Blue Diamond Ventures Inc (BLDV)

[quixopixs]

more DD: Dynamic Fuels-Syntroleum/Tyson Foods joint venture

OK, so Syntroleum is going for Bonds and working with Tyson in building a bigger plant. So what about their other plant they want to sell? They want to raise $135 million but sbc rules say they can only raise $100 million. Think they might sell their smaller plant to BLDV for the difference in funds needed?

Very interesting indeed. Hard to keep track of all the spin off companies and shells.

"The shells will try to hide the little pea, but there is nothing better then doing a little DD".

Quix



Dynamic Fuels Secures Preliminary Approval for Bonds
Monday May 19, 1:53 pm ET
Venture by Tyson Foods and Syntroleum to Use Louisiana GO Zone Bonds
http://biz.yahoo.com/pz/080519/143008.html
GEISMAR, La., May 19, 2008 (PRIME NEWSWIRE) -- Dynamic Fuels LLC has secured preliminary approval from the Louisiana State Bond Commission (SBC) of its application to issue tax exempt Gulf Opportunity Zone (GO Zone) Bonds to fund the building of the company's first renewable synthetic fuels facility in Geismar, Louisiana. Dynamic is a 50:50 venture between Syntroleum Corporation (NasdaqCM:SYNM - News) and Tyson Foods, Inc. (NYSE:TSN - News) to convert low grade, inedible fats and greases into renewable synthetic diesel, jet and military fuel.

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While the amount requested on the application was $135 million, rules recently adopted by the SBC may limit the actual allocation for any single project to $100 million. Dynamic Fuels and its underwriter, SunTrust, will submit terms for the bond sale for final approval by the SBC at its June 19th meeting. The total estimated cost of the project is $150 million. Remaining funding needed to finance the project will be provided by Tyson and Syntroleum.

The availability of the tax exempt Go Zone bonds is the result of the Gulf Opportunity Zone Act of 2005, which is designed to help rebuild economies devastated by hurricanes Katrina and Rita. The Dynamic Fuels venture is expected to generate approximately 250 short-term construction jobs and 65 highly skilled permanent jobs.

``We appreciate the Commission's decision to approve the bonds, which will provide beneficial financing for this project,' Jeff Webster, senior vice president of Tyson's Renewable Products Division. ``In addition to creating jobs, this value-added venture will give animal agriculture an opportunity to participate in the production of renewable fuels and is also an environmentally sound way to contribute to America's energy security.'

``Approval of our application by the Bond Commission is a key milestone in our efforts to build a new industry in this country,' said Jeff Bigger, senior vice president of business development for Syntroleum. ``Timely action by the Bond Commission permits us to maintain our project schedule and targeted first production in early 2010.'

Engineering and environmental work are in progress and equipment requiring a long lead time has been ordered. Construction is expected to begin in the fall of 2008 with completion targeted for the end of 2009. Once in operation, the plant is expected to produce about 75 million gallons of renewable synthetic fuel annually.

The fuel produced by the venture will offer the same benefits of synthetic fuels derived from coal or natural gas while providing substantial performance and environmental advantages over petroleum-based fuels. These benefits include higher cetane levels, which are a measure of combustion quality, and superior thermal stability, making it effective for advanced military applications. In addition, replacing traditional petroleum fuel with this fuel substantially reduces total greenhouse gas emissions.

Various non-food grade animal fats produced or procured by Tyson Foods, such as beef tallow, pork lard, chicken fat and greases, are expected to be used as renewable feedstock for this venture.