|Cool Planet hopes to expand its biomass materials to include beetle kill pine. |
Photo Courtesy of U.S. Department of Agriculture
In addition to relocating its headquarters, the company is also looking to create a manufacturing plant in Aurora. The manufacturing plant is hoped to have the capacity to produce about 10 million gallons per year from organic waste.
The company's move will create new job opportunities for Colorado. Cool Planet applied for tax credits that equate to approximately 400 jobs. Cool Planet has financial backing from Google Ventures, BP, and ConocoPhillips among others.
Wesley Chan, a general partner at Google Ventures said, "Cool Planet is on the cutting edge of advancements in alternative fuels, and this expansion into Colorado brings them one step closer to making their fuel available to anyone who drives a car."
Cool Planet is also expanding their focus to use Colorado's beetle-kill trees as a fuel source. The char remnants from the process would be used to strengthen the forest soil and prevent erosion.
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