"With natural gas prices expected to remain low for many years to come, Primus' STG+ technology is well positioned to take advantage of today's market conditions without needing to spend enormous capital on engine and delivery infrastructure modifications," said Doyle. "As the most efficient GTL process on the market, the STG+ platform outshines competing platforms in terms of readiness to build, economic viability and technical ingenuity. I look forward to bringing my experience in project management and operations to help commercialize this technology, which has enormous potential to make a lasting impact on the alternative fuel industry and the entire energy landscape."
Primus Green Energy's first commercial plant will be designed to produce more than 25 million gallons per year of gasoline from natural gas-derived syngas, leveraging prices of domestically abundant natural gas that are their lowest in decades. Primus Green Energy estimates that the cost of production for its fuels will be competitive with petroleum-based fuels when crude oil is trading at $65 per barrel (oil is currently trading at approximately $95 per barrel).
Doyle is the latest addition to the management team. Primus recently added Nan Li, who joined the business development team, and Vincent Marchese, the company's new controller.
About Primus Green Energy, Inc. Headquartered in Hillsborough, N.J., Primus Green Energy has developed an innovative renewable drop-in fuel technology that produces high-octane gasoline or jet fuel that can be used directly in engines as a component in standard fuel formulas without costly engine modifications or changes to the fuel delivery infrastructure. The Primus Green Energy STG+ technology is a proprietary version of proven commercial technologies to convert syngas derived from biomass and/or natural gas to liquid transportation fuels such as gasoline, diesel and jet fuel. Primus Green Energy's technology has recorded the highest conversion efficiency rate in the industry. Primus Green Energy is funded by IC Green Energy, the renewable energy arm of publicly traded Israel Corp. For more information, visit www.primusge.com.SOURCE Primus Green Energy Inc.