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Aussie
Any post about real Green Energy/technology Companies and their contributions to the world or their environments locally would be appreciated.
Aussie
FASC 21st Century Biomass Dryer and BioFuel Preparation | Ethanol Preprocessing
http://fasc.net
FASC's patented grinder-dryer KDS Micronex is an all-in-one solution which efficiently and economically processes a wide variety of raw materials and wastes into fine, dry powders which can be used for the manufacturing of ethanol, other "green fuel" or pathogen free fertilizer.
FASC's clients benefit by simplifying on-site grinding and drying operations into a single compact, and easy-to-operate system while creating high-quality, dry, virtually pathogen-free powders that have value as industrial feed stocks, fuels, fertilizers and animal feeds.
Authorized shares: 200,000,000
Outstanding shares: 199,952,195
Restricted shares: 12,383,240
Float: 187,568,955
The numbers above are as of November 17 2008, per Pacific Stock Transfer.
Company Officers Information from latest 10-K:
John Brian Nichols, 71 • President, Chief Executive Officer and member of the Board of Directors • Shares Owned: 7,936,500
Cal Kantonen, 58 • Treasurer, Chief Financial Officer and Chairman of the Board of Directors • Shares Owned: 9,805,600
David Gibson, 67 • Secretary and member of the Board of Directors • Shares Owned: 450,000
Latest Quarterly Filing (10-Q): 11/14/08
Latest Annual Filing (10-K/A-1): 11/04/08
Recent Company Income Statements
Recent Company Balance Sheets
Recent Company Cash Flow Statements
Recent Company Press Releases
THE START OF REVENUES
KOREA
http://www.fasc.net/news-view.php?nrid=47
Wednesday July 9, 9:00 am ET
FASC is pleased to announce the sale of a Model S-4 KDS machine to be used for processing and extracting high grade calcium from oyster shells gathered off the southern coast of South Korea. According to Mr. Nichols, "our clients have been working with us on this project diligently for over 2 years, and now report that they have secured the necessary project financing to complete the processing plant. Funding will be in place by the end of July 2008 and the plant is expected to be operational by the end of October 2008. Our alliance with our Korean colleagues is finally beginning to pay off. This will be the third KDS system to be installed in Korea, and the first of several for this application."
The Korean group is also in the final planning phase of a full scale municipal waste processing site. Please see our new web-site for further details. www.fasc.net
NORWAY/LATVIA
http://www.fasc.net/news-view.php?nrid=45
Monday June 23, 9:20 am ET
Brian Nichols, President of First American Scientific Corp. (FASC) is pleased to announce that we have received an order to deliver the first of 4 KDS systems to Baltica Invest AS of Norway which will be used to a dryer/grinder of sea-bed algae found in remote regions of Northern Europe. Baltica and its partners operate several dredging and reclamation sites where water bound algae is being developed into a high nutrient fertilizer. The first system will be installed at its Latvian operation.
According to Brian Nichols, "testing has proven that our equipment can handle the job for Baltica and its partners. In addition, on completion of the initial 4 purchases, Baltica will earn the right to be our sole distributor in Norway and will expand the KDS marketing efforts to biomass and green energy applications in Scandinavia."
CALIFORNIA BIOMASS WASTE FACILITY
http://sec.gov/Archives/edgar/data/1002822/000100201408000427/fasc10q33108.htm
May 19, 2008
This quarter we delivered one model S-8 machine to a biomass processing facility in California where it has been commissioned and is now being evaluated as a combination dryer /grinder of waste biomass for use in the green energy sector.
QUEBEC, CANADA
http://www.fasc.net/news-view.php?nrid=43
Jan 07, 2008
The first system was delivered to a group in Quebec, Canada for pulverizing construction waste.
NUTRITECH SOLUTIONS LTD.
http://www.fasc.net/news-view.php?nrid=3
October 2, 2006
First American Scientific Corp. Announces Sale of KDS Micronex Equipment to Nutritech Solutions Ltd. (NTS)
Nutritech Solutions, headquartered in Abbotsford, British Columbia, Canada, designs, manufactures and distributes quality feed supplements to the dairy industry.
MINNESOTA VALLEY ALFALFA PRODUCERS SALE
http://www.fasc.net/news-view.php?nrid=5
April 28, 2006
First American Scientific Corp Receives Purchase Order From Minnesota Valley Alfalfa Producers for Two KDS Micronex Machines
http://www.granitefallsnews.com/articles/2007/11/04/news/news01.prt
GRANITE FALLS ADVOCATE TRIBUNE
November 1, 2007
Minnesota Valley Alfalfa Producer (MnVAP) General Manager, Duane Hultgren (far right), shows a group of senators including Steve Dille, R-Dassel, (left) and Gary Kubly, DFL-Granite Falls, (left of Hultgren), DNR representatives, and members of the press, a Kinetic Disintegration System (KDS) that will be used in alfalfa and bio-mass pelletization. The KDS had previously been used to pulverize ores and minerals. Employed for pelletization, it has the potential to be much more energy efficient than current machinery in use.
http://www.auri.org/news/ainapr08/power_renewal.htm
AG INNOVATION NEWS
Apr - June 2008 (Vol. 17, No. 2)
MnVAP will work with AURI and Canadian equipment manufacturer First American Scientific Corporation to test a biomass pulverizing method known as a kinetic disintegration system or KDS.
SOUTH KOREAN SALE-JNK HEATERS
http://www.marketwire.com/press-release/First-American-Scientific-Corporation-674128.html
February 2, 2006
First American Scientific Corp. (OTCBB:FASC) is pleased to announce that our exclusive Korean licensee, JNK Heaters Co., Ltd. of Seoul, Korea, has purchased its first KDS System to be set up to demonstrate the system's capabilities to Korean customers.
JAPAN SALE
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-25-2005/0004194272
October 25, 2005
The first step will be to install a fully operational KDS processing facility in Yokohama to be used for sales demonstrations and research purposes. One KDS model JS-6 has been sold to the alliance and is now being constructed to Japanese standards. This first plant is expected to be fully operational by early 2006.
AGES-FLAKEBOARD
http://www.globeinvestor.com/servlet/ArticleNews/story/CNW/20050705/1307058557
July 5, 2005
First American Scientific Corp announces funding agreement for project to install new KDS3000 system at Flakeboard Company Limited in Canada.
SOUTH KOREAN SALE-DAEYUN ENTERPRISE LTD.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/03-23-2005/0003243245
March 23, 2005
Brian Nichols, President of First American Scientific Corp. (FASC) is pleased to announce the sale of its second KDS Micronex System into the Asian market. Daeyun Enterprise Ltd. of South Korea has purchased the KDS equipment which will be used as part of their process in the production of natural calcium from oyster shells.
UNITED KINGDOM-WRAP
http://sec.gov/Archives/edgar/data/1002822/000100201406000729/fasc10k2006.htm
In September 2004, we signed an agreement wherein WRAP has agreed to provide funding to develop "value enhanced end-products" from the output of the KDS machine. WRAP has agreed to provide $1,000,000 USD for the purchase and installation of one complete KDS system to be located at an industrial site in England. The fund will also pay for market research, scientific research, re-design and adaptation costs for the equipment and supplementary systems for industry-specific applications. All funds have been received and expended under the administration of WRAP. WRAP is a department of the government of the United Kingdom.
MALAYSIA
http://sec.gov/Archives/edgar/data/1002822/000100201404000534/fascf10ksb2004.htm
On July 8, 2004, the Company entered into a joint venture agreement with two Malaysian companies, to sell and market the KDS Micronex Machine. Under the terms of the agreement, the joint venture ordered one KDS Micronex Machine from FASC at a cost of $140,000 and set up a demonstration plant in Malaysia for the KDS System utilizing the KDS Micronex Machine acquired from the Company. At September 9, 2004, this KDS machine has been sold, shipped and paid for.
POLAND-FIRMA CODOGNI
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/10-08-2004/0002268977
April 29, 2004
First American Scientific Corp (FASC:OTCBB) announces sale of KDS Micronex equipment to Firma Codogni in Poland.
UNITED STATES-ATLAS MINING
http://www.advfn.com/news_First-American-Scientific-Corp-_6879555.html
February 23, 2004
First American Scientific Corp (FASC – OTCBB) announces sale of KDS Micronex equipment to Atlas Mining Company (ALMI – OTCBB)
JOINT VENTURE AND LICENSING AGREEMENTS
MALAYSIA - FASCM JOINT VENTURE & LICENSE AGREEMENT
http://www.advfn.com/news_First-American-Scientific-Corp_7852428.html
June 7, 2004
First American Scientific Corp. finalizes joint venture agreement for the sale of KDS equipment in Malaysia
C.L. Kantonen, Chairman of First American Scientific Corp., is pleased to announce that the Company has reached an agreement with Ulimec Sdn. Bhd. to establish a joint venture company (First American Scientific Corp. [Malaysia] Sdn. Bhd.) to operate a KDS palm waste processing plant in Kluang, Malaysia and to market the KDS equipment to the palm oil industry.
In addition to earning royalties for all KDS equipment sold in Malaysia, FASC will share equally in the operating profits of the joint venture and retain a 50 % ownership in FASC (Malaysia) Sdn. Bhd.
Ulimec and its affiliate, Sawipac Sdn. Bhd., are major suppliers of equipment and expertise to the palm industry in Malaysia and to other countries in Southeast Asia.
10-Q UPDATE: An order for two machines has been received with expected delivery in the second or third quarter.
http://www.sawipac.com (Website best viewed with Internet Explorer.)
© 2002-2008 Sawipac Sdn Bhd
A major breakthrough in the Palm Oil Industry, is the effective disintegration of empty fruit bunch (EFB) into as small as 1 mm fibre particles and drying to a moisture content of below 10 %.
JAPAN - JP STEEL PLANTECH CO. LICENSE AGREEMENT
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-25-2005/0004194272
October 25, 2005
First American Scientific Corp (FASC – OTCBB) announces signing of exclusive agreement to license KDS technology in Japan
Vancouver, BC: Brian Nichols, President of First American Scientific Corp. (FASC) is pleased to announce the signing of an exclusive license agreement for manufacturing and marketing the KDS System in Japan with JP Steel Plantech Co.(SPCO) of Yokohama, Japan.
JP Steel Plantech Co. is a well established engineering company formed in 2001 by four Japanese steel industry giants ; Kawasaki Heavy Industries (KHI), Hitachi Zosen (Hitz), JFE Engineering (JFE) and Sumitomo Heavy Industries (SHI). The alliance was created by consolidating the resources of these four major Japanese integrated iron and steel plant equipment manufacturers to lead the world in production technology and product quality. Their corporate mission is to contribute to the development of the world’s steel industries, as well as the protection of the global environment. As the exclusive KDS licensee in Japan, they will marshall world-class iron and steel engineering resources and state-of-the art environmental technologies to ensure the successful launch of our marketing efforts in Japan.
10-Q UPDATE: Marketing efforts are now underway, and one sale is booked with another pending.
http://hp.rhp.jp/~steelplantec/kaisyagaiyou.html
Copyright(C) 2008 JP Steel Plantech Co.
Translation - "It pulverizes processes the scrap wood, it succeeds in fuel conversion by the fact that it starts squeezing the moisture inside the material"
SODIF S.A. de C.V. - LICENSEE (MEXICO)
http://sec.gov/Archives/edgar/data/1002822/000100201408000132/fasc10qfor12-312007.htm
10-Q UPDATE: In June we signed an exclusive marketing agreement with a group in Mexico. One condition was that they purchase a demonstration machine (at wholesale price) and adapt it to the local market and conditions. The machine has been delivered and is operational. The initial runs have all been successful, and the customer is now developing a unique food product which it advises it will launch later this calendar year. The balance of the payment of $47,500 is due in November 2008.
EASTERN USA LICENSE AGREEMENT
http://sec.gov/Archives/edgar/data/1002822/000100201408001022/fasc10q93008.htm
In October 2008, the Company signed two new License agreements granting Marketing rights to the KDS technology in the Eastern USA and in Korea.
KOREA
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-12-2006/0004247821
January 12, 2006
First American Scientific Corp. (FASC) is pleased to announce the signing of an exclusive license agreement to market the KDS Micronex in Korea with JNK Heaters Co., Ltd. of Seoul, Korea.
Operating under the name "JNK- FASC Co., Ltd", JNK has organized an experienced marketing team and will purchase and setup a fully operational KDS processing facility in South Korea to showcase our technology. The purchase of this license confirms their confidence in our technology and need for the KDS System in Korea's energy and waste management sectors. As a term of the license, JNK has paid an up front licensing fee, has committed to purchase 20 KDS machines over 5 years, and will pay royalties to FASC on each KDS machine sold in Korea.
10-Q UPDATE: The license agreement with JNK Heaters Co. Ltd. was cancelled in April 2008 due to non-performance. We have completed negotiations with a new group who are now performing their due diligence. The agreements are expected to be formalized next quarter.
BRAZIL
http://www.marketwire.com/press-release/First-American-Scientific-Corporation-676607.html
April 18, 2006
Brian Nichols, President of First American Scientific Corp. (OTC BB: FASC) is pleased to announce the signing of an agreement in principle to form a joint venture to be named First American Scientific Brazil Ltda., with South American Bio-Energy Corp Ltd of Uruguay and Bruno Industrial Ltda of Brazil www.bruno.com.br for the manufacture, marketing, and operation of KDS equipment in Brazil, Uruguay and Argentina.
The first installation of a fully operational KDS system is planned to commence operation in September 2006 as part of a new $US 50 million sugar refinery and ethanol plant in Sao Paulo state. The KDS will process diverted waste bagasse to a pelletizer and bagging house to create "bagasse pellets" which will be burned in conventional pellet burners to create green energy. The initial target will be to deliver 300,000 tonnes of pellets in the local region, then to look beyond the borders of South America to Europe where an order for 1,000,000 tonnes of pellets is anticipated.
10-K UPDATE: On April 18, 2006, the Company announced the signing of an Agreement in Principle to form a joint venture to be named First American Scientific Brazil Ltda. These negotiations will not be finalized until the test machine sent to Brazil is fully operational and evaluated. The machine has been delivered, and subject to local permitting, is expected to be operational this calendar year.
RUSSIA
http://sec.gov/Archives/edgar/data/1002822/000100201408001022/fasc10q93008.htm
In November 2008, the Company signed a conditional Letter of Intent granting Marketing rights to the KDS technology for Russia.
PATENTS ISSUED AND PENDING
Device and Method for Comminution - US Patent #6,024,307 and Canadian patent # 2,218,429
A patent was issued for the KDS as for a "device for comminution" on November 24, 1998, and its U.S. patent number is 6,024,307 with additional patent applications filed in Australia, Canada, Europe (EEC), Finland, France, Germany, Ireland, Italy, Mexico, New Zealand, Spain, Sweden, Switzerland, and the United Kingdom.
Cryogenic Comminution of Rubber - US Patent # 6,655,167 B2
On April 20, 2001, the Company filed a patent application in the United States to protect its research into developing a process for cryogenically freezing non-tire scrap rubber and processing in into a micro-fine powder using the KDS equipment. This patent has now been issued.
Method of Recovery of Precious Metal and Heavy Minerals - US Patent # 6,682,005 B2
On May 4, 2001, the Company filed a patent application in the United States to protect its research into developing a process for disintegrating and separating precious metal from hard rock without the use of chemicals. This patent has now been issued.
Method and apparatus for Recovery of Fuel and Clay from Biomass - (pending)
In November 2002, the Company filed a provisional patent application in the United States to protect its research for the processing wet biomass through the KDS equipment. Some of the subject matter in the application is approved and a new patent is pending.
RESEARCH AND DEVELOPMENT OF THE KDS MICRONEX
U.S. DOE/USDA BIOMASS INITIATIVE GRANT
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-26-2004/0002217870
July 26, 2004
First American Scientific Corp. selected to participate with the University of Tennessee in USDA Biomass Research Initiative
First American Scientific Corp. (FASC.OB) announced today that the United States Department of Agriculture has awarded a grant of $717,399 USD for research to be conducted by the University of Tennessee, Oakridge National Research Laboratory and First American Scientific Corp.
UNIVERSITY OF TENNESSEE/OAK RIDGE NATIONAL LABORATORY/FASC SLIDE PRESENTATIONS
http://feedstockreview.ornl.gov/pdf/womac/session3_womac.pdf
http://sungrant.tennessee.edu/NR/rdonlyres/0CB12194-1E2E-4F11-9866-DBC2F2588179/0/womacbb.pdf
http://sungrant.tennessee.edu/NR/rdonlyres/71F7927A-2318-4854-89D6-A4618E8E0B15/0/yebb.pdf
UNIVERSITY OF TENNESSEE WEBSITE FOR FASC PROJECT
http://bioprocessing.ag.utk.edu/index.htm
XCEL ENERGY RENEWABLE DEVELOPMENT FUND - THIRD FUNDING CYCLE EVALUATION AND SELECTION REPORT
http://192.234.136.46/docs/07-0675RDF3rdcyclefunding120607.pdf
Dec. 6, 2007
Xcel Energy announces renewable energy project selections
Minnesota Valley Alfalfa Producers, Raymond, Minn., to research the application of a new, energy-efficient technology to process a variety of biomass feedstock to expand the resource options for biomass energy production, $1 million.
Proposal: Researching the Use of KDS (Kinetic Disintegration System) to Process Various Feedstocks for Biomass Pelletization Use
The project research centers on designing and fabricating changes in machinery originally used for pulverizing ores and minerals to process and pelletize various feedstocks for renewable energy applications. The resulting pellet products will be used for energy production by co-firing with coal, in combined heat and power (CHP) applications, for gasification, and/or used in biofuel production. Examples of feedstocks that will be explored include sweet corn silage, distiller’s grain, sorghum and millet, municipal byproducts (trees, grass clippings) paper sludge, and switchgrass.
FIRST NEXGEN GRANT RECIPIENTS ANNOUNCED
http://www.house.leg.state.mn.us/members/pressreleasels85.asp?district=13B&pressid=3850&party=1&memid=10300
November 7, 2008
State Representative Al Juhnke joined Governor Pawlenty today in announcing the first round of recipients of the NexGen grants for bioenergy projects. Eleven proposals out of 28 submissions were approved by the NexGen Renewable Energy Board, which was created during the last legislative session and is co-chaired by Rep. Juhnke.
The Minnesota Valley Alfalfa Producers (MNVAP) in Priam, an existing agricultural cooperative involved in the feed product pelleting industry, was awarded $400,000 to help pay for the installation of new feedstock drying equipment. This equipment will allow the coop to handle higher moisture feedstocks at a lower cost and significantly reduce the use of fossil fuel in the production system.
“The development of less expensive biomass pellet production will be critical in moving this market forward,” said Juhnke. “We chose this proposal for funding in part because of the opportunity to build upon an established company with existing capacities and infrastructure.”
http://www.granitefallsnews.com/articles/2007/11/04/news/news01.prt
GRANITE FALLS ADVOCATE TRIBUNE
Heading toward energy independence, pellet by pellet
November 1, 2007
We know that the bio-mass industry is set to explode, we want to be a part of that,” stated MnVAP General Manager Duane Hultgren.
MnVAP has believed to have acquired a breakthrough in pelletization production through their purchase of a prototype Kinetic Disintegration System (KDS).
According to a MnVAP executive summary, the KDS technology was originally created for use in pulverizing ores and minerals.
Representatives of MnVAP traveled to Ontario, Canada to see the KDS in action and discovered that it was substantially superior to their existing machinery. Whereas the old infrastructure required separate operations for both the drying and compacting of material such as alfalfa, the KDS machine was able to dry and compress at once.
Hultgren stated that the KDS is much more efficient in that no natural gas is required to dry the material, it captures all dust, and there is a 20% reduction in electricity per ton. For perspective, MnVAP currently produces 40,000 tons of pelletized product per year.
With the KDS machine's obvious potential, the MnVAP co-op invited a number of politicians, DNR representatives, and members of the press to view the operation this past Friday so that MnVAP could state a case for assistance.
In all, seven senators with their respective entourage, from regions urban, which included Energy and Community Development Chair, Senator Ellen Anderson (DFL-St.Paul), and regions rural, including, Energy Subdivision Chair Senator Gary Kubly (DFL-Granite Falls)
http://www.auri.org/news/ainapr08/power_renewal.htm
AG INNOVATION NEWS
Power Renewal
A Minnesota cooperative returns its founding vision of biomass energy
Apr - June 2008 (Vol. 17, No. 2)
Minnesota Valley Alfalfa Producers started plans to generate electricity from alfalfa stems 14 years ago. But after investing six years of effort and millions of dollars, the farmer-owned cooperative was forced to pull the plug on the project when its partners dropped out.
Despite its rocky start, MnVAP went on to became one of the nation’s largest alfalfa pellet mills, says Montevideo farmer Keith Poier, MnVAP chair. And now — as Minnesota pursues ambitious renewable-energy goals — MnVAP has returned to its founding vision of biomass power. The cooperative wants to supply biomass fuel pellets to Minnesota’s growing renewable-energy sector.
Late last year, the cooperative received a $1 million renewable-energy grant from the Xcel Energy Renewable Development Fund. MnVAP will use the grant money to test a new technology for grinding and drying high moisture agricultural fibers, such as wood, native grasses and crop residues.
MnVAP will work with AURI and Canadian equipment manufacturer First American Scientific Corporation to test a biomass pulverizing method known as a kinetic disintegration system or KDS. KDS was originally developed for the mining industry, Poier says. Now it’s being used by other industries that need to grind and dry materials before condensing them into pellets.
PRINCE GEORGE, B.C. WASTEWATER TREATMENT
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/10-31-2005/0004203728
October 31, 2005
First American Scientific Corp (FASC - OTCBB) signs agreement with the City of Prince George to install KDS Micronex equipment for processing sewage sludge at their wastewater treatment facility
Brian Nichols, President of First American Scientific Corp. (FASC) announced today the signing of an MOU with the city of Prince George, BC, Canada to assist in solving its environmental cleanup problems with sewage sludge using the KDS Micronex system. "This will be the first operation of its kind in the world, says David Dungate, FASC's VP of marketing, where the strictly regulated Class B municipal sludge can now be cleaned, bagged and profitably sold to the public as a soil amendment." The initial runs will be monitored for three months, and if satisfactory, the city plans to establish a permanent facility utilizing up to 4 micronizers.
According to Dayton & Knight, the city's consulting engineers, "the series of tests undertaken this summer 2005 at FASC's Vancouver demonstration site confirmed the ability of the KDS Micronex to consistently convert Class "B" biosolids to Class "A" biosolids and achieved an effective pathogen destruction rate of 99.9 % in all test samples"
FASC believes the KDS Micronex could become the preferred universal solution for handling Class B sludge by converting municipal waste into a valuable resource. With the successful showcase of our system's ability in Prince George, Canada, we could see our system in use all across the developing world.
There are approximately 15,000 municipal wastewater treatment plants in North America alone that process almost 34 billion gallons of domestic sewage and other wastewater each day. In Asia and Europe the markets are even larger, and FASC is well poised to service those markets through its established network of licensees and affiliates in the U.K., Poland, the USA, Canada, Malaysia, and Japan.
PILOT TESTING OF THE MICRONEX™ SYSTEM TO PRODUCE A CLASS A BIOSOLIDS
http://www.bcwwa.org/annual_conference/documents/24.02MICRONEX-John.pdf
April, 2007 - British Columbia Water & Waste Association Annual Conference, Penticton, British Columbia
http://www.bvsde.paho.org/bvsaar/cdlodos/pdf/pilottesting335.pdf
June, 2007 - International Water Association Conference, Moncton, New Brunswick
10-K/A UPDATE: To date all trial runs have been satisfactory and many adjustments have been made to accommodate the efficient processing of the sewage sludge. The project is now entering Phase 2 to redesign and modify the equipment to improve its drying capabilities. The improved design modifications have been made and testing is expected to start next quarter.
WRAP PROJECT EXPLORES NEW RECYCLING SOLUTIONS AND MARKETS FOR PAPER MILL SLUDGE
http://www.wrap.org.uk/wrap_corporate/news/wrap_project.html
March 31, 2005
A project to develop the opportunities for recycling paper mill sludge into new products is being funded by WRAP (the Waste & Resources Action Programme). Employing innovative technology from Canada, the overall aim of the project is to derive economic benefit from the waste by processing it into usable materials and reducing the amount that is landfilled.
The project, allocated significant funding by WRAP, will use the capabilities of the new KDS Micronex sludge processing plant developed by First American Scientific Corporation (FASC). Sited at Aylesford Newsprint in Kent, the demonstration plant is the first of its kind in Europe.
A NEW APPROACH TO PAPER MILL SLUDGE (FINAL REPORT)
http://www.wrap.org.uk/document.rm?id=3674
April, 2007 - Aylesford Newsprint, Kent, United Kingdom
As part of its programme to encourage the economic use of recycled fibre, WRAP identified a novel process in Canada – the KDS Micronex, which uses relatively low energy input to treat paper mill sludge through centrifugal action to produce a commercially dry material which can be separated through vibrating screening into a fibre fraction and a filler fraction.
10-K/A UPDATE: In December 2004, a KDS Model S-4 was shipped to Aylesford Newsprint in London, England for trial runs and evaluation. The testing is now complete and a final report was issued in April 2007.
The KDS machine has been relocated to a new mill in Northern England where it awaits new funding to continue the research.
ALTERNATIVE GREEN ENERGY SYSTEMS ("AGES")
http://www.ages-biomass.com/news_2001_11_15.htm (This domain is now inactive.)
November 15, 2001
FIRST AMERICAN SCIENTIFIC CORP and THERMIX COMBUSTION SYSTEMS INC incorporate joint venture corporation "AGES" to develop and market combined KDS Disintegration and Burning System for converting hog fuel and pulp & paper sludge into BTUs.
HYDRO QUEBEC CAPITECH
http://www.ewire.com/display.cfm/Wire_ID/1003
March 1, 2002
FIRST AMERICAN SCIENTIFIC CORP and THERMIX announce that Hydro-Quebec Capitech Inc, the investment capital division of energy giant Hydro Quebec, one of the worlds largest hydro-electric power producers, has joined Alternative Green Energy Systems Inc (AGES) as an equity partner with an initial investment of $1,000,000 to assist in research & development, marketing and operations.
SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA AND THE KDS 3000
http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20041029&archive=cnw&slug=1210296203
October 28, 2004
First American Scientific Corp. (FASC – OTCBB) and AGES announces SDTC grant approval for KDS 3000 construction and installation.
10-Q UPDATE: This license was cancelled in September 2008 for non-performance. We repossessed the test machine in AGES possession and returned it to our shop for evaluation and reconditioning. The cost of its recovery was approximately $16,000 which has been recorded as used equipment inventory. Once reconditioned, it will be offered for sale.
MBI, SunEthanol to scale-up fermentation method
http://www.biomassmagazine.com/article.jsp?article_id=1983
By Anna Austin
Web exclusive posted August 29, 2008 at 12:32 p.m. CST
In response to the increasing market demand for cellulosic biofuels, SunEthanol Inc. has formed a partnership with MBI International to scale-up a fermentation method that will utilize SunEthanol’s Q-Microbe which effectively digests and ferments cellulosic feedstocks to ethanol in a single-step process.
Dr. Sarad Parekh, vice president of research and development at SunEthanol, said the company was impressed by MBI’s multidisciplinary expertise, rigorous and disciplined scale-up approach, and specialized on-site pilot-plant facilities. MBI has 25 years of experience in fermentation technologies and process scale-ups, and has frequently partnered with universities and end-user companies to pull early innovations toward commercialization.
Bobby Bringi, president and chief executive officer of MBI, said his company minimizes risk by demonstrating commercial viability at meaningful pilot-scale. He expects MBI to bring several assets to the table in this partnership. “One of them is expertise relating to fermentation and scale-up processes,” he said. “We’ve been doing it for a long time. Secondly, we also have the bench and pilot-scale fermentation infrastructure in our facility.” Bringi added that a third element MBI possesses is a unique expertise in biomass processing and pretreatment.
Currently, MBI is actively working to scale-up AFEX, an ammonia fiber expansion biomass pretreatment technology developed at Michigan State University. “That is something that we can combine with our traditional fermentation process,” Bringi said. “So we believe it’s kind of a unique combination. And since the whole idea is to use biomass-based feedstocks as the substrate for the fermentation process, this is what MBI will bring to the table—the expertise and infrastructure to collaborate with companies to de-risk new technologies.”
Bringi said MBI has a great deal of experience that will be brought into the partnership. “One example of a successful process that we’ve helped to scale-up and de-risk is the polylactic acid (PLA) process that we developed with Cargill Inc.,” Bringi said. “This was some years ago, but it is an example of an important part of our track-record.” The PLA biodegradable plastics technology is now broadly in use around the world in both fibers used in clothing and carpets, as well as in plastic for food containers, garbage bags and car parts.
“MBI’s mission is to accelerate bio-based technologies from early stage to practical application,” Bringi concluded.
U.S. Farm Bill to Aid Cellulosic Ethanol Production
http://www.thebioenergysite.com/news/704/us-farm-bill-to-aid-cellulosic-ethanol-production
Washington, D.C. - The US recently passed a farm bill that includes US $1 billion in funds for renewable energy programs and new feedstock production for bioenergy, reports Renewable Energy World.
The bill reauthorizes several programs, including the 2002 Farm Bill's energy title. Programs include grants and loan guarantees for rural communities and farmers to install renewable energy and energy efficiency systems, feedstock diversification and production and biomass research and development.
The farm bill is expected to help pave the way for companies like BlueFire Ethanol that are working to increase U.S. biofuels production through its patented, commercially viable and profitable system that transforms cellulosic waste into ethanol.
BlueFire Ethanol is one of six ethanol companies awarded funding from the U.S. Department of Energy for its planned ethanol production facility using cellulosic wastes diverted from landfills in Southern California. The facility will produce approximately 17 million gallons of cellulosic ethanol per year from green waste, wood waste and other cellulosic urban wastes.
"Gulf Ethanol to Host Fortune 100 Energy Company"
Here's the link, try finding any mention of FASC.
http://www.marketwatch.com/news/story/gulf-ethanol-host-fortune-100/story.aspx?guid=%7BB5E3D499-FB31-4039-82BF-7D8C617639C7%7D&dist=hppr
You won't, as it's only for real Energy Companies which FASC can't compete with.
Of course...
IMO.
Aussie
Maybe your computer is faulty
http://www.fasc.net/cellulosic-ethanol.php
It says....
How KDS enhances the production of Cellulosic Ethanol
To be announced.
"Regarding green energy companies.....
This is new on the FASC website....
http://www.fasc.net/cellulosic-ethanol.php"
Yep, open it up folks and it says a lot about FASC. ABSOLUTELY NOTHING. lol.
Of course...
IMO.
Aussie
Gulf Ethanol to Host Fortune 100 Energy Company
http://www.marketwatch.com/news/story/gulf-ethanol-host-fortune-100/story.aspx?guid=%7BB5E3D499-FB31-4039-82BF-7D8C617639C7%7D&dist=hppr
Regarding green energy companies.....
This is new on the FASC website....
http://www.fasc.net/cellulosic-ethanol.php
How KDS enhances the production of Cellulosic Ethanol
To be announced.
1)The Mitsui collaboration agreement was not a licensing agreement.
The JP Steel Plantech licensing agreement WAS a licensing agreement, which remains in place.
2)I remembered the Malaysian joint venture. What was your point?
Regarding "apples and oranges", what you said had little or nothing to do with my response to your prior post.
In other words, "apples and oranges."
Did these ever occur?
Jul 14, 2004 First American Scientific Corp. signs collaboration agreement with Mitsui in Japan
And, one the cpa doesn't remember
Jun 7, 2004 First American Scientific Corp. finalizes joint venture agreement for the sale of KDS equipment in Malaysia
Of course...
IMO.
Aussie
Once again, the old "apples and oranges" and "DUH!" tricks.
The so-called current Korean deal is not with the same firm, is it? Time will tell if those machines to the new one ever get delivered. And, lets not forget they have to be "tested," a major downfall for FASC over the many, many years.
Again, are the two sold to Malaysia to the same firm? Lets assume for arguments sake they are. Isn't that a far cry from thirty, or five a year? And, you most certainly do have an idea. Why you bragged about it for months. Maybe you'd like some of your old posts about it posted here.
Let's see:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=3996802
TJ.......indeed, and not to mention the Malaysian project, and what may be happening with Japan/Mitsui.
Wrong again! There was a first Japanese deal and even the contract was included in the quarterly report. You do have a short self-serving memory. And, it was, I believe, with none of the firms you mentioned. I'll do some digging later and jolt your memory.
Hmmm! For a deal you "supposedly" don't remember, why would you have written this?
Interesting little tidbit from the Mitsui press release, that hasn't been discussed much.
http://www.fasc.net/newsrelease/04-07-14.htm
"Mr. Kantonen, Chairman of First American Scientific Corp., is pleased to announce that FASC has signed an agreement with Mitsui Engineering and Shipbuilding Co. Ltd. (MES) who will conduct a feasibility study into the marketability of the KDS Micronex System in Japan and evaluate the opportunity of venturing into a licensing agreement to introduce the technology to the Japanese market. In addition, MES has agreed to undertake all necessary steps to file and protect First American's patents in Japan."
The top of one's head must be balding. Oh, yes, we've all read about those "supposed" deals.
Of course...
IMO.
Aussie
A few items for you just off the top of my head....
1) The Mexican licensee just joined up last year.
2) FASC has sold 3 KDS in Korea
3) FASC has sold 2 KDS in Malaysia
4) There was no first Japanese deal. The only deal that was consummated was a licensing deal with JP Steel Plantech (Owned by JFE Engineering, Sumitomo, Kawasaki, Hitachi)...which is still there.
5) I have no idea what pr you are talking about regarding Malaysia.
6) Applications that KDS have been sold to: Oyster shells in Korea, alfalfa in Minnesota, glass in Canada, gypsum in California, palm (empty fruit bunches) in Malaysia, algae in Scandinavia, halloysite clay In Utah, construction waste in Ontario, Canada....to name a few off the top of my head.
7)Talk about any other stocks you like.
I have no reason to bother you on any other stocks on their message boards. I doubt that anyone else here cares.
By terryhallinan on another failing FASC board:
Note: FASC isn't mentioned at all in Brazil. "Brazil and Scandinavia may be next, we'll have to see." LMAO.
Controversy, Benefits of Brazilian Sugarcane Based Ethanol Chemicals and Fuels
http://biz.yahoo.com/iw/080909/0431671.html
This market blurb might have some items of interest for FASC shareholders:
As the Brazilian ethanol industry plans to boost ethanol demand abroad and expand markets, industry participants Cosan, SA (CSAN3.SA) (CZZ - News), Industrial Biotechnology Corporation (Other OTC:IBOT.PK - News), the EPA, John McCain and The Brazilian Sugarcane Industry Association comment on the benefits of sugarcane ethanol.
Brazil is expanding its production and will harvest 12% more cane than last year, with plans to increase ethanol exports 25%. Brazil is currently the second largest producer of ethanol in the world, after the US...
According to Antonio Henrique Prado, manager for International Business Development of Cosan (CSAN3.SA), a Brazil-based company active in the production of sugar and ethanol, "Currently 10% of Cosan's revenues are related to ethanol exports. Even though exports are growing, the robust domestic demand for hydrous ethanol (due to the increasing Brazilian flex-fuel fleet) will likely keep exports importance within Cosan's revenues mix stable in the near term. Over the medium and long-term, exports importance tends to increase."
He notes Sugarcane ethanol provides several advantages over other feedstocks.
He also goes on to say, "The challenge for the Brazilian ethanol industry is to boost ethanol demand abroad, which can be achieved by clarifying the benefits related to sugarcane ethanol adoption and developing alternative suppliers.
"It is our opinion that the current US import tariff on Brazilian ethanol exports compromises the country's capacity to diversify its fuels supplier base and ultimately drains resources from American taxpayers."
Presidential candidate John McCain recently quoted in an interview with a Brazilian newspaper stated, "We made a series of mistakes by not adopting a sustainable energy policy, one of which is the subsidies for corn ethanol, which I warned in Iowa were going to destroy the market and contribute to inflation. Besides, it is wrong to tax Brazilian-made sugarcane ethanol, which is much more efficient than corn ethanol."
EPA Administrator Stephen L. Johnson recently announced the decision to deny a request submitted by the State of Texas to reduce the nationwide Renewable Fuels Standard (RFS). As a result, the required total volume of renewable fuels, such as ethanol and biodiesel, mandated by law to be blended into the fuel supply will remain at 9 billion gallons in 2008 and 11.1 billion gallons in 2009...
By: hypehater
09 Sep 2008, 01:31 PM EDT
Msg. 209011 of 209019
(This msg. is a reply to 209010 by TRCPA.)
Jump to msg. #
LOL! This company has had plans in so many different industries and applications for 10 years I've completely lost track. Ranging in everything from processing zeolite which fell through to processing sludge which has yet to demonstrate success to processing fish pies for cows in the field and everything else in between.
This operation can't perfect one legitimate application and yet you expect investors to buy into the crap that this POS is gonna be a player in cellulosic ethanol? LMFAO!
The only ones that buy into that nonsense are pumpers and drones that still take anything this company at face value.
This is all the truth TR and it's reflected in the share price and lack of interest in what has become a monumental scam and failure.
--------------------------------------------------------
For ten years TR, you have been feeding FASC boards about the KDS and every NEW APLLICATION they supposedly come out with and you expect REAL investors to now swallow the more recent news. LMAO.
Of course...
IMO.
Aussie
Speaking of sales of KDS and their applications......
More recent.....
http://www.fasc.net/news-releases.php
And...
http://www.fasc.net/applications.php
Sorry, this would have been a double post by accident.
Of course...
IMO.
Aussie
By the way, I own a few shares of REAL in the Green Energy/Technology Companies. Also a couple uranium companies.A couple medical/related companies. A few mutual funds. A couple firms in China and a few in Australia. Finally, one in New Zealand. And, well you get the picture, I'm very diversified.
Of course...
IMO.
Aussie
NAH! Nice try. I own shares in many other good, quality stocks, along with just a few pennies. FASC has made me real good money going with its ups and downs.
Your first two paragraphs are just pure hype and the PRs have proven that over the years.
And, you shouldn't challenge on the company reports. Some of your past posts show you couldn't even get the "break-even analysis" correct along with a few other items.
Since June of 2000 you've been preaching about the up-coming company reports. So much so, many posters got weary and leery of reading about them coming and showing absolutely nothing.
Of course...
IMO.
Aussie
Really? Well, you're certainly entitled to your own interpretation of a company growing from R&D stage to now commercial stage, in a variety of applications and geographic locations, which has spread out its costs through licensees, joint ventures, and government grants throughout the world.
You named quite a few of them in your prior post.
All in the up and coming green sector, which will probably be the fuel, literally, for growth in this country.
And financially, the company runs at about $200K G&A cash outflow per quarter.
Do they need to continue growing cash flow from revenues? Sure do. Maybe you're not one for 10K's or 10Q's, but we will get a little more of a peek in two such reports upcoming through 11/15.
BTW, do you have any interest anymore in any other stocks, or has FASC captured 100% of your interest?
Yet another "consecutive post" --LMAO.
Not impressive for stock holders in since the beginning of that list. So far, it's a list of all FASC failures to their investors. All they have is empty pockets. In fact, two of them are dead. The list is accurate and so is my claim. Even you can't deny that.
As for your stab at it being in a hot sector. Totally unproven by FASC itself. As for renewable energy, again, not proven with a viable sale that has proven it over ANT time period. And, there is much bigger and better competition out there.
And, you can keep wondering if cellulose ethanol might be next on the list. So far, it's not on the list. Not saying they might not be in the infamous "TESTING LABS" working on it.
Glad to share the truth any time against the self-serving hyping of FASC.
Of course...
IMO.
Aussie
Pretty impressive list for a company that has developed into commercial stage from its previous R&D stage.
And in quite a hot sector, renewable/alternative energy and waste recycling.
Some new developments, too, over the last couple of months.
I wonder if cellulosic ethanol might be next on the list?
Thanks for sharing.
Since you insist...
IMPORTANT!
ATTENTION POTENTIAL BUYERS OF FASC!
Check out the following list, nothing has yet to materialize.
Can you name another company with as long a list of failures as FASC?
Do you really want to put your money into a company like this? And, remember, the list really goes back to 1995 and, still zip, zilch, zero.
Don't be surprised if some of the news seems to be repetitive or "RE-CYLED" LOL.
Jan. 23, 2002 Announces arrival of KDS equipment in Montreal in preparation for Exfor Pulp & Paper Exposition
Mar. 1, 2002 FIRST AMERICAN SCIENTIFIC CORP and THERMIX announce that Hydro-Quebec Capitech Inc, the investment capital division of energy giant Hydro Quebec, one of the worlds largest hydro-electric power producers, has joined Alternative Green Energy Systems Inc (AGES) as an equity partner with an initial investment of $1,000,000 to assist in research & development, marketing and operations.
Mar. 25, 2002 Sale of KDS equipment in Ireland to open new markets in organics waste processing May 30, 2002 Announces that AGES has entered into a contract with Hollywood Park Racetrack of Inglewood, California, to provide a preliminary engineering study to build an electrical co-generation system designed to operate on racetrack waste.
July 31, 2002 First American Scientific to attend Environment Japan 2002 Import Fair in Osaka sponsored by JETRO and BC Trade Mission
Nov. 25, 2002 Sale of 3 KDS systems to a Vancouver Island waste management and recycling firm
Dec. 10, 2002 Atlantic Packaging Products Ltd. signs letter of intent to purchase KDS equipment.
Feb. 5, 2003 First American Scientific Corp -Update on activities in Japan
Feb. 10, 2003 Announce receipt of an additional investment of $400,000 from HydroQuebec Capitech Inc.
June 12, 2003 Wins competition for research grant awarded by United States Department of Energy
Nov 24, 2003 Announces plans to build a production facility in Princeton, BC, to produce micronized zeolite
Feb 23, 2004 Announces sale of KDS Micronex to Atlas Mining Company
Apr 06, 2004 First American Scientific Corp. (OTCBB:FASC) Announces Signing of a $5,000,000 Contract with Halliburton Group Canada.
Apr 22, 2004 Laboratory results confirming Pathogen Kill in KDS Micronex
Apr 29, 2004 First American Scientific Corp. (OTCBB:FASC) Announces sale of KDS Micronex to Firma Codogni in Poland
Jun 7, 2004 First American Scientific Corp. finalizes joint venture agreement for the sale of KDS equipment in Malaysia
Jun 14, 2004 First American Scientific Corp. (OTCBB:FASC) announces site acquisition and commencement of construction of zeolite processing facility at Princeton B.C.
Jul 14, 2004 First American Scientific Corp. signs collaboration agreement with Mitsui in Japan
Jul 26, 2004 First American Scientific Corp. (FASC.OB) selected to participate with the University of Tennessee in USDA Biomass Research Initiative
Sep 9, 2004 First American Scientific Corp. (FASC.OB) signs US$1M funding agreement with WRAP in the U.K.
Oct 8, 2004 First American Scientific Corp (FASC - OTCBB) completes installation of KDS Micronex equipment in Utah and Poland
Oct 28, 2004 First American Scientific Corp. (FASC - OTCBB) and AGES announces SDTC grant approval for KDS 3000 construction and installation
Nov 9, 2004 First American Scientific Corp (FASC - OTCBB) announces completion of construction of its zeolite processing facility in Princeton B.C.
Dec 16, 2004 First American Scientific Corp. (OTCBB:FASC) takes counter measures to stop "naked shorting" of its stock
Jan 12, 2005 First American Scientific Corp. announces sale of KDS equipment under Waste & Resources Action Programme ( WRAP ) in the UK
Feb 9, 2005 First American Scientific Corp. (OTCBB: FASC) files KDS patents in Japan
Mar 23, 2005 First American Scientific Corp. announces sale of KDS Micronex equipment in Asia
Apr 1, 2005 Progress Report on WRAP project in the U.K.
Jun 20, 2005 First American Scientific Corp. announces sale and installation of KDS Micronex MF-777 at first biomass co-generation power plant in Malaysia
July 5, 2005 First American Scientific Corp announces funding agreement for project to install new KDS3000 system at Flakeboard Company Limited in Canada.
Oct 25, 2005 First American Scientific Corp (FASC - OTCBB) announces signing of exclusive agreement to license KDS technology in Japan
Nov 18, 2005 First American Scientific Corp. signs agreement to license KDS technology and set up demo facility in Korea
Jan 17, 2006 First American Scientific Corp (FASC - OTCBB) announces delivery of first KDS Micronex to Yokohama, Japan
Feb 2, 2006 First American Scientific Corp. (OTCBB: FASC) Sells First KDS System to JNK Heaters in South Korea
Apr 4, 2006 First American Scientific Corp Signs Distribution Agreement With EnergyCabin at Globe 2006 Environmental Conference
Apr 18, 2006 First American Scientific Corp (FASC - OTCBB) announces signing of Joint Venture Agreement to Introduce KDS Technology in Brazil, Uruguay and Argentina
May 18, 2006 First American Scientific Corp (FASC - OTCBB) Announces Sale of KDS Equipment to Be Installed at Waste Water Treatment Plant in Seoul, Korea
Oct 2, 2006 First American Scientific Corp. Announces Sale of KDS Micronex Equipment to Nutritech Solutions Ltd. (NTS)
Oct 9, 2006 First American Scientific Corp. (FASC -- OTCBB) Announces Sale of the EnergyCabin to Nakusp Energy Corp
Nov 7, 2006 First American Scientific Corp Announces Commencement of Pilot Project at Municipal Waste Treatment Facility in the City of Anyang, South Korea -- Is this for real or are they yinging and yanging shareholders once again? LOL.
And, you can rest assure that any FASC PRs issued since will join this list.
Of course...
IMO.
You've picked FASC since Jan 24, 2006 and how many PRs have come true? Before that there is a long list of FASC PRs that never came to realization. What ever became of those Energy Cabins?
Since Jan. 23, 2002 isn't there a list of about 40 PRs that have not come to realization? And, haven't those same PRs, that were highly touted by FASC in their quarterly reports, all of a sudden disappear on subsequent quarterlies with absolutely no explanation to investors?
Would you care for the list of broken PRs?
Of course...
IMO.
Aussie
Son...
I pick FASC
You pick a stock.
We see whose stock did better a year from now.
"Give it a go, mate"
I'm not selling ANY of my shares, I will live in the streets before I do that.
"...better yet buy some stock before news hits." when was the last time real news hit? Since June 16 FASC has had five PRs. I guess the investing public didn't think they were so real. Which has been the norm for FASC. PRs with no real meat to them. LOL.
Of course...
IMO.
Aussie
Hunches never replace good solid DD.
Of course...
IMO.
Aussie
YUP, now it makes sense why the PPS of this stock has gone from its August 1st high of $.055 to almost back to its May st low of $.02.
Of course...
IMO.
Aussie
Jim Rogers speaks on Fannie Mae at http://investinginsecurities.com
From the homepage of First American Scientific Corporation
FASC's patented grinder-dryer KDS Micronex™ is an all-in-one solution which efficiently and economically processes a wide variety of raw materials and wastes into fine, dry powders which can be used for the manufacturing of ethanol other "green fuel" or pathogen free fertilizer.
FASC may very well be a cellulosic ethanol play. Keep an eye on this stock or better yet buy some stock before news hits. (I'm not privy to any impending news but I got a hunch some is coming!)
Company website: http://fasc.net
Coming soon: http://kdsmicronex.com
You can watch videos of the KDS Micronex here:
http://biodieselinvestors.com/
http://biomassinvestors.com/
http://celluloseethanolproducers.com/
http://cellulosicethanolinvestments.com/
http://investinginsecurities.com/
http://investinginstockmarket.net/
http://jatrophaproducers.com/
http://midweststockconsultingllc.com/
http://whyinvestinenergy.com/
No problem, I've been the opposite of busy lately so I was happy to do it.
Thanks bud been meaning to do that but been very busy lately
once again thanks it looks good :)
Hey Dale, I thought the iBox could benefit from a little colour. Hope you don't mind. :0)
If you liked it better the other way no worries, just go into the iBox and revert back to a previous version.
Thanks for the heads up I fixed it.
I have to email my website guy for the banner link that isn't working
Thanks again bud :)
I don't think thewhygreennetwork.com should be there, it belongs to Wall St. SEM :0)
P.S. Check out the bottom banner link at http://jatrophaproducers.com
will do been super busy lately
I'll get to it in lil bit :)
Thanks,
Dale
Hey bud, just a heads up, but you probably want to change a couple sites in your iBox.
Great article today in the Investors Business Daily:
http://www.investorsbusinessdaily.com/editorial/IBDArticles.asp?artsec=16&issue=20080804
Cellulosic Ethanol Firms Raise Capital As They Move Toward Real Production
BY NORM ALSTER
INVESTOR'S BUSINESS DAILY
Posted 8/4/2008
Capital is slowly starting to flow to developers of second-generation ethanol. And not a moment too soon.
First-generation ethanol, most often derived from corn or sugar, has been blamed, fairly or unfairly, for things from pollution in the Gulf of Mexico to the yeasty price of bread. Competing economic interests — including Big Oil, food processors and livestock producers — have lobbied to curb federal mandates for ethanol.
Corn-based ethanol was never the long-term goal of planners and entrepreneurs hoping to stem the flow of America's wealth to foreign, often hostile, oil producers. Cellulosic ethanol, derived from non-food plant matter like wild grasses and wood chips, has been the hope on the horizon. Unlike corn-derived ethanol, it does not divert land from food production. It also takes far less water and energy to produce. And cellulosic would emit 86% less greenhouse gas than gasoline, the Energy Department estimates.
Not Ready For The Pump
Cellulosic ethanol is still a work in progress. Production costs, though falling, must fall further. Companies have to prove that their small-scale tests can scale up to high volumes. And while firms are working on a variety of different methods, analysts don't expect cellulosic ethanol to fuel cars in any meaningful way for at least a few years.
But several companies, backed by both private and public funding, are moving toward commercial production. Raising capital in the current credit crunch has not been easy. But some large corporations, along with private equity investors, have been building cellulosic stakes.
In May, DuPont (DD) and Genencor announced a $140 million joint venture to commercialize cellulosic. General Motors (GM) and Marathon Oil (MRO) have invested in Mascoma, a startup built on enzyme research done in New Hampshire. GM also has taken a stake in Illinois-based Coskata, which is betting on microorganisms to create fuel. Chevron, (CVX) as part of its stated $2.5 billion 2007-09 commitment to alternative energy, is partnering with Weyerhaeuser and several universities to develop cellulosic.
In July, Range Fuels, which recently raised more than $100 million, broke ground in Georgia on what may become the first commercial-scale facility making second-generation ethanol.
"We found there is in fact a lot of money in the equity markets that wants to invest," said Mitch Mandich, CEO of Broomfield, Colo.-based Range Fuels.
The offer was over-subscribed, letting Range raise more than it originally sought. Range hopes to produce 20 million gallons of ethanol by 2010. In time, Mandich expects the plant to turn out 100 million gallons a year.
Also vying to be first to market is BlueFire Ethanol Fuels. In late July, Los Angeles County granted BlueFire a permit to build a plant that will convert organic waste from an adjacent landfill into fuel. BlueFire CEO Arnold Klann expects to begin production by next August and is planning a second, larger plant.
"We're raising capital for both projects," said Klann, who estimates that BlueFire needs an additional $30 million. But it won't end there. "We're planning on building 20 plants in seven years. We're going to have 1 billion gallons of production."
Big Gov't Targets
If realized, that would represent a very healthy chunk of second-generation ethanol. The Bush Administration has targeted 16 billion gallons of cellulosic fuel by 2022. The near-term goal is 100 million gallons by 2010. An Energy Department scientist, who asked that his name be withheld, described the targets as "achievable" but also "very challenging."
Vinod Khosla, co-founder of Sun Microsystems, (JAVA) whose Khosla Ventures has stakes in several firms, is more sanguine: "We foresee cellulosic ethanol online in a few years at a production price that is cheaper than gasoline. The government mandates are reasonable targets, and I think they will be met, and probably exceeded," he wrote in reply to e-mailed questions.
Of course, reality frequently has failed to live up to rosy projections for alternative energy.
DOE has contributed $1 billion to cellulosic development over the last two years. The newly passed farm bill is also helping to loosen the private capital spigot, says Klann. A 50-cents-a-gallon producer tax credit for cellulosic will sit atop the 45-cent credit already allocated for ethanol in general. And the bill provides for federal loan guarantees for cellulosic firms.
"The farm bill is really helping raise capital because it's ameliorating the risk," said Klann.
At what oil price will cellulosic ethanol be able to compete? "Everybody's cellulosic technology is different," Mandich said. But he believes some cellulosic makers, including Range Fuels, will be competitive at $60. "For the most part, oil above $60 a barrel will allow some pretty significant competition. At $100 a barrel or more, it allows for more entrants."
"We are confident we will be able to make ethanol for less than a dollar a gallon within three years," enthused Wes Bolsen, chief marketing officer for Coskata, which uses patented bacteria strains to break down plant matter.
Coskata recently raised $50 million. Within the next two months, it hopes to close another round of $50 million. "One or two" Fortune 50 companies will participate, said Bolsen.
Commercializing new technology is never risk-free. Several promising cellulosic hopefuls have already delayed or changed plans. Verenium (VRNM) has been slowed by "financing issues and cost overruns," said Ron Oster, an analyst with Broadpoint Capital. Verenium shares plunged 92% from February 2007 to a record low of 1.05 last month.
Two DOE award winners have already dropped out of the program.
The debate over corn-based ethanol has turned some investors off cellulosic. "There are some investors who won't get involved in ethanol of any type because of the adverse publicity corn-based ethanol has gotten," Mandich said.
Critics contend that corn-derived ethanol requires as much energy to produce as it saves in the gasoline it replaces. They also blame ethanol for propelling corn and other grains prices to record levels, squeezing consumers worldwide.
But some dispute these claims. The Department of Agriculture has concluded that ethanol has contributed to just 3% of the total rise in food prices. The DOE claims that corn ethanol yields 30% in energy savings.
Cellulosic, nearly all agree, would save much more and would not affect food prices.
Meanwhile, ethanol may be keeping oil and gas prices from rising even faster than they have. Oil prices would be 15% higher were it not for ethanol, Merrill Lynch says.
On one ethanol drawback there is agreement: It cannot be transported by existing fuel pipelines. Hence, it will need to move by rail or truck unless a new moisture-resistant pipe network is built. That's one reason Mandich is building in the Southeast, home to many blenders of ethanol and gasoline.
Copyright 2000-2008 Investor's Business Daily, Inc. Click here for copyright permissions!
Copyright 2000-2008 Investor's Business Daily, Inc.
Green Companies are really starting to surface on the newswires lately :)
FASC a very good day today :)
KDS Micronex HD video up on http://www.jatrophaseedsuppliers.com/
will do :)
Interesting read on Hyrdogen from Algae:
http://ergosphere.blogspot.com/2005/06/fertilize-this.html
FASC looking good .029 x .03 now and .03 ask getting hit :)
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This investment board has been created to discuss Green Energy/Technology Companies and only stocks that fall under that realm.
I feel this is already a hot sector and in the coming years will become the hottest market sector especially with increasing oil prices.
The following investing sites will be profiling Green Companies and are recommended resources:
Here are some solid Green Energy websites:
Discussion topics can include but are not limited to: biofuel investments, biodiesel investments, biomass investments, cellulose ethanol producers and cellulosic ethanol investments, jatropha producers, solar stocks, flex fuel, and fuelcell technology.
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