Company Launches Updated Website to Highlight Market Potential and Competitive Advantages
Santa Barbara, CA - February 19, 2008 - Carbon Sciences, Inc. (CABN), the developer of a breakthrough technology to transform carbon dioxide (CO2) emissions into gasoline and other fuels, today announced the launch of an updated website that reflects its market potential and key advantages over other renewable fuel technologies. The website describes how the Company's breakthrough technology has the potential to produce more than 30% of global liquid fuel supply using less than half of the CO2 emissions from coal-fired power plants.
With global population projected to increase from 6.5 billion in 2006 to 8.5 billion by 2030, the Energy Information Administration (EIA) estimates that worldwide energy consumption will increase by 50% in the same period. This increase translates to a consumption of over 112 million barrels of crude oil per day, up from the recent 90 million barrels. Concurrently, annual CO2 emissions will increase from 29 billion tons in 2006 to 43 billion tons by 2030. The largest and most concentrated source of CO2 emissions is the growing use of coal-fired power plants, due to the low cost and abundance of coal.
Unlike other renewable fuel technologies, Carbon Sciences' CO2-to-Fuel technology transforms CO2 directly into renewable fuels that are identical to gasoline and other fuels in use today. Based on a scenario of using only 40% of CO2 emissions from coal-fired power plants in 2030, Carbon Sciences' technology can produce nearly 30% of the world's liquid fuel supply and mitigate 11% of the world's CO2 emissions.
Carbon Sciences believes that coal-fired power plants will not disappear anytime soon, but the problem of their massive CO2 emissions must be addressed immediately. The only other approach to CO2 mitigation contemplated today is sequestering, or burying, CO2 in underground caverns and the ocean. Carbon Sciences believes that this is a dangerous and expensive solution, as demonstrated by the Energy Department's 2008 rejection of a $112 million carbon sequestration proposal to reduce 60% of CO2 emissions from the Capitol Power Plant, which provides electricity to the U. S. Congress and other capitol buildings.
Byron Elton, President and COO of Carbon Sciences, commented: "The most viable and sustainable solution to the energy and climate challenge is the direct and rapid transformation of CO2 into fuel. Our CO2-to-Fuel technology is being developed with that goal in mind. Our updated website describes our market potential and key advantages. No other approach, including biodiesel or cellulosic ethanol, can match our impact in addressing the energy and climate challenges."
Mr. Elton continued: "At a projected 70% CO2 to fuel conversion efficiency, our technology can transform the 118,851 metric tons of annual CO2 emissions from the Capitol Power Plant into 12,479,355 gallons of gasoline. Using our technology, the U. S. Congress would not be forced to view CO2 emissions from its power plant as a $112 million taxpayer expense; but rather, a lucrative, sustainable and socially responsible revenue stream. Likewise, coal-fired power plants would not see pending CO2 legislation as a burden; but rather, a new and exciting business opportunity."
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.