Blue Biofuels Reports Zero Revenue and Increased Losses in Q2 2025

Blue Biofuels, Inc. reported its financial results for the second quarter of 2025, revealing a continued lack of revenue generation, with total revenues remaining at $0 for both the three and six months ended June 30, 2025, consistent with the same periods in 2024. The company incurred a net loss of $920,752 for the quarter, compared to a loss of $548,823 in the prior year, reflecting an increase in operating expenses primarily driven by higher general and administrative costs and research and development expenditures. Total operating expenses for the second quarter reached $902,604, up from $541,144 in 2024, largely due to a significant rise in equity-based compensation.

In terms of financial position, Blue Biofuels reported total assets of $1,448,261 as of June 30, 2025, a slight increase from $1,389,587 at the end of 2024. However, the company’s liabilities also rose, totaling $4,620,330, up from $4,235,490, primarily due to increased deferred wages and additional debt. The stockholders' deficit widened to $3,172,069 from $2,845,903, indicating ongoing financial challenges. The company had cash and cash equivalents of $8,026, a significant decrease from $48,797 at the end of the previous fiscal year.

Operationally, Blue Biofuels has made strides in its technology development, particularly with its patented Cellulose-to-Sugar (CTS) process, which is designed to convert cellulosic materials into biofuels. The company has also received a $1.15 million grant from the U.S. Department of Energy to support the commercialization of this technology. Despite these advancements, the company has not yet generated significant revenue and continues to rely on external financing to support its operations. The total cash used in operating activities for the first half of 2025 was $298,723, a decrease from $543,377 in the same period of 2024, attributed to the utilization of grant funds.

Looking ahead, Blue Biofuels faces substantial uncertainty regarding its ability to continue as a going concern, as it has incurred cumulative losses of $58,420,346 since inception. The company is actively seeking additional financing to meet its operational needs and to fund the commercialization of its CTS technology. Management has indicated that the future success of the company hinges on its ability to generate revenue and secure necessary funding, with no assurances that it will be able to do so. The company plans to explore project financing for its ethanol-to-sustainable aviation fuel facility and aims to expand its operations once it achieves profitability.