Management Looks Forward to Substantial Progress in Developing the Company's Breakthrough CO2 to Fuel Technology
Santa Barbara, CA - January 20, 2009 - Carbon Sciences, Inc. (CABN), the developer of a breakthrough technology to transform carbon dioxide (CO2) emissions into gasoline and other fuels, provided a recap of its achievements in 2008 and an overview of its plans for 2009.
While the economic turmoil of 2008 disrupted the plans of many businesses, Carbon Sciences continued to deliver technology innovations based on one fundamental vision - transforming CO2 into high value products. In 2008, the company made significant progress toward that vision.
Some of Carbon Sciences' achievements in 2008 include the following:
- Developed the technology concept and related intellectual property to transform CO2 into high value carbonate compounds for niche industrial markets such as paper production, pharmaceuticals and plastics.
- Garnered national media attention from prestigious media firms such as CNN, Popular Mechanics and CNET.
- Developed interest from potential strategic licensing partners.
- Expanded its research and development facilities.
- Most importantly, invented a breakthrough technology to transform CO2 into transportation fuel, such as gasoline and jet fuel that can be fed directly into the existing fuel infrastructure, supply chain and vehicles.
- Appointed Dr. Naveed Aslam, PhD, as chief technology officer to lead development efforts.
- Recruited Byron Elton, former senior AOL executive, as President and COO to lead marketing and business development efforts.
With the senior management team in place and an anticipated "green" Obama administration, Carbon Sciences is uniquely poised to take full advantage of future opportunities. The company's plan for 2009 includes the following:
- Develop a functional prototype of its breakthrough CO2 to fuel technology in Q1 2009. This prototype is expected to transform a stream of CO2 gas into a liquid fuel that is: (i) combustible, and (ii) usable in certain vehicles.
- File a series of patent applications to protect the various innovations to transform CO2 into fuel.
- Enhance the prototype to demonstrate a full range of cost effective process innovations to transform CO2 into fuel.
- Launch a national media campaign describing the world's first CO2 to fuel technology for the direct production of renewable fuels that can be used with existing infrastructure and vehicles.
- Begin development of a complete mini-pilot system to demonstrate the company's CO2 technology on a larger scale.
- Prepare for the development of a full pilot system with strategic partners sometime in late 2010 or 2011.
Byron Elton, the company's President and COO, commented on Carbon Sciences' success to date and the opportunities ahead: "Albert Einstein once said, 'In the middle of every difficulty lies opportunity'. Carbon Sciences is embarking upon perhaps the greatest opportunity - fundamentally contributing to a sustainable world of energy consumption with a new, renewable energy, CO2 to fuel. This year, we expect to see new policies that reflect a world ready to invest in, and embrace renewable energy. These are exciting times and we are committed to playing an historic role toward a world of sustainable fuel consumption and climate stability."
About Carbon Sciences, Inc.
Carbon Sciences, Inc. is developing a breakthrough technology to transform carbon dioxide (CO2) emissions into the basic fuel building blocks required to produce gasoline, diesel fuel, jet fuel and other portable fuels. Innovating at the intersection of chemical engineering and bio-engineering disciplines, we are developing a highly scalable biocatalytic process to meet the fuel needs of the world. Our solution to energy and climate challenges is a sustainable world of fuel consumption and climate stability by transforming CO2 into fuel. For example, Carbon Sciences' breakthrough technology can be used to transform CO2 emitted from fossil fuel power plants into gasoline to run cars and jet fuel to fly aircraft. To learn more about the Company, please visit our website at http://www.carbonsciences.com.