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Re: None

Wednesday, 02/15/2023 6:06:36 PM

Wednesday, February 15, 2023 6:06:36 PM

Post# of 11961
Some info from Sedars, for those that are interested.

BSP has taken the decision to make pilot plant in Laramie Wyoming a permanent test plant. The current production rate is 8,400 tonnes per year will be increased to 50,000 tonnes per year. The Company is working with Western Research Institute (WRI) to obtain a grant to cover cost of expansion. WRI has brought in Kathy Lenz who is Resource and Economic Development Manager / Grant Coordinator and works for US Senator Cynthia M. Lummis (Wyoming).
The pilot plant will be used as is to produce an order for 1,350 tones of Biocoal and a second order of 8,000 will be filled once expansion completed.
The Pilot plant will be used to test and produce samples of Biocoal from 21.5 GJ/t to 27mGJ/t, as well as samples for steel mills, concrete plants and jet fuel.
BSP provided Biocoal samples for lab testing by potential clients in Japan, the results met or exceeded expectations and a letter of intent (LOI) was signed with a Japanese trading company. They have now agreed to purchase 1,350 tonnes of Biocoal for testing to be followed up with a second order of 8,000 tonnes from Wyoming pilot plant. The 1,350 tonnes will be used at six power plants to confirm Biocoal is hydrophobic and can be moved and handled using existing plant equipment. The 8,000 tonnes will be used for test burns in up to six power plants. The client has confirmed that upon completion of testing this will become a long term off-take agreement being signed for plant production at Natchitoches.
BSP had discussions with a New Zealand power company that are looking for 750,000 tonnes of Biocoal, BSP will continue discussions in 2023.
The Company has held discussions with a company who plan to build a plant to make jet fuel, they are working on FEL 2 and when completed we will continue discussions to provide 650,000 tonnes of Biocoal.
The Company has been approached by a Consultancy firm, with a client in the concrete industry that is looking for 100,000 tonnes of Biocoal with 75 % carbon, this would be a very high value product that could provide additional revenue streams. We would be able to condense and sell volatiles for jet fuel. The Company can produce this level of carbon however further research in cost of production is required prior to proceeding in this area.
The Company has a number of inquiries from the steel industry to use Biocoal as a replacement for sub-bituminous coal.