(Leaf Resources) Leaf Resources Ltd (ASX: LER, “Leaf” or “Leaf Resources”) is pleased to announce the signing of binding legal agreements with US-based project developer Claeris, LLC (“Claeris”), to establish a joint venture (JV) entity, Leaf Development, LLC (“Leaf Development”), for the purpose of developing up to five renewable chemical projects that utilise Leaf Resources’ proprietary GlycellTM process.
Claeris has a proven track record of developing successful, large-scale renewable projects, and believes that both the investment community and chemical industry are keen to participate in well-structured, well-credentialed renewable chemical projects.
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The joint venture arrangement with Claeris provides significant additional opportunities for the deployment of the GlycellTMprocess across a variety of biomass sources in a number of jurisdictions. In particular, Claeris has identified development opportunities using empty fruit bunches in Asia and hard woods in the US and will actively pursue these development projects.
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The GlycellTM Process is an innovative technology that uses a low cost, recyclable, biodegradable reagent glycerol, in a simple process that breaks down plant biomass into lignin, cellulose and hemicellulose at low temperature and pressure. The cellulose is then converted to cellulosic sugars through enzymatic hydrolysis and the lignin, hemicellulose and glycerol become valuable co-products.
Cellulosic sugars are a major feedstock for green, renewable biobased chemicals, bioplastics and biofuels, products whose markets are multi $billions and fast growing. Many biobased products can now economically replace petroleum based products.
The GlycellTM process can produce cellulosic sugars at under $50 per tonne when coproducts are included. This compares with $220 per tonne for sugars produced from the conversion of corn starch, the cheapest alternative and $280 per tonne for raw sugar.
By dramatically reducing the cost of the main feedstock for bio based chemicals, plastics and biofuels, the GlycellTM process has the potential to change the face of global renewable production. READ MORE