Alliance BioEnergy Plus agrees exclusive brokerage agreement with Progressive Fuels

In California, Alliance BioEnergy Plus recently announced an exclusive brokerage agreement with Progressive Fuels Ltd., a premier independent interdealer broker in the wholesale physical biofuel, agriculture, CCA, renewable identification numbers (RINs) and Lower Carbon Fuel Standards markets. The agreement is for five years and will automatically renew at the end of the initial term or any renewal term for successive one-year terms.

The price of cellulosic fuels reached $4.33 per gallon in California in June 2017, an increase of 15.7 percent since the January 2016, and the global cellulosic ethanol market is expected to reach $18 billion by 2021, based on CAGR of 45 percent. Alliance BioEnergy Plus can produce cellulosic ethanol for less than $1 per gallon, which is equivalent to less than $18 per barrel of oil.