Biorefining Signs Licensing Deal
Washington Business Journal:
Biorefining Inc., a firm that has developed technology to tackle the food-vs.-fuel dilemma facing the ethanol industry, has inked its first licensing deal, forming a joint venture with a North Dakota engineering and construction firm.
The Golden Valley company has developed a “biomilling” process that allows ethanol producers to separate the portions of corn with food value from the parts that are used to make fuel. Biorefining has licensed the technology to KLJ Solutions Co., an engineering firm based in Bismarck, N.D., in exchange for a 50 percent stake in a yet-to-be-named joint venture. KLJ has agreed to share future profits with Biorefining as part of the deal.
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