Alliance BioEnergy + Inc (OTCMKTS:ALLM) has recently announced the completion of its commercial scale CTS demonstration plant. The plant will also serve the purpose of a research laboratory for the company’s subsidiary “Central Florida Institute of Science and Technology”. The facility will be headed by CTS inventor, Dr. Richard Blair and would immediately concentrate on the development of a commercial CTS line.
The completion and optimization of the new plant is a huge milestone for the company. It can now begin commercializing the plant for further business. Alliance BioEnergy already has a number of MoU’s and sub-licensees, which it intends to now cash in on. The research labs would work to find alternative paths for the production of CTS. Additionally, the company intends to use the laboratories for quality control of products developed by its sub-licensees.
The institute’s director of analytics, Dr. Peter Cohen, stated that his institute had more analytical capabilities than any other university in the State. This also gives their institute the ability to process a wide variety of materials. Currently, the Institute holds patented rights to the CTS technology.
ALLM had initially started off with a focus on entertainment, however, that soon changed given the competition in the industry. Since then the company has solely concentrated on renewable energy and technologies. ALLM’s 1Q2015 was released recently, which discouraged the investors into losing their trust in the company. There has been no revenue in the quarter, but that could soon turnaround in the next quarter, given the company’s new plant. The company just has $180,000 in cash and a net loss of $358,000.
Another big problem that the company has been facing is the lack of proper leadership. There has been significant amount of turmoil in the company management, with two CEO changes in the 1Q2015. Additionally, two of the board’s directors also left with the last CEO, David Mathews.
Alliance BioEnergy + Inc (OTCMKTS:ALLM) closed at $0.95, after losing 5% on May 19. The company has 37.72 million shares being traded in the market, with a 52-week range of $0.07-$1.67.