INEOS Bio JV Breaks Ground on 1st Advanced Waste-to-Fuel Commercial Biorefinery in U.S.

VERO BEACH, Fla., Feb. 9, 2011 /PRNewswire/ -- INEOS New Planet BioEnergy (INPB), a joint venture between INEOS Bio and New Planet Energy, today broke ground on the first U.S. facility to produce advanced biofuels from waste on a commercial scale. The $130 million Indian River BioEnergy Center in Vero Beach, Florida, will convert yard, vegetative and household wastes into cellulosic ethanol and renewable power for the local community. This new facility represents an important step towards achieving more sustainable transportation and greater energy independence.

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The BioEnergy Center technology was developed by INEOS Bio, a part of INEOS, the world's fourth largest petrochemicals company. INEOS Bio will license the BioEnergy technology globally utilizing decades of INEOS experience as one of the world's largest licensors of chemical technology.

"We are excited to celebrate this important milestone, which moves advanced biofuels a step closer to achieving significant scale, enabling the U.S. to achieve a leading position in the bioenergy sector," said Peter Williams, Chairman of INPB and CEO of INEOS Bio. "As part of our goal of advancing the biofuels industry, educating people about the benefits of this technology and creating demand for advanced biofuels, we will continue to license this world-changing technology to partners across the U.S. and beyond, bringing secure, renewable fuel and power to communities worldwide."

When production starts in mid-2012, the Indian River BioEnergy Center will produce eight million gallons of bioethanol and six megawatts (gross) of renewable power, of which approximately two megawatts will be exported to the local community. This renewable electricity will be able to power approximately 1,400 homes. Located at a former citrus processing plant site in Vero Beach, Florida, the BioEnergy Center will provide 380 direct and indirect jobs (including 175 construction jobs) over the next two years and 50 full-time jobs in Indian River County, where current unemployment is at 13.6 percent, the 23rd highest metro area in the nation.

"We have received strong support from the Federal and State Government and are pleased that this BioEnergy Center will bring significant economic and environmental benefits to the region," said INPB President David King. "Our goal is to not only create a local source for advanced biofuels and renewable energy, but also to enable people world-wide to learn about this exciting, new clean energy technology."

In addition to support from the State of Florida in the form of a $2.5m grant, the BioEnergy Center has received significant support from the U.S. government as part of its ongoing effort to reduce U.S. dependence on foreign oil, spur the creation of the domestic biorefining industry and provide new cleantech jobs throughout the country. In late 2009, the project received a $50 million Grant from the U.S. Department of Energy as part of its Section 932 Integrated Biorefinery program and it will be the first large-scale commercial project awarded under this program to begin construction. More recently, the project received a conditional commitment for a $75 million loan guarantee from the U.S. Department of Agriculture as part of its Biorefinery Assistance Program.

The Indian River BioEnergy Center will be the first commercial scale project in the world using INEOS Bio's patented technology. Using naturally occurring bacteria, the technology is able to convert gases derived directly from biomass into bioethanol. Unlike other technologies that rely on one primary source of feedstock, the INEOS Bio process can produce ethanol and renewable energy from numerous non-food feedstocks, including construction and municipal solid waste, forestry and agricultural waste. This flexibility also allows facilities like the Indian River BioEnergy Center to be built anywhere in the world, wherever there is waste, providing jobs and locally-sourced renewable energy for urban and rural communities.

3D Image of the Indian River BioEnergy Center is available.

Note to editors

INEOS New Planet BioEnergy is a joint venture between INEOS Bio and New Planet Energy.  In December 2009, the U.S. Department of Energy (DOE) selected the INEOS Bio JV to receive a $50 million grant to help lay the foundation for full commercial-scale development of the biorefining industry in the United States. This project is part of the ongoing effort to reduce U.S. dependence on foreign oil, spur the creation of the domestic biorefining industry and provide new clean tech jobs throughout the country.  For more information, visit www.inpbioenergy.com.

INEOS Bio is a BioEnergy company working to commercialize and license a highly innovative thermo-chemical and bio-chemical technology for the production of renewable biofuels and renewable power from a wide range of low-cost carbon materials. Its initial focus is the commercialization of the world's leading third generation bioethanol technology process to serve the global renewable transport fuels market and the renewable energy market. For more information, visit www.ineosbio.com.

INEOS is the world's fourth largest chemicals group and a leading manufacturer of petrochemicals, specialty chemicals and oil products. As of the end of 2010 it operates 15 businesses and with a production network spanning 61 manufacturing facilities in 13 countries, the group produces more than 40 million tonnes of petrochemicals and 20 million tonnes per annum of crude oil refined products (fuels) each year. INEOS employs 15,000 people globally including over 3000 people in the United States.  It has annual sales of around $40bn. For more information visit www.ineos.com.

New Planet Energy is a project development company engaged in the development and implementation of advanced biofuels and energy projects. For more information, visit www.newplanetenergy.com.

SOURCE INEOS New Planet BioEnergy