Shares of alternative energy solutions provider, Carbon Sciences, Inc. were up more than 70 percent in morning trading on Tuesday,June 8th, 2010.
Carbon Sciences announced on Monday that it filed the first of a series of patent applications for its clean-tech CO2 based Gas to Liquids (GTL) fuel technology for transforming a combination of natural gas and carbon dioxide (CO2) directly into gasoline. This first patent application discloses the design and manufacturing of a novel chemical catalyst that converts methane gas and carbon dioxide gas (CO2) directly into gasoline. These greenhouse gases can be sourced from natural gas fields or human made coal-fired power plants, landfill gas, municipal waste, and algae.
“This heralds a new era for Carbon Sciences and means that our plan for delivering a market-ready technology could be delivered as soon as next year,” said Byron Elton, CEO of Carbon Sciences in a statement. “The ongoing tragic events involving BP’s unchecked flow of oil into the Gulf of Mexico further underscores the urgent need to reduce and eliminate our addiction to petroleum, foreign and domestic. Carbon Sciences’ breakthrough technology takes us closer to a world without petroleum by essentially transforming pollution into energy.”
Shares were trading as high as $0.12 in morning trading on Tuesday, up 71 percent from Monday’s closing price of $0.07 per share.