The experimental facility in New Jersey will produce up to 100,000 gallons of gasoline annually, refined from natural gas.
Israel Corporation (TASE: ILCO) unit IC Green Energy Ltd. has inaugurated an experimental facility in New Jersey to produce gasoline from natural gas. IC Green Energy develops technologies to refine fuel from natural gas and biomass.
Israel Corp CEO Nir Gilad and IC Green Energy president and CEO Dr. Yom-Tov Samia attended the inauguration along with New Jersey Lt. Governor Kim Guadagno and other dignitaries.
The plant, owned by IC Green Energy subsidiary Primus Green Energy Inc. can produce up to 100,000 gallons (440,000 liters) of gasoline a year
"There is a major global need for alternative fuels derived from non-petroleum sources, which will contribute to energy independence and energy security for both the US and Israel and Primus is uniquely poised to take advantage of attractive economics and a first-of-its-kind technology to make alternative fuels a commercial reality," said Samia.
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2013
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