June 12, 2012, Albuquerque, NM - Incitor Incorporated ("Incitor"), a Delaware Corporation based in
Albuquerque, N.M. (http://www.incitor.com),
announced today that the Cottonwood Technology Fund ("Cottonwood") (http://www.cottonwoodtechnologyfund.com/)
led an investment group to fund Incitor's next growth phase.
Incitor's patent-pending low-temperature chemical process breaks down
almost any biomass from agricultural, solid, woody or algal waste to
create commodity petrochemical replacements, specialty bio-based
chemicals, and Alestron, a novel third generation biofuel compatible
with both gasoline and diesel. Incitor is rapidly scaling up its process
to a 15,000-30,000 gallon per year demonstration facility. Incitor's
technology will allow biofuel production at about $2/gallon and also
reduces the production cost of important industrial chemicals such as
levulinates, formates, and proprionates by about 80%.
"We believe Incitor's unique low cost chemistry brings new economics to
the biofuels and biochemicals industries. In addition, their inclusion
of alcohols (methanol and ethanol) in their synthetic process creates
interesting opportunities to create higher value products from ethanol
and natural gas," said David Blivin, Managing Director of Cottonwood
Technology Fund. "We couldn't be more excited in supporting Incitor's
management in bringing their technology to market."
Dr. John Elling, CEO of Incitor, added, "Incitor is exceptionally
pleased to share the vision of a renewable fuel and chemical future with
Cottonwood. Cottonwood's support will enable Incitor to rapidly
commercialize its unique biofuel and biochemical production processes.
We look forward to working with David Blivin and his team."
About the Cottonwood Technology Fund
Cottonwood Technology Fund (CTF) is an early-stage technology
commercialization fund with offices in El Paso, Texas, and Santa Fe, New
Mexico. It aims to cultivate the entrepreneurial community of the Paso
del Norte region running along the Rio Grande River from Los Alamos, New
Mexico, to El Paso, Texas. For more information, please contact David
Blivin, Managing Director, at (505) 412-8537 or
Incitor turns renewable waste biomass into valuable products: fuel,
additives, petrochemical replacements and specialty chemicals. Expert in
furan chemistry and homogeneous organic catalysis, Incitor has created
novel patent-pending technology to convert biomass of all types into new
energy dense fuels and chemicals. Renewable chemicals produced from the
proprietary process include furanics, levulinates and propionates. The
renewable biofuel, Alestron, is an energy dense fuel that can displace
high percentages of gasoline, diesel, and two-cycle engine fuels. For
more information, please contact Jacob Berman, VP Business Development,