Accenture Report
Accenture recently published (Nov 2009) a report entitled "Betting on Science - Disruptive Technologies in transport fuel". In this Licella was case studied following Accenture's review of more than 100 companies and was described as potentially revolutionary due to its ability to produce fungible or "drop in" fuels, able to use existing oil fuel infrastructure.
For Accenture to view a technology as "disruptive", it needed to meet the following criteria (Licella fulfills all of these and exceeds many):
- Scaleable: Greater than 20 percent potential impact on hydrocarbon fuel demand by 2030.
- GHG impact: Savings greater than 30 percent relative to the hydrocarbon it is replacing.
- Cost: Competitive at an oil price of $45 to $90 per barrel, at commercial date.
- Time to market: Commercialization date in less than five years.
LER's bio crude is produced from modern biomass and is just the type of product regulators where envisaging when they past significant legislation looking for alternatives to petroleum based fuels.
These Bio-fuels, which were originally seen as a great opportunity, have run into a number of problems the major ones being:
- Ensuring they have a positive and not detrimental environmental impact
- Do not have usability issues
- Can be cost-competitive with fossil fuels
4 Have energy content comparable to traditional fossil fuels
Licella's bio crude addresses all of these issues and is considered as a 2nd generation bio fuel.