Attis Industries announces license agreement with DGIST
Attis Industries announced the execution of a sponsored research and exclusive license agreement with Daegu Gyeongbuk Institute of Science and Technology, to develop and commercialize processes that use sunlight to efficiently promote conversion of carbon dioxide and water into hydrocarbon fuels compatible with the current energy infrastructure. The new agreement is intended to build on the Company's and DGIST's prior work, including the work of Professor Su-Il In and his team at DGIST, as recently reported in Energy and Environmental Science, a journal published by the Royal Society of Chemistry, in an article entitled High-Rate Solar-light Photoconversion of CO2 to Fuel: Controllable Transformation from C1 to C2 Products. Professor In and his team recently demonstrated CO2 photoconversion efficiencies exceeding ten times anything previously reported, achieving sunlight-to-fuel photoconversion efficiencies of up to 3.3%. Such efficiencies are an important milestone, and demonstrate that an industrial-scale sunlight-powered CO2 to hydrocarbon fuel technology is realistic to envision. The Company expects to collaborate with DGIST and provide the adjacent research and other resources needed to increase conversion efficiencies even further, while expanding process tolerances and capabilities. The Company's early-stage commercialization targets include production of commercially-meaningful yields of methane for direct use and conversion into methanol, synthesis gas for conversion into Fischer-Tropsch fuels, and ethane for conversion into polyethylene and ethanol. Each target has extreme significance to the Company's biorefinery goals, including its plans to consolidate existing renewable fuel production assets, such as first generation corn ethanol plants.