Cool Planet’s green fuels are chemically identical to fossil fuels, with one of the lowest capital costs in the industry. The company’s process also produces a biochar-based product called CoolTerra that has the capability of making the fuel “carbon negative,” reversing the consequences of CO₂ build-up from fossil fuels, the company says. Used as a soil amendment, its CoolTerra biochar product also increases crop productivity and plant health while reducing water and fertilizer requirements.

Cool Planet’s patented technology comprises three core components: Biomass Pyrolysis: Biomass is processed through a mechanical system that uses pressure and heat to create streams of useful hydrocarbon components. Cool Planet’s sources of biomass include corn stover, wood chips, and fast growing, non-food energy crops such as miscanthus. Catalytic Conversion: Cool Planet has developed a number of proprietary catalytic conversion processes to convert these useful hydrocarbon components into different types of fuels. One of the catalytic conversion processes creates a high-octane gasoline blend stock that can be used in today’s standard automobiles requiring no change to existing conventional fuel distribution systems. Carbon Capture: Once the useful components for fuel have been removed, the biofractionation captures the leftover plant matter in a solid carbon form called biochar. This excess carbon is highly porous and has beneficial water and nutrient retaining capabilities. By creating renewable fuel and sequestering the biochar in the ground as soil enhancer, the process permanently removes atmospheric CO2 for hundreds of years. Click to enlarge.

Cool Planet is moving aggressively to commercialize its technology and scale production of its renewable fuel and CoolTerra products. The company broke ground on its first biofuel production facility in Alexandria, Louisiana, on 26 February 2014. The plant is expected to produce 10 million gallons per year of high-octane, renewable fuel and gasoline blendstocks, as well as CoolTerra biochar products. The company has begun selling CoolTerra for use in commercial agriculture and recently signed an agreement with Organic Waste Solutions (OWS) for water treatment and remediation.

North Bridge Venture Partners and Concord Energy were the lead investors for the round. Funding also came from existing investors BP, Energy Technology Ventures (GE, ConocoPhillips and NRG Energy), Google Ventures and the Constellation division of Exelon.

Cool Planet’s business model of building small-scale facilities located close to the biomass fuel source provides one of the lowest capital costs in the industry, enabling the company to compete directly with the traditional oil industry. Frost and Sullivan recently honored Cool Planet with a Technology Innovation Leadership Award for 2014.