Range Fuels, Inc. Receives Award for Innovation
at Boulder County Business Report ’s IQ Awards
Cellulosic Ethanol Company Recognized for Innovations in Sustainability
Boulder, Colo. (Aug. 20, 2007) – The Boulder County Business Report (BCBR) announced the 10 most-innovative companies during its eighth annual IQ Awards for innovation on Wednesday, Aug. 15, 2007. Within the sustainable business category, the top honor went to Range Fuels, Inc., based in Broomfield, CO and Palo Alto, CA, a leading cellulosic ethanol company.
Range Fuels was recognized for its work driving cellulosic ethanol innovation which will lead to the first commercial scale production plant in the United States. Range Fuels’ approach differs from other ethanol vendors; their technology allows them to produce more ethanol for a given amount of energy expended than is possible with any other competing process. Range Fuels delivers a highly flexible, efficient, cost effective, and scalable product, by converting all – not just some – of the biomass used.
"This is an exciting time for Range Fuels and the recognition we received from BCBR is an indication that the community is eagerly responding to our innovations.” said Range Fuels’ CEO, Mitch Mandich. “We are pleased to have this support as we strive to introduce the world to renewable, sustainable, and eco-friendly fuels.”
This year, BCBR received more than 75 nominations from companies in the Boulder Valley and selected three finalists in each of 10 business categories. The top-10 innovators included:
- Business –TechStars
- Communications – Aztek Networks Inc.
- Computers –DPHI Inc. dba DataPlay
- Consumer –AeroGrow International Inc.
- Internet – Lijit Networks Inc.
- Medical & Health –Otologics LLC
- Nonprofit Products & Services – Intercambio de Comunidades
- Software –Lingoport Inc.
- Sports & Outdoor – EarthRoamer
- Sustainable Business – Range Fuels Inc.
“For eight consecutive years, we have honored the ‘most-innovative’ in Boulder Valley, recognizing their achievements and contributions to their industries as well as our community,” said Jerry W. Lewis, editor and publisher of the Boulder County Business Report. “The task of selecting only 10 winners from the many nominations received is daunting for our judges. We really feel that this year’s winners represent a great mix of both large and small companies producing some of the most-innovative products and services in the world.” For more information on Boulder County Business Report’s IQ awards, go to www.IQawards.com.
About Range Fuels, Inc.
Range Fuels, Inc., is focused on green energy and the production of cellulosic ethanol. The company does not use food products like corn, but rather uses waste materials and other non food sources and turns them into valuable products. The company's innovative technology uses wood chips, municipal waste, paper pulp, olive pits, and more and converts those materials to ethanol. The company's system, named K2, uses a two step thermo-chemical conversion process. The first step converts the biomass to synthesis gas and the second step converts the gas to ethanol. The company's business model is to design, build, own and operate its plants. The company is privately held and funded by Khosla Ventures, LLC, arguably the top venture firm in the U.S. focusing on alternative, green energy systems. The leadership team melds experience from Silicon Valley's fast-paced, high-tech world, and the technologically intense coal, coal gasification, and gas-to-liquids industries. Range Fuels' vision is to introduce the world to a fuel that's renewable, sustainable, and eco-friendly in its production.