Genesis Biofuel forms joint venture with Abundant Energy Solutions

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Genesis Biofuel forms joint venture with Abundant Energy Solutions

Genesis Biofuel has signed memorandum of understanding
with Abundant Energy Solutions (AES) to form a joint venture to engineer and
construct algal biofuel refineries.

The joint venture focuses on advancing algae to biofuel
conversion as well as utilization of the resultant algae biomass as a feedstock
for downstream cellulosic ethanol production.

As the first step of the JV, the companies will complete
their technology demonstration laboratory in three months’ time. The laboratory
will be located in AES’ research facility in Englewood, Colo. This will lead to
the construction of their pilot facility at a cement plant location, which is
tentatively scheduled to begin first quarter 2013.

Joe Nieusma, AES CEO, said, “Proprietary technology in
multiple steps of these processes will combine linearly to create very
favorable results for the cement company, Genesis, AES and the green energy
economy. Algae is the future of biofuel as both oil and cellulosic ethanol.
Genesis Biofuel and AES are very well positioned to bring this technology to
the world.”

AES, an affiliate of Colorado Energy Research
Technologies, is a research company whose purpose is to develop innovative
scientific solutions and technologies to solve challenges related to energy
production, distribution and utilization in all forms.

“Abundant Energy Solutions’ proven technologies in algae
lighting, harvesting and oil extraction solutions, working with our processes,
will tremendously increase and augment our overall output and efficiency,’ said
Harvey A. Dorren, president and CEO of Genesis Biofuel. “In addition, our
combined technologies will enable us to offer solutions to additional algal-to-biofuel
alternatives such as utilizing waste water.”

Genesis Biofuel sequesters CO2 directly from cement
manufacturing plants, greatly reducing the greenhouse gas emissions from these
facilities. Genesis refineries utilize these gases to produce both algal
biofuel for commercial and military diesel engines and biomass, which can be
used in ethanol production.

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