Primus Green Energy Inc., a firm that specializes in producing gasoline and other fuels from biomass and natural gas, has wrapped up its third round of funding with a $12 million investment from IC Green Energy Ltd.
This new investment gives Primus Green Energy the financing it needs to support its integrated, single-loop demonstration plant, which is being built in Hillsborough, N.J. The company is scheduled to begin construction of a commercial-scale facility in early 2013.
The front end of Primus' technology consists of biomass gasification, and the back end is its STG Plus (syngas-to-green) gasoline process – a proprietary version of an established fuel-synthesis technology. Gasoline produced at the company's test facility has been validated by two third-party laboratories to be 93 octane, and with physical and chemical properties adhering to specifications of gasoline.