We first featured Carbon Sciences, Inc. (OTCBB: CABN) in early June after the Company announced on 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. Shares were up nearly 70 percent that day.
Shares of Carbon Sciences were up again today — trading roughly 37 percent higher than Monday’s closing price, in morning trading on Tuesday.
The company announced the successful synthesis of a proprietary raw catalyst, an essential step toward demonstrating commercial feasibility of Carbon Sciences’ GTL technology.
“A fully active and stable catalyst will be the key to our success,” said Dr. Naveed Aslam, inventor of the technology. “Synthesizing our proprietary raw catalyst is a vital step in a multi-stage catalyst synthesis and activation process,” he added.
GTL is a complimentary refinery processes that converts natural gas and other gaseous hydrocarbons into longer chain hydrocarbons such as gasoline. Carbon Sciences has estimated that they can produce 138 billion gallons of gasoline a year (the annual amount used in the U.S.) with 23 trillion cubic feet of natural gas and 586 million tons of CO2 without using crude oil or competing with current natural gas consumption.
“The production of this catalyst is the actual laboratory scale implementation of the catalyst formulation and its synthesis process disclosed in the patent,” said Byron Elton, CEO of Carbon Sciences, Inc. in a statement. “It is a major step forward for us.”