dymtf- Should move up next few days.
1.49 target
DynaMotive Announces MOU with Mitsubishi Canada Limited for Marketing and Distribution of Dynamotive's Fast Pyrolysis Technology
Tuesday December 20, 12:15 pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 20, 2005--DynaMotive Energy Systems Corporation (OTCBB:DYMTF - News) announced today that the Company and Mitsubishi Canada Ltd., have entered into a wide-ranging Memorandum of Understanding ("MOU") which expresses their mutual intentions to develop definitive agreements for marketing and distribution of DynaMotive's patented technology in Canada and internationally.
The MOU is based on Mitsubishi Canada Ltd. and DynaMotive's recognition that responding to Global Warming, Protecting Bio Diversity, Power Generation and access to Energy are global issues that must be addressed through the application of sustainable practices.
Mitsubishi Canada Ltd. and DynaMotive agreed to explore collaboration in the following areas of interest:
International trade, market development, logistics and sales and distribution of DynaMotive's technology and products;
Financial services including, but not limited to, development of financial models, financial resources and risk management capabilities;
Equipment fabrication, distribution and leasing;
Corporate investment in DynaMotive Energy Systems Corp. (potential interest).
Mitsubishi Canada Limited is a wholly-owned subsidiary of Mitsubishi International Corporation, New York, USA and is ultimately owned by Mitsubishi Corporation (MC), Tokyo, Japan. MC is Japan's largest general trading company (Sogo Shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 51,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise
