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SOURCE Primus Green Energy, Inc.
One of the First Demonstration Plants in the Country to Convert Natural Gas Directly Into Drop-In, 93-Octane Gasoline
HILLSBOROUGH, N.J., Oct. 2, 2013 /PRNewswire/ -- Marking a momentous achievement on its path toward commercialization, Primus Green Energy, Inc., an alternative fuel company headquartered in Hillsborough, N.J., today announced the commissioning of its up to 100,000 gallon-per-year natural gas-to-gasoline pre-commercial demonstration plant at its Hillsborough facility.
Primus celebrated the commissioning of its new demonstration plant at a ceremony today attended by distinguished speakers, including N. J. Lieutenant Governor Kim Guadagno, Israel Corp. President and Chief Executive Officer Nir Gilad, Israel Corp. Green Energy (ICG) President and Chief Executive Officer Dr. Yom-Tov Samia, company executives and state officials.
"As one of the first plants in the nation to make gasoline directly from natural gas, the completion of our facility is of monumental significance for Primus, for the nation and for the world," said Robert Johnsen, CEO of Primus Green Energy. "Our syngas-to-gasoline plus (STG+) process is much more cost effective and efficient than competing alternative fuel technologies, enabling us to build commercial plants at a fraction of the cost of traditional gas-to-liquids (GTL) and alternative fuel plants."
"New Jersey ranks seventh in the nation for clean energy jobs, and the Christie Administration is dedicated to developing an infrastructure that employs more efficient, cleaner, sustainable and homegrown energy sources," said New Jersey Lt. Governor Kim Guadagno. "Primus' decision to build their new demonstration plant in New Jersey is an important step for the state, as this Administration continues to work to attract innovative businesses that will create clean energy jobs and build a greener economy."
The demonstration plant utilizes Primus' proprietary STG+ technology, which is a four-reactor catalytic process that converts syngas derived from natural gas or other feedstocks to gasoline, jet fuel, diesel or aromatic chemicals directly, without the need for further treatment. The process produces drop-in fuels that are ready for immediate distribution, sale and consumption using the existing fuel distribution infrastructure.
The commissioning of Primus' demonstration plant is a major milestone for both New Jersey and the United States, as STG+ offers the broader alternative fuels and GTL industries a unique opportunity. Primus' groundbreaking technology advances the use of low-cost, abundant natural gas in the production of transportation fuels while decreasing the United States' dependence on crude oil.
Primus' demonstration plant marks the final major milestone before construction of its first commercial plant. Primus has engaged the services of a top-tier investment bank to help lead fundraising efforts for the first commercial plant. To date, Primus' primary investor has been IC Green Energy, the renewable energy arm of Israel Corp. Gilad, CEO of Israel's largest holding company, says that the Primus investment is a key part of a corporation-wide prioritization of building a cleaner, more environmentally sound business. IC Green Energy has invested approximately $60 million in Primus Green Energy since 2007.
"The commissioning of Primus' demonstration plant represents the fruits of our investment and further proof of Primus' ability to fulfill its promise," said Dr. Yom-Tov Samia, president and chairman of Primus Green Energy and president of IC Green Energy. "There is a major global need for alternative fuels derived from non-petroleum sources, which will contribute to energy independence and energy security for both the United States and Israel and Primus is uniquely poised to take advantage of attractive economics and a first-of-its-kind technology to make alternative fuels a commercial reality."
About Primus Green Energy, Inc.
Headquartered in Hillsborough, N.J., Primus Green Energy has developed an innovative alternative fuel technology that produces drop-in transportation fuels such as high-octane gasoline, diesel fuel or jet fuel directly from syngas derived from natural gas and/or other feedstocks. These drop-in fuels can be used directly in engines as a component in standard fuel formulas without costly engine modifications or changes to the fuel delivery infrastructure. The Primus Green Energy STG+ technology is a proprietary version of proven commercial technologies, and the technology has recorded the highest conversion efficiency rate in the industry. Primus Green Energy is funded by IC Green Energy, the renewable energy arm of publicly traded Israel Corp. For more information, visit www.primusge.com.
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