On 2008 the group of emulsion expert scientists and engineers of Nano Dispersions Technology started the development of Colloidal Fuels made out Petroleum Coke.
After the successful proof of concept, in 2009 private investors joined Nano Dispersions Technology in order to develop, manufacture and market Colloidal Fuels through Blue Advanced Colloidal Fuels Corp.
An Option Investment Agreement was signed between Blue, Pacific Coal Resources, Alpha Ventures Finance and Nano Dispersions Technology on April 2011. This agreement states that Pacific Coal would provide funding to Blue ACF in exchange of equity participation in the company (1% equity for every 1MMUSD invested). The document also states that Pacific Coal and Blue may negotiate a 50%-50% JV for a plant that will be producing colloidal fuels out of Pacific Coal properties. The investment will be made upon success of B&W combustion tests that will show performance of colloidal fuels made out of asphaltite.
In June 2011, Blue created Blue Research Corp as a subsidiary to be engaged on colloidal fuels research and development. Blue Research Corp facilities, located at Panama technological park The City of Knowledge, consist of a laboratory and a 200 m2 pilot plant. The pilot plant is aimed to test new colloidal fuels formulations, as well as showing its manufacturing process.
Blue has proprietary technology and its products are patented.
