mobile, pre-fabricated micro-refineries that are easily
transportable to the biomass source, we significantly reduce costs of
feedstock transportation, which maximizes our overall capital efficiency,”
said Howard Janzen, President and CEO at Cool Planet Energy Systems. “Each
micro-refinery is one hundred times smaller than a typical oil refinery and
can produce 10 million gallons of fuel per year; this puts us in the running
to compete with oil at $50 a barrel without any government mandates or
subsidies.”

A byproduct of producing biofuel is the activated carbon, or biochar, which
can be used as a soil enhancer increasing land fertility while isolating the
carbon captured from the atmosphere. This comprehensive carbon negative
process results in up to a 150% carbon footprint reduction^2, far more than
any other biomass-to-fuel method.

Cool Planet’s technology has attracted investors including General Electric,
Google Ventures, BP, ConocoPhillips, NRG and the Constellation Energy division
of Exelon.

Connect with Cool Planet on Facebook at facebook.com/CoolPlanetEnergySystems,
on Twitter at twitter.com/CoolPlanetFuels and at www.coolplanet.com

About Cool Planet

Cool Planet has developed ground breaking, disruptive technology that
economically converts non-food biomass into sustainable, high-octane gasoline.
Cool Planet’s technology is based on five accelerated patents. Biomass is
processed through a mechanical biomass fractioning system that uses pressure
and heat to create a series of useful volatile components that then go through
proprietary catalytic systems to make high octane fuel. The process also
captures the carbon to create a byproduct, biochar, which is an inert carbon
that enhances soil quality through improved water retention and thereby
increasing crop production. This carbon negative process removes atmospheric
carbon to reverse the effects of fossil fuel consumption resulting in up to
150% carbon footprint reduction for every gallon used.

^1 For more information, please see Cool Planet’s press release from January:
http://tinyurl.com/96ub4k5. For more information on the Low Carbon Fuel
Standard, please visit: http://tinyurl.com/2y6kvf

^2 Cool Planet GREET calculation; GREET is Greenhouse Gases, Regulated
Emissions, and Energy Use in Transportation Model developed by Argonne
National Laboratory.

Contact:

Access Communications
Lyda Velez, 415-844-6276
lvelez@accesspr.com
 
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