Alliance Bioenergy sublicenses CTS technology for Georgia facility

In Florida, Alliance BioEnergy Plus, Inc announced that it has signed a sublicense agreement with Phoenix Biomaterials Thomaston, LLC for the use of their licensed and patented CTS process, in a plant Phoenix intends to build in Thomaston, Georgia.

Phoenix paid a substantial deposit, against the first sublicense fee payment, to grant them 60 days in order to finalize offtake agreements and site acquisition that is required under their overall funding terms. The initial sublicense fee payment of $1,250,000 is due May 25, 2018 with subsequent payments due throughout the construction and site development process.

Phoenix intends to build a new plant that will be processing up to 1,000 tons a day of chipped pine and paper waste into an industrial sugar syrup that will be sold and used to produce biodegradable plastics, biofuels and fine chemicals. Phoenix intends to break ground in the summer of 2018 with completion by early 2020 and has contracted with Ford, Bacon & Davis to oversee the engineering and construction of the facility. Once complete the Phoenix plant represents approximately $5.5 million a year in royalty income for the Company.