Atlantic Biomass signed a Letter of Intent with Bionoid signaling their joint commitment to producing commercial quantities of Sustainable Aviation Fuels (SAF) from residual hemp biomass. This LOI will lead to the production of SAF and other bioproducts from up to 190,000 tons of annual residual hemp biomass harvests.
The first stage of this project will be based on hemp from Ecuadorian farms that are part of the Cannabis Biomass Production Pilot Project that Bionoid has recently developed with the Ecuadorian Center for Environmental Biotechnology (CEBA). Bionoid, in a press release, said that the combination of its Integrated Farmer Program (IFP) with this simple and efficient process developed by Atlantic Biomass and their partners at the University of Maryland Eastern Shore, The Ohio State University, and Hood College, will lead to a competitively priced source of renewable jet fuel.
Besides providing a very low Green House Gas renewable jet fuel, this will be able to provide a solid, sustainable income for growers international outside of the often-volatile CBD market, the company noted. Income from the purchase of biomass for jet fuel production is estimated at $20 million over the three-year period included in the LOI.
Primary Phase II prototype testing is envisioned to take place in conjunction with the University of Maryland Eastern Shore Department of Agriculture, Food, and Resource Sciences.