April 8, 2002
DynaMotive to develop BioOil-producing partnerships in Canada and in the US
Vancouver, B.C. – DynaMotive Energy Systems Corporation announced that it plans to establish BioOil producing partnerships in Canada and in the US with biomass producers, operators and investors. The Company currently has one prototype plant and one pilot plant producing BioOil in British Columbia with rated capacities of two and ten tons per day, respectively. DynaMotive is in the process of building a further plant in the UK with a rated capacity of 100 tons per day and is in the final stages of determination with Canadian Forest Products-Canada’s largest lumber producer–for a 200 tpd plant in British Columbia.
DynaMotive’s patented technology converts bio mass (organic residues such as wood and sugar cane bagasse) into BioOil, char and non condensable gases with zero waste. By virtue of being derived from bio mass, BioOil is an alternative to fossil fuel; it is renewable and green house gas neutral.
DynaMotive’s patented technology would enable bio mass residues to be established as above ground proven reserves of BioOil. Prospecting, exploration, production and depletion risk are not a factor as the reserves of bio mass waste are known and renewable. DynaMotive believes that BioOil production partnerships would allow for rapid deployment of its technology.
“DynaMotive’s commercialisation program is based on the petroleum industry and when combined with strong partnerships provides DynaMotive with a powerful tool to develop the market and achieve critical mass in a short period of time. Bio mass producers would in essence be the equivalent of
mineral right owners who would provide bio mass to the partnership for conversion; DynaMotive would license its technology to the partnerships and the partnerships would own and operate the plants”, said Andrew Kingston President and CEO of DynaMotive.
DynaMotive estimates that within five years export into Europe could exceed 10,000 tons a day of BioOil. The Company has in its books 70 Mwe of renewable energy production contracts with the UK Government that would require 2,000 tons of BioOil per day over a 15 year period. The Company expects demand for BioOil to increase with immediate interest in the Netherlands and in Belgium. The Company also expects to develop export opportunities to Japan.
DynaMotive is an energy systems company that is focused on the development of innovative energy solutions based on its patented pyrolysis system. Through the application of its technology and know how, the Company intends to tap into abundant organic resources that are generally discarded by the agricultural and forest industries at a cost, and economically convert them into a renewable and environmentally friendly fuel. Examples include forestry residues such as wood and bark and agricultural residues such as sugar cane bagasse. The Company has successfully converted each of these residues into BioOil and char making them a renewable and environmentally friendly oil and char reserve that is available worldwide.