Primus makes green gasoline from biomass

Feb. 17, 2012, Hillsborough, NJ – Primus Green Energy Ltd., the developer of renewable
gasoline based in Hillsborough, N.J., has announced that it has produced
its first sample of renewable drop-in gasoline through a proprietary
combination of biomass conversion technologies that transforms
herbaceous and woody biomass, in conjunction with natural gas, into
high-octane gasoline. The gasoline produced from the Primus technology,
which is virtually indistinguishable from gasoline produced from fossil
fuels, can be used directly in engines as a component of standard fuel
formulas and does not require costly engine modifications, overhauls of
the fuel delivery infrastructure or changes in consumer behavior.

The gasoline produced is a high quality product, with a higher-octane
level (93) and a lower level of benzene than gasoline produced from
petroleum. Primus Green Energy has produced fuel samples from a test
plant, recently broke ground on an automated demonstration plant and is
planning to break ground next year on a commercial plant in eastern
Pennsylvania that will be designed to produce 4.8 million gallons per
year of gasoline from wood pellets and non-food, herbaceous crops.

The easily scalable Primus Green Energy technology is a proprietary
combination of industry-proven methodologies and processes. The front
end consists of biomass gasification and the back end, the "STG Plus"
(syngas-to-green) gasoline process, is Primus Green Energy's proprietary
version of an established fuel synthesis technology.

"Our production of gasoline from biomass is a tremendous achievement,"
said Dr. Yom Tov Samia, chairman and CEO. "Energy security is an
enormous concern in the United States, and around the globe. The United
States spends more than $1 billion a day on foreign oil. Primus Green
Energy's technology increases the prospect of freeing the nation from
the grip of foreign oil by producing 'locally grown' gasoline at
competitive prices."

Primus Green Energy is funded by IC Green Energy, the renewable energy investment arm of publicly traded Israel Corp.

"The financial commitment of a major investor since our inception has
played a large role in our success, allowing us to proceed in a steady,
deliberate manner without the risky shortcuts that are sometimes taken
in the rush to commercialization," said Dr. Samia. "Moreover, we have
achieved success with only a fraction of the amount invested by our
competitors."

The development of renewable gasoline is essential to the nation's
energy security. The Primus Green Energy technology possesses financial
and technical advantages that successfully address many of the key
challenges facing biofuels companies today, including conversion
efficiency and feedstock flexibility.

The easily scalable Primus Green Energy technology employs improved,
proprietary versions of proven biomass steam gasification and fuel
synthesis processes that have produced gasoline and other fuels at a
commercial scale. The process has a conversion efficiency of 25 percent
— twice that of its closest competitor — and the company expects to
achieve a conversion efficiency of 33 percent, meaning it can produce
gasoline more economically.

On a commercial scale, Primus Green Energy estimates that its gasoline
will be cost-competitive with crude oil at approximately $60 a barrel.

"Other companies have failed to economically create gasoline from
biomass due to technology hurdles," said Dr. Samia. "Because we are
using variants of proven processes, we don't have as far to develop the
technology before we bring it to scale. Fortunately, we have an
experienced engineering/construction partner on our side, Bechtel
Hydrocarbon Technology Solutions, Inc., with a proven track record in
scaling up these technologies."

About Primus Green Energy Ltd.

Based in Hillsborough, N.J., Primus
Green Energy has innovated a renewable drop-in fuel technology that
produces high-octane gasoline that can be used directly in engines as a
component in standard fuel formulas without costly engine modifications
or changes to the fuel delivery infrastructure. The Primus Green Energy
technology is a proprietary version of proven commercial technologies to
convert herbaceous crops and woody biomass to liquid transportation
fuels such as gasoline, diesel and jet fuel. Primus Green Energy's
technology has recorded the highest cellulose-to-gasoline conversion
efficiency rate in the industry; is feedstock flexible through the use
of natural gas as a supplement or replacement for biomass; and has low
production and operational costs. Primus Green Energy is funded by IC
Green Energy, the renewable energy arm of publicly traded Israel Corp.
For more information, visit
www.primusge.com.