DYMTF (1.18) Announces BioOil(R) Production at Guelph Plant
Business Wire "US Press Releases "
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Dynamotive Energy Systems Corporation (OTCBB:DYMTF), announced it completed the initial production run of BioOil(R) in its new generation plant in Guelph, Ontario, Canada. Intermediate grade BioOil(R), which has higher calorific value than regular BioOil(R), was produced. The run is the first of a number of test runs planned that are designed to take the plant to full production in accordance with the commissioning plan underway.
Approximately 40 cubic meters of wood were processed. The first run was at the equivalent daily rate of 50 tonnes of feedstock processed and the second at a rate of 100 tonnes. Dynamotive and Tecna's engineers are currently reviewing operational data and testing is being conducted on the fuel produced. Data will be posted on Dynamotive's website www.dynamotive.com as it becomes available.
Dynamotive plans to market this renewable fuel with the name 'BioOil Plus' as a green and cost competitive alternative to heating oil, fuel oil, natural gas and propane in industry. Industrial fuels represent approximately 20% of hydrocarbon use worldwide.
Further, Dynamotive demonstrated in earlier tests that BioOil Plus can be used as an input to Biomass to Liquid Processes (BTL) as a cost effective means of delivering biomass energy to these plants and in doing so break down cost and logistic barriers to the production of mobile fuels from biomass. Specification on BioOil Plus and industrial application information for the fuel are available at the company's website.
"Cellulose-based fuels present the next frontier in sustainability and Dynamotive's pioneering position in advanced generation biofuels is further enhanced through the achievement of this new milestone. Dynamotive believes that BioOil presents a third alternative liquid fuel to coexist with ethanol and biodiesel," said Dynamotive's President and CEO Andrew Kingston. "By being able to exploit any cellulose raw materials, e.g. forest industry residues, bark, biomass from fields I believe we can become a great contributor to the energy mix and accelerate the adoption of cellulose based fuels."
Recently, at a renewable energy conference in Buenos Aires, Argentina, Kingston announced that the company reached an agreement in principle with the Provincial Government of Corrientes, in northeast Argentina, for Dynamotive, its affiliate, local and international partners to develop, subject to financing and other conditions, six similar plants in that country at a total estimated cost of US $120 million.
Dynamotive has its other plant in West Lorne, Ontario, located midway between Toronto and Detroit, Michigan now undergoing an upgrading of its systems; information on this plant operations and the status of the current upgrade can also be followed in the company's website.
BioOil(R) is an industrial fuel produced from cellulose waste material. When combusted it produces substantially less smog-precursor nitrogen oxides ('NOx') emissions than conventional oil as well as little or no sulfur oxide gases ('SOx'), which are a prime cause of acid rain. BioOil(R)and BioOil Plus are price-competitive replacements for heating oils #2 and #6 that are widely used in industrial boilers and furnaces. They have been EcoLogo certified, having met stringent environmental criteria for industrial fuels as measured by Environment Canada's Environmental Choice Program. BioOil(R) can be produced from a variety of residue cellulosic biomass resources and is not dependent on food-crop production.
Dynamotive Energy Systems Corporation is an energy solutions provider headquartered in Vancouver, Canada, with offices in the USA, UK and Argentina. Its carbon/greenhouse-gas-neutral fast pyrolysis technology uses medium temperatures and oxygen-free conditions to turn dry, waste cellulosic biomass into BioOil(R) for power and heat generation. BioOil(R) can be further converted into vehicle fuels and chemicals. The final stages of the commissioning process at the Guelph plant and the reconstruction of the West Lorne plant may be seen by viewing photographs regularly posted on the company's website at www.dynamotive.com
Statements in this news release concerning the company's business outlook or future economic performance; including the anticipation of future plant start-ups, partnerships, consortiums, teaming agreements, government assistance, other anticipated cash receipts, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements." Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to, changes in energy prices, availability of capital, and the Company's ability to access capital on acceptable terms or any terms at all, changes and delays in project development plans and schedules, customer and partner acceptance of new projects, changes in input pricing, competing alternative energy technologies, government policies and general economic conditions. These risks are generally outlined in the Company's disclosure filings with the Securities and Exchange Commission.