Dynamotive, IFP Energies nouvelles, Axens, Complete Binding Heads of Agreement for Commercial Development of Pyrolysis Oil Upgrading
11/30/2011 | 08:35am
Dynamotive Energy Systems Corporation (DYMTF.pk) announced that the
Company, IFP Energies nouvelles (IFPEN), Axens and Dr. Radlein completed
heads of agreement for the development, scale-up and commercialization
of the Company's proprietary pyrolysis oil upgrading process to produce
second generation biofuels. Renewable Oil Corporation Pty Ltd. (ROC) is
a further counterpart of the agreement. ROC rights and participation are
subject to completion of certain conditions precedent between the
parties.
The Companies agreed to co-operate in the development of the process
pioneered by Dr. Desmond Radlein and Dynamotive. Under the terms of the
agreement IFPEN would continue the development of the process at its
facilities in France. Axens would contribute to the final stages of the
process development and would commercialize the process once it reaches
commercial stages.
Process Highlights:
-
The bio-oil is deoxygenated to a sufficient degree to render it
miscible with typical refinery feeds, minimizing investments and
operating costs.
-
Its oxygen content is substantially reduced so that any further
hydrogen requirements related to post-treatment in a refinery are
strongly decreased to a level suitable with conventional petroleum
product upgrading processes.
-
The product is essentially water free as the residual water forms a
separate phase.
-
The corrosiveness of the product is strongly decreased since most of
the organic acids remain in the water phase.
About IFP Energies nouvelles
IFP Energies nouvelles (IFPEN) is a public-sector research, industrial
innovation and training center active in the fields of energy, transport
and the environment. Its mission is to provide public players and
industry with efficient, economical, clean and sustainable technologies
to take up the challenges facing society in terms of climate change,
energy diversification and water resource management. It boasts
world-class expertise.
For details, please visit its website at http://www.ifpenergiesnouvelles.com
About Axens
Axens, www.axens.net,
is an international provider of advanced technologies, catalysts,
adsorbent and services, with a global reputation for basic engineering
design excellence. The main scope of Axens' business is focused on the
conversion of oil, coal, natural gas and biomass to clean fuels as well
as production and purification of major petrochemical intermediates.
Axens' global offer is based on: highly trained human resources, modern
production facilities and extensive commercial feedback from plants
using our processes and catalysts all around the world.
About Dynamotive Energy Systems Corporation
Dynamotive Energy Systems Corporation is an energy solutions provider
headquartered in Vancouver, Canada. Its carbon/greenhouse gas neutral
fast pyrolysis technology uses medium temperatures and oxygen-less
conditions to turn dry, waste cellulosic biomass into BioOil and Bio
Char. Dynamotive developed an upgrading process to produce transport
fuels from pyrolysis oils in collaboration with Pyrolysis expert Dr.
Desmond Radlein. The process was developed at Dynamotive's research
facility in Waterloo, Ontario.
Dynamotive has received support from Industry Canada through the
Technology Partnerships Canada program. The company has also been
supported by Sustainable Development Technology Canada, an arm's-length
not-for-profit organization established by the Government of Canada in
2001.
www.dynamotive.com
Forward Looking Information
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
20F and other disclosure filings with the Securities and Exchange
Commission
Dynamotive Energy Systems Corporation
Andrew Kingston, +1
(800) 852-0938
President & CEO
info@dynamotive.com
© Business Wire 2011
