Alter NRG signs 22-month testing agreement extension with Coskata
In Canada, Alter NRG is pleased to announce it has signed a twenty-two month extension to its agreement with Coskata, to provide testing services to support Project Lighthouse for a minimum value to the Company of US$4.1 million and up to US$5.6 million if all contemplated tests are performed.
This includes monthly fixed payments totaling US$2.46 million over the term. Lighthouse was completed in late 2009 and since that time, Alter NRG and Coskata have been converting woodchips into ethanol and optimizing the overall process. Alter NRG converts the woodchips into a clean tar free syngas and Coskata converts the syngas into ethanol using its patented biorefinery technology.
Mark Montemurro, CEO of Alter NRG, added “We are pleased to continue our relationship with Coskata, an acknowledged leader in second generation ethanol production. In the short-term the monthly fixed payments will cover our operating costs at the Westinghouse Plasma Centre. In the longer-term, the market for non-food based ethanol, which is mandated to grow by the US government, represents another market opportunity for Alter NRG.”
Category: Fuels
