Raptor Technology Group (fka RAPT)

[B7$4]

"RAPT News" Raptor Fabrication and Equipment an Instrumental Sub-Contractor in an Algae-Based Jet Fuel Project
http://www.tradingmarkets.com/news/stock-alert/rapt_raptor-fabrication-and-equipment-an-instrumental-sub-contractor-in-an-algae-based-jet-fuel-project-1497274.html

Posted on: Wed, 16 Feb 2011 16:43:02 EST
Symbols: RAPT
GROVELAND, FL, Feb 16, 2011 (MARKETWIRE via COMTEX) --

Raptor Technology Group, Inc. (OTCBB: RAPT | PowerRating), which is in the process of acquiring Raptor Fabrication & Equipment, Inc. ("Raptor"), is pleased to discuss Raptor's involvement in an advanced algae-based jet fuel project.

Raptor was an instrumental sub-contractor in a project funded by the Defense Advanced Research Projects Agency (DARPA), part of the Department of Defense. The goal of the project was to produce a $3 per gallon cost for algae derived JP-8 jet fuel and develop a scalable process for cost effective and large scale production of algae based fuels.

"This is one of the more challenging projects Raptor has been involved in. From a practical standpoint, the use of algae feedstocks for the production of biofuels must be looked at as a commodity chemical issue," said Dwayne Dundore, PhD, Chief Technology Officer of Raptor. "The key to the use of algae for fuel will be to simplify the processing system to allow for larger scale handling of the algae at all stages of the process. We look forward to working with DARPA and Science Applications International Corp. (SAIC) to achieve their goals," added Dundore.

The project was designed in two phases; the first involved refining the technology and developing lab-scale production capabilities. The second involved the construction of a pre-pilot scale production facility. "In 2006, the U.S. Military spent approximately $6 billion on 71 million barrels of JP-8 jet fuel. The success of this project would greatly reduce that cost as well as reduce dependence on foreign oil supplies," said Tom Gleason, President of Raptor. "Needless to say this is a market we would like to participate in. The cost of jet fuel is a global issue that is rising yearly. Addressing this industry with a viable technology holds promising rewards for Raptor," added Gleason.