The new JV will be responsible for establishing production facilities to convert non-food biomass into biofuels and soil enhancing biochar.
Cool Planet will economically convert non-food biomass into high-octane, drop-in biofuels by deploying its disruptive technology through small scale bio refineries. The process also produces a byproduct, biochar, which can be used as bio-fertilizer.
Additionally, Concord Energy has invested in Cool Planet, joining other companies including BP, Google Ventures, Energy Technology Ventures and Constellation.
Concord’s Asset Group CEO John Stuart said that the company was selected as a partner in the joint venture by Cool Planet, which has developed a technology to produce biofuels.
"Concord has extensive operational and development experience in Asia Pacific, and we look forward to working with Cool Planet and its partners in growing biofuels production in the region," added Stuart.
