(Honolulu, HI, January 27, 2011) — HR BioPetroleum, Inc. (HRBP), a Hawaii-based and -founded renewable biofuels company, today announced that it will acquire Shell’s shareholding in Cellana, a joint venture between Shell and HRBP. On January 31, 2011, HRBP will become the sole owner of Cellana, including its six-acre demonstration facility in Kona, Hawaii.
In 2007, HRBP and Royal Dutch Shell PLC, the international energy company, formed Cellana as a separate joint venture to build and operate a demonstration facility to grow marine algae and produce vegetable oil for conversion into biofuel. To date, it is one of the most advanced operational demonstration facilities among algae-to-biofuel organizations and companies in the United States.
‘‘The acquisition of Cellana represents a significant opportunity for HRBP and its corporate and project stakeholders, including the University of Hawaii, Hawaiian Electric Company, Maui Electric Company, the National Alliance for Advanced Biofuels and Bioproducts consortium, the U.S. Department of Energy and others,’’ said Ed Shonsey, HRBP CEO.
‘‘We will continue to operate Cellana’s Kona demonstration facility and to continuously improve the economics for growing marine algae using HRBP’s patented process. Based on HRBP’s and Cellana’s results to date, we believe this technology holds great potential for the economical production of algae and algae-derived products for applications within the aquaculture and animal feed markets, as well as for the production of algal oil for conversion into biofuels.”
To support the transition Shell has agreed to provide short-term funding to advance and focus the algae technology development program. HRBP will further develop the technology at the Kona demonstration facility with the objective of first commercial deployment at the Ma’alaea site the company has selected on Maui, Hawaii.
Algae, the fastest growing plant on the planet, can produce substantially greater oil per acre than traditional oil seeds while simultaneously recycling industrial emissions of CO2, greatly reducing the carbon footprint as compared to other processes. Many strains of algae can grow optimally using brackish water, seawater or wastewater.
About HRBP and Cellana
HR BioPetroleum (HRBP) a Hawaii-based and -founded renewable biofuels company, and Cellana are focused on using the most productive plants on earth – marine algae – to produce feedstocks for biofuel, animal feed, and other valuable applications while simultaneously reducing industrial emissions of CO2. Using the joint HRBP/Cellana technologies, HRBP intends to construct and operate commercial algae facilities to produce fuel, aquaculture and other animal feeds, and other valuable products. For more information about HRBP and Cellana, please go to www.hrbp.com and www.cellana.com.
For more information, contact:
Piia Aarma at Pineapple Tweed, 808-221-2102