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September 9, 2008
THOUSAND OAKS, Calif., Sept. 9 /PRNewswire/ --Energy crop company Ceres, Inc. announced today that it will trial improved switchgrass cultivars and high-biomass sorghum hybrids with Range Fuels, Inc. as part of a cooperative field trialing program at the site of Range Fuels' commercial-scale cellulosic ethanol plant, now under construction near Soperton, Georgia, about 150 miles southeast of Atlanta.
While wood residues will be the primary feedstock for this first-of-a-kind biorefinery, Ceres said that Range Fuels is also interested in better understanding the economic, environmental and logistical attributes of non-food, low-carbon grass species in the production of cellulosic biofuels.
These grass species have a number of advantages: they have relatively rapid breeding cycles, they are highly efficient at storing sunlight in the form of carbohydrates, and they are widely adapted. Last spring, Ceres provided seed of new, high-yielding varieties that was planted in demonstration plots on Range Fuels' Soperton Plant site. The crops will be assessed for several years.
"The goal is to determine the best crop management, storage and handling practices for Georgia, and just as important, the performance of herbaceous biomass in Range Fuels' conversion process," said Anna Rath, Ceres vice president of commercial development. She noted that grass species, including both annuals and perennials, can provide a flexible and reliable supply of raw materials for fuel and power. "This is an important step in demonstrating that energy crops can be successfully and sustainably grown in the area surrounding the Range Fuels Soperton Plant site," she said.
Mitch Mandich, CEO of Range Fuels, said this project will inform future expansion decisions by the green energy company. "As we think about expanding production beyond our Soperton Plant, which will use woody biomass, we need to start understanding how a variety of high-yield, minimal impact biomass feedstocks, such as those being explored by Ceres, can assist in our expansion efforts. Our relationship with Ceres will be invaluable in this process."
Ceres recently announced that it will commercialize its first seed
varieties under the trade name Blade Energy Crops. Rath said that the company will begin booking seed orders this fall for the 2009 growing season. "We are getting calls from agricultural producers interested in putting 10 or 20 acres in the ground to gain a better understanding of these crops. Some are located near existing or planned biorefineries, while others are looking to attract biorefineries to their area," she said. Rath noted that grass crops appear to be well suited to both thermochemical conversion systems as well as biochemical processes that utilize enzymes in the production of biofuels.
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February 11, 2008
Ceres Inc., located in Thousand Oaks, Calif., announced Feb. 7 it will be sowing thousands of acres of switchgrass, high-biomass sorghum and other energy crops over the next three years around St. Joseph, Mo., to support a cellulosic ethanol facility being engineered by ICM Inc. Last week, the U.S. DOE announced a $30 million grant to support the development of the demonstration-scale project.
"We are pleased that ICM chose Ceres as a seed provider for the dedicated energy crops they needed," Ceres Chief Executive Richard Hamilton said. "They have been a clear leader in optimizing the starch-to-ethanol process, and we believe they are well-prepared to make next-generation biofuels competitive with starch ethanol and petroleum."
Ceres' primary role will be to supply seed of specially developed energy crop cultivars to nearby farmers, who will grow the plants and harvest the biomass. The company will also provide agronomic recommendations to the overall venture, which will compare numerous raw materials including Ceres' dedicated energy crops for their conversion efficiency and fuel yields, as well as their economic viability.
According to the DOE grant announcement, ICM's proposed plant will be located in St. Joseph, Mo., and will itilize agricultural residues such as corn fiber and corn stover, as well as energy crops such as switchgrass and sorghum using an integrated biochemical and thermochemical process.
"Once we get crops in the field and biomass moving through a refinery, the industry will start bringing down costs and ramping up production," Hamilton said. Noting that the recently signed Energy Independence & Security Act of 2007 calls for a minimum of 16 billion gallons of cellulosic ethanol per year from biomass, he added, "getting there will require the application of new technologies, such as biotechnology, both in the field and at the biorefinery." These improvements are expected to increase net energy benefits and reduce greenhouse gas emissions, Hamilton predicts. Currently, switchgrass-to-ethanol produces approximately five times more energy than is necessary to grow, harvest and process it, and results in 90 percent fewer greenhouse gas emissions than petroleum fuels.
Other participants in the project include Agco Engineering; the Agricultural Research Service's National Center for Agricultural Utilization Research in Peoria, Ill.; Edenspace Systems Corp.; the DOE's National Renewable Energy Laboratory in Golden, Colo.; Novozymes North America Inc.; South Dakota State University; Sun Ethanol Inc.; and VeraSun Energy Corp.
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9/27/07 -Energy crop company Ceres, Inc. announced today that it has raised $75 million through a private offering of convertible preferred stock. The late-stage financing round was led by Warburg Pincus, the global private equity firm, which has extensive experience and a long track record of investing in energy, alternative energy and renewables.
A seed and traits developer, Ceres plans to use the proceeds for research and product development activities in several dedicated energy crops, which are bred to maximize yields of plant biomass --the energy-rich source of a new generation of biofuels. The funds will also be used for capital expenditures and general corporate purposes.
Ceres President and CEO Richard Hamilton welcomed Warburg Pincus' vote of confidence. "Coming from one of the energy sector's top private equity firms, this late-stage investment is a key validation of our growth plans. We now have the resources we need to expand the scale of our commercialization efforts, and the independence to broadly collaborate with downstream players in the transportation fuel industry."
Mr. Hamilton noted that the genomics-based tools and biotechtraits that Ceres has developed for corn and other row crops can be fully leveraged in dedicated energy crops. The company also plans to continue the discovery and licensing of its traits to other businesses outside of energy crops.
Chansoo Joung, a Warburg Pincus Managing Director, said that the cellulosic biofuels industry shows promise of significant growth and is likely to become a material part of the transportation fuel market in the next decade. "We believe that Ceres is well-positioned to succeed as a leading supplier to energy crop growers and cellulosic biorefineries. The company has a strong track record in research and development and an intellectual property position that has been validated by industry-leading licensing agreements," commented Mr. Joung.
Within its energy crop business segment, Ceres' development efforts cover switchgrass, sorghum, miscanthus, energycane and woody species. One of its first seed products, a high-yielding switchgrass cultivar, is currently scheduled for commercial launch in 2009. The company's biotechpipeline includes traits that can improve the economics of biofuel production as well as the environmental benefits of energy crops, including drought tolerance and nitrogen-use efficiency.
Morgan Stanley acted as an advisor to Ceres in the transaction. Other aspects of the offering and its participants were not disclosed.
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Technology
Privately-held plant biotech company utilizing genomics technologies to develop energy crops, such as switchgrass, sorghum, miscanthus, energycane and woody crops for cellulosic ethanol.
Technology platforms:
-High-throughput genomics & model systems
-Compositional analysis
-Marker-assisted breeding
-Biotechnology
(FAQ's from their web site)
When do you plan to sell your first energy crop products?
Our first cultivar will be a high-yielding switchgrass, scheduled for release in 2009. Other energy crops and varieties will follow.
I hear negative things about ethanol; how are energy crops different?
Most of the news coverage about ethanol is directed at ethanol made from corn starch, and unfortunately, a lot of it is inaccurate or uses outdated information. Biofuels made from new sources, such as dedicated energy crops, have numerous economic and environmental advantages. For instance, these crops require fewer passes through the field, and can yield more fuel per acre.
Where can I plant energy crops?
The crops themselves are widely adapted and we encourage growers to learn more about them through local extension agents and universities. Economics will likely dictate that commercial crops need to be planted near a biorefinery.
Why choose Ceres products over others?
We are developing crops and cultivars solely with biofuel production in mind. By applying our proprietary technology to plant breeding and crop biotechnology, we can increase biomass yields and introduce other traits that will make farming and processing biomass into fuel more profitable.
Are all energy crops perennials?
No. For instance, sorghum is planted annually in the U.S. It has very high biomass yields and low input requirements, and has been identified by the government and university researchers as an energy crop.
What happens if ethanol is replaced with another biofuel, like biobutanol?
Dedicated energy crops can be fermented or processed into any number of biofuels, including biobutanol, biogas, and other fuel molecules. Yield density and composition of biomass...traits that we can optimize through breeding and biotechnology...play an important role regardless of the end product.
How do biomass fuel yields compare to ethanol from corn starch?
Today's technology can produce 80 gallons of ethanol from every ton of biomass, with 100 gallons per ton projected in the future. Corn ethanol plants can produce about 2.75 gallons of ethanol from each bushel.
What about the future?
The corn seed industry says average national yields of 300 bushels per acre are possible. Combined with refining improvements and the use of corn stover (averaging 4 tons per acre), that would yield about 1,300 gallons of ethanol per acre (900 from the corn grain and 400 from the stover). However, even when this goal is reached, energy crops will remain the more productive alternative. By the time we reach 300bu/acre for corn, energy crop yields will also have improved substantially...we believe up to 20 tons per acre. At the same conversion ratio of 100 gallons per ton, a 20-ton per acre energy crop will yield 2,000 gallons.
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Poplar Tree Farm
* Hybrids produce 3 to 6 times more wood per acre per year than natural forests
* Comprised of 60+% cellulose and hemicellulose
* Genome is well-understood.
* Can be harvested on 5-to 15-year cycles and often re-grow from the roots and trunks
Woody Crops Target Range:
Our work is also looking at how to partition carbon into specific portions of the plant, such as roots, and into types of natural plant compounds that are highly resistant to breakdown in the environment.
Poplars are considered the model for tree biotechnology and genomics. The results of this program will have application in other energy crops.
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