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Blue Biofuels Receives Canadian Patent on CTS Process
CTSCTS(US:CTS) globenewswire.comยท2024-05-21 21:37

Core Insights - Blue Biofuels, Inc. has received a Notice of Allowance in Canada for its primary patent on the CTS process, which converts cellulosic materials into sugar [1] - The company has successfully changed auditors and filed its first quarter 2024 financial statements on time [2] - Blue Biofuels aims to produce biofuels through its patented Cellulose-to-Sugar (CTS) technology, which is a sustainable and renewable energy system [3] Patent and Technology - The CTS process is patented and allows for the conversion of various plant materials, including agricultural waste, into sugars and lignin [3] - The company has already received patents in the United States, Japan, and El Salvador, with expectations to receive them in the EU and other regions soon [1] Financial and Operational Updates - Blue Biofuels engaged Assure CPA, LLC as its new independent PCAOB-certified audit firm after the previous auditor was suspended [2] - The company completed the review of its first quarter 2024 financial statements and filed them within the grace period [2]