DynaMotive Announces Corporate Development Strategy for 2000
22 September 1999
DynaMotive Announces Corporate Development Strategy for 2000 As It Commences Commercial Exploitation of Its BioOil TechnologyVANCOUVER, British Columbia, Sept. 22 -- DynaMotive Technologies Corporation (OTC Bulletin Board: DYMTF) today announced its corporate development strategy for 2000 as it commences commercial exploitation of its technologies. DynaMotive aims to early position its "pyrolysis" technology (a proprietary process that converts biomass waste into a liquid fuel) in its key markets -- Europe, Latin America, the US and Canada -- in 2000, and plans to develop permanent presence in these markets to support expansion efforts. In 1999, DynaMotive has consistently improved the efficiency of its BioOil production technology and has met all its technical development milestones. It is continuing to produce high grade oil from biomass and has developed engineering designs for scale-up facilities. Furthermore, DynaMotive's biomass oil has been tested successfully by various engine manufacturers in Europe and Canada. Testing programs continue and the Company will be reporting on them shortly. "DynaMotive aims to establish its technology as the industry benchmark for the production of biomass oil and early positioning is a key element in its development strategy," said Andrew Kingston, DynaMotive President & CEO. "To achieve this objective the Company intends to work closely with its partners at commercial, technical and research levels. Having a presence in our core markets is a cornerstone of this strategy. "We are confident that our open approach to market will prove successful. Over the past six months, our contacts with private, research and government organizations at various levels have met with excellent response and have resulted in significant interest in our technology. "The DynaPower metal cleaning division also continues to expand its market reach and is expected to meet or exceed its 1999 sales targets," Kingston said. "We are pleased with the progress of our metal cleaning division. Repeat orders from customers demonstrate that the market is responding positively to our technology and that the Company is increasingly being recognized as a leader in this industry. For 2000, the division will establish marketing and manufacturing agreements in Europe and in the Far East and build on the success of 1999. The Company will be reporting on the division's performance shortly." DynaMotive Technologies develops and markets environmental technologies that provide clean, competitive alternatives to traditional industrial processes. The BioOil division is commercializing a renewable energy technology that converts low value forest and agricultural waste into liquid BioOil. BioOil can be used as a clean burning liquid fuel substitute to fossil fuels to generate "green" power in stationary diesel engines and gas turbines. BioOil can also be used as the raw material for a range of derivative products including fertilizers, air pollution control agents and special chemicals. The Company's DynaPower division produces industrial metal cleaning systems that eliminate the need for toxic chemicals traditionally used by the wire manufacturing industry to clean their products. Forward-Looking Statement Statements in this news release concerning the company's business outlook or future economic performance; anticipated profitability, 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" as that term is defined under the Federal Securities Laws. Forward-looking statements are 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 and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.