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Garden State company converts biomass into ‘green gasoline’
It may only amount to a drop in the bucket for a nation as thirsty for oil as the United States, but a Hillsborough company is betting it can convert wood pellets and other biomass into a renewable gasoline.
Primus Green Energy, an 11-year-old company, already has produced fuel samples from a pilot plant located in a three-building complex off of Route 206, just north of Princeton. It now is building a demonstration plant at the facility and hopes to break ground next year on a commercial plant.
It’s no small gamble. The privately held company has raised nearly $40 million from its funder, IC Green Energy, a subsidiary of publicly traded Israel Corp. It hopes to raise another $50 million to $100 million this year to help pay for the new commercial plant, a facility that would convert 44,000 tons of wood pellets into 4.8 million gallons of “green gasoline.” (Johnson, NJ Spotlight)
