GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Cool Planet has been named a winner of the New Energy Pioneer Award 2015 for its hydrocarbon and biocarbon products that address three of the world’s largest markets: energy, food and water. The award from Bloomberg’s New Energy Finance annually recognizes 10 global, game-changing companies for their transformative potential and scale, technological innovation and business momentum.
Cool Planet is a high growth, green energy company commercializing a revolutionary technology that converts biomass into a range of attractive products. These include hydrocarbon fuels and chemicals, as well as biocarbon products, such as CoolTerra™, the company’s proprietary organic soil enhancement.
“We’re honored to be named a New Energy Pioneer,” said Barry Rowan, Cool Planet’s EVP & CFO who accepted the award on behalf of the company. “Cool Planet is committed to changing the world for good through our revolutionary technology, and we are grateful to have received this important recognition.”
Cool Planet’s hydrocarbon CoolFuel™ products such as gasoline, jet and diesel fuel are chemically identical to fossil fuels. These products can be blended into the current fuel supply and reduce greenhouse gases without sacrificing performance or increasing prices at the pump.
Cool Planet’s biocarbon products sequester carbon and deliver transformative benefits to industries as diverse as agriculture, water, and livestock health. CoolTerra™ is highly porous, acting like a sponge to retain water and nutrients at a plant’s root zone, increasing water use efficiency and reducing the need for fertilizer. It also works to decontaminate toxins and enhancing oxygen transport into the soil. CoolTerra™ also sequesters carbon from the atmosphere, helping to reverse climate change by taking CO2 captured by plants and storing it in the soil underground for hundreds of years.
“Our New Energy Pioneers program seeks to recognize innovative companies that have the potential to impact the future energy landscape,” said Michael Wilshire, Head of Analysis and New Energy Pioneers Committee Chair, Bloomberg Energy Finance. “Second generation biofuels can play an important part in this, by reducing CO2 emissions and reducing dependence on fossil fuel based gasoline. The Pioneers Selection Committee was impressed by Cool Planet’s carbon-negative approach for making a blendable gasoline substitute from biomass, as well as producing biochar as a valuable soil enhancement by-product.”
Cool Planet accepted the award today at The Future of Energy Summit 2015, a global summit that brought together leaders in energy, finance and policy.
About Cool Planet
Cool Planet is commercializing a technology to create green fuels and biocarbon in ways that can change the world for good. The company’s green fuels are chemically identical to fossil fuels, and its CoolTerra™ product increases crop productivity and promotes more robust plant health while reducing fertilizer and water requirements. The process is capable of being carbon-negative, reversing the consequences of carbon dioxide build-up from fossil fuels. Cool Planet’s technology has a broad portfolio of pending and granted patents. Strategic investors include BP, Google Ventures, the Constellation division of Exelon, Energy Technology Ventures (GE, NRG and Conoco Phillips), and leading venture capital investors, including North Bridge Venture Partners.