Cool Planet Signs Agreement with Acritaz Greentech: $60MM Targeted to Build
First Commercial Biorefinery in Malaysia
License model to be part of deployment for first international plant, a
complement to Cool Planet’s build and operate model in the U.S.
GREENWOOD VILLAGE, Colo. & SELANGOR, Malaysia -- October 1, 2013
Cool Planet Energy Systems, a developer of small-scale bio refineries for the
conversion of non-food biomass into biofuels and soil enhancing biochar, and
Acritaz Greentech, a group of companies that bring biomass processing and
bio-technology innovation to plantations, today announced that they have
signed an agreement to explore the building of multiple commercial facilities
in Malaysia. The plan is to begin construction on the first plant in 2014.
Acritaz will work with Cool Planet to use biomass raw materials local to the
region that include palm plantation waste products such as empty fruit
bunches, wood, and bark waste to make renewable, cellulosic fuels for the
“We are pleased to be working with Acritaz Greentech, a group that is known
for their technology leadership in biomass processing and bio-technology in
Malaysia, to deploy our biofuels and biochar technology,” said Cool Planet CEO
Howard Janzen, “This is another validation of our technology, as we begin to
build partnerships that will commercially deploy our bio refineries outside
Acritaz will work to commit USD60 million to the first facility before the end
of 2013. The first commercial facility is planned to be located in the
Malaysian state of Johor. Acritaz and Cool Planet will then work to build
multiple facilities across Malaysia, with Acritaz purchasing proprietary
equipment and consumables from Cool Planet in the construction and operation
of the facilities.
“Acritaz is excited to commercialize Cool Planet’s platform technology to
bring drop-in fuels to the Malaysian fuel market,” said Looi Kem Loong, a
Director at Acritaz. “This is the kind of breakthrough technology that Acritaz
wants to deploy.”
Acritaz and Cool planet will develop a plant design that satisfies the
specific needs of Malaysia, including feedstock selection, biochar production,
and specification of the final fuel.
“We like the fact that Acritaz has a leading position in biotech, and has the
vision to deliver the first international installation of our innovative
biorefinery technology,” said Vital Aelion, Cool Planet’s head of
international business development. “We chose Acritaz because we knew they
have the desire to implement not only our first Asian plant, but also work to
deploy our technology broadly across Malaysia.”
About Cool Planet
Cool Planet is deploying disruptive technology through capital efficient,
small scale biorefineries, to economically convert non-food biomass into
high-octane, drop-in biofuels. The process also generates value through
biochar production, which can be returned to the soil, enabling fertilizer and
water retention for increased crop productivity, and more robust plant health.
The process can be carbon negative, removing over 100 percent of the carbon
footprint for every gallon used, reversing the consequences of fossil fuels.
Cool Planet’s technology has a broad portfolio of pending and granted patents.
Global investors include BP, Google Ventures, Energy Technology Ventures (GE,
ConocoPhillips, NRG Energy), and the Constellation division of Exelon.
Connect with Cool Planet on Facebook at facebook.com/CoolPlanetEnergySystems,
on Twitter at twitter.com/CoolPlanetFuels and at www.coolplanet.com.
"Acritaz" which means "Force" in Greek with a mission to strive to be a force
in "green" technologies.
Acritaz comprises a diversified group of companies including:
ACRITAZ GREENTECH SDN BHD, specializing in green technologies such as microbe
propagation to increase yield whilst reducing the harmful effects of chemical
compound fertilizers via reconditioning of the soil.
ACRITAZ CAPITAL PARTNERS SDN BHD
Acritaz Capital Partners is the corporate consultancy arm of the Group.
ARTISAN SEMESTA SDN BHD
Involved in trading of "green" environment friendly agricultural products.
ASIA BIOENERGY TECHNOLOGIES BERHAD (a technology incubator listed on the Bursa
Malaysia specializing in various bioenergy and biofuel related industries,
which Acritaz Holdings founded and still hold substantial equity
Photos/Multimedia Gallery Available:
Cool Planet Energy Systems
Mike Rocke, +1-940-584-0490
Acritaz Oasis Ara Damansara
No 2 Jalan PJU 1A/7A
47301 Petaling Jaya
Selangor: +603-7734-2222 +603-7734-2299
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