Elevance awarded $2.5 million grant by the Department of Energy
Elevance Renewable Sciences, Inc. was selected as one of 19 companies to receive American Recovery and Reinvestment Act funding from the Department of Energy to accelerate the construction and operation of pilot, demonstration, and commercial scale facilities. DOE also helped Elevance fund the initial research in 2004.
According to the DOE release, “The biofuels and bioproducts produced through these projects will displace petroleum and accelerate the industry’s ability to achieve production targets mandated by the federal Renewable Fuel Standard (RFS). These investments will help close the gap between the production from the small number of biorefineries currently in operation and the aggressive Renewable Fuel Standard goals for cellulosic and advanced biofuels.”
Elevance will use the $2.5 million grant to fund preliminary engineering design for a demonstration scale integrated biorefinery aimed at the production of high value specialty chemicals and advanced biofuels from plant oils and poultry fat. The Elevance Biorefinery is a profitable asset at $45/barrel crude oil and delivers improved profitability of $300-900 per metric ton compared to traditional biodiesel plants.
We also intend to use the funding to research and understand the effect of feedstocks and recycle streams and produce platform chemicals and fuels for market development and performance testing. Elevance anticipates the creation of 40 – 50 construction jobs on-site at the pilot biorefinery, and up to seven jobs as the biorefinery becomes operational.
Pleas check-back here as we continue work on this project, and announce more details.