July 13, 2010
CORE BioFuel Inc. welcomes the Sustainable Chemistry Alliance as an Investor
Toronto, ON – July 13, 2010 – CORE BioFuel Inc., a Canadian biofuel company that is commercializing an advanced biomass to gasoline production process, today announced that the Sustainable Chemistry Alliance (SCA, www.suschemalliance.ca) has approved an equity investment in CORE BioFuel. The terms of the investment are being defined. The funds to be invested by the SCA will be used in conjunction with funds raised through a CORE Limited Partnership offering to advance CORE’s business in several areas.
Dr. Murray McLaughlin, the President and CEO of the Sustainable Chemistry Alliance commented: “In reviewing the CORE process and technology the SCA Board saw this as a novel approach to decreasing our dependence on fossil fuels and hence committed to negotiate an equity investment. The process fits within our mandate of supporting green and sustainable technologies.”
Mr. George Stanko, President and Chief Executive Officer of CORE BioFuel, commented: “Having the SCA as an investment partner in CORE BioFuel is a tremendous vote of confidence. The SCA is an extremely talented group with a depth of business and industrial experience that will give CORE access to their expertise. We are very excited to partner with a group that shares our goals and vision to develop renewable fuels in Canada.”
About the Sustainable Chemistry Alliance
The Sustainable Chemistry Alliance is a not-for-profit organization established in 2008 to promote growth and prosperity by fostering and supporting innovation, development, commercialization and related business activities and projects in the area of green and sustainable chemistry. The Alliance focuses on areas where innovation in science and engineering can bring about major advances in sustainability. Sustainable chemistry is playing an important role in the development of solutions to the impacts of climate change, peak oil, energy security, the need for safe water, and the use of scarce natural resources. The increasing global demand for green and safer products offers the opportunity to create thousands of new jobs for Canadians.
The headquarters of the Sustainable Chemistry Alliance is in the Bioindustrial Innovation Centre at the Sarnia-Lambton Campus of the University of Western Ontario Research Park.
About CORE BioFuel Inc.
CORE BioFuel is commercializing the patent-pending MKS Gasoline Synthesis Process™. This process is a ground-breaking development that addresses the biofuel challenge. The technology is industrially proven and the process is a scalable, efficient, and cost effective approach to producing carbon neutral, high octane gasoline. ZFI Gasoline™ produced by the MKS Process™ will be a 92 octane, carbon neutral alternative to conventional gasoline produced from petroleum.
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For more information contact:
George Stanko, P.Eng., President and CEO
E-Mail: George.Stanko@COREBioFuel.com
Telephone: (519) 869-6332
Dr. Murray McLaughlin,
President and CEO
E-Mail: MurrayM@SusChemAlliance.ca
Telephone: (519) 383-8303 x 237