Anellotech, co-founded by Dr. George Huber, is commercializing the upgrading of stabilized bio‐oils to produce low cost renewable liquid fuels.  The company's catalytic fast pyrolysis process or "CFP™", is based upon technology licensed from the University of Massachusetts, which converts upgraded and hydrotreated bio‐oils into liquid hydrocarbon fuels at a lower cost than petroleum‐derived fuels.  Anellotech’s technology is a one‐step process that will yield higher value products that are compatible with current fuel and chemical product distribution systems.  Anellotech plans to build its first biorefinery, license its technology, and supply proprietary catalysts to licensees. Its first small‐scale production plant is expected to be online in 2014.