Alliance BioEnergy Plus raises more than $3M in two months

In Florida, Alliance BioEnergy Plus Inc., DBA Blue Biofuels, raised over $3 million in the last 60 days through a combination of private equity offerings and the exercise of warrants. This significantly improves the Company’s financial position and gives the Company the resources to expand its organization and to accelerate the commercialization of its CTS technology.

Management believes that biofuel originating from the Company’s CTS process will be eligible to receive a generous D3 cellulosic Renewable Fuel Credits (“RINs”) from the US Government. The D3 RIN is currently $2.216/gallon of ethanol, which is in addition to the market price of ethanol (currently $1.69/gallon). This incentive is offered to all domestic cellulosic fuel producers whose fuel is used in the transportation industry. This mandate was 590 million gallons for 2020. The mandate for 2021 has not yet been determined by the US Environmental Protection Agency.