Cool Planet Plans to Turn Corncobs Into Fuel for $1.50 a Gallon
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Cool Planet Energy Systems, a biofuels maker backed by Google Inc., General Electric Co. and BP Plc, plans to build 30 manufacturing plants within three years to make gasoline, according to Chief Executive Officer Howard Janzen.
The company uses a chemical-mechanical process to convert biomass such as corncobs, grass and non-food crops into fuel for about $1.50 a gallon, Janzen said in an interview yesterday.