A company that develops 10-15 million gallon per year refining systems has signed a deal with North Carolina State University to use the school’s technology for producing biofuels from triglycerides (fats) and for producing products from genetically modified marine microalgae.
Avjet Biotech, Inc. (ABI), parent company of Red Wolf Refining, will use the technology to make aviation biofuels:
“We are delighted to have completed a license agreement with NC State following several months of discussions with the university on its advanced biofuel research,” said Marty Oliver, president of ABI. “We anticipate a major biofuel refining model will be the result of this landmark deal.”
“When I learned what NC State was accomplishing with its biofuels program, and what its ultimate goals were, I knew this project was deserving of financial support to further its research,” said Don Evans, chairman and CEO of ABI. “This agreement is a major piece in our plan to provide aviation biofuels internationally that will benefit the aviation industry world-wide.”
“Following talks with the management of Avjet Biotech, I am happy to announce that we have arrived at an agreement that favors all parties involved,” said Dr. Terry Bray, senior licensing associate at NC State’s Office of Technology Transfer. “On behalf of the university, we look forward to our continuing involvement with Avjet.”
Red Wolf Refining uses a thermal catalytic process to refine any triglyceride into aviation biofuels and promotes itself as “dedicated to supporting the U.S. military in its goal to eliminate dependence on foreign oil.”