Dynamotive Announces Successful Production Run of BioOil
29 March 2000
Dynamotive Technologies Announces Successful Production Run of BioOil Made from Sugar Cane Bagasse, Opening Significant Opportunities for Its Technology WorldwideVANCOUVER, March 29 /CNW-PRN/ - DynaMotive Technologies Corporation (OTCBB: DYMTF) today announced completion of a production run of BioOil made from sugar cane bagasse using its patented BioOil pyrolysis technology. The production run, which produced high quality BioOil, was carried out at the Company's pilot plant in Vancouver, BC with bagasse shipped from Usina Santa Helena - Cosan Bom Jesus Group, one of Brazil's largest sugar and ethanol producers. The run was completed without modifications to the Company's BioOil plant and with only minor modifications to the feed system. Commenting on this development, Raymond McAllister, Director, Corporate Communications and DynaMotive spokesperson said, ``Validating production of BioOil from sugar cane bagasse is a major milestone in the commercial development of DynaMotive's pyrolysis technology. Bagasse - a solid, pulp material remaining after the extraction of juice from sugar cane - is an abundant waste by-product from the sugar producing process. ``Sugar cane production worldwide represents a major opportunity for DynaMotive,'' said McAllister. ``Approximately 1,340 million metric tonnes of sugar cane were processed in 1999, with world sugar production reaching a record 134 million tonnes in the same period. This equates to approximately 375 million tonnes of bagasse waste, 50% of which is typically burned. Main sugar producers include Brazil, Australia, South Africa, Cuba, China, Thailand and Indonesia amongst others. Sugar production is also significant in tropical and subtropical islands where production of BioOil from sugarcane bagasse could displace fossil fuel imports for power generation purposes. ``A commercial BioOil production plant processing 100 tonnes of dry bagasse per day would produce approximately 22,000 tonnes or 4.8 million US gallons (18.3 million litres) of BioOil per annum, displacing 2.7 million US gallons (10.3 million litres) of diesel oil and providing 30,000 tonnes of green house gas (GHG) credits.'' DynaMotive Technologies is a world leader in the development of technology to produce BioOil clean fuels for power generation in gas turbines, diesel engines and boilers. BIoOil is produced using a patented technology that converts low value forest and agricultural wastes into a liquid fuel. Unlike fossil fuels, BioOil is clean burning, low in SO(x) and NO(x) emissions, greenhouse gas neutral and can be produced economically from renewable biomass waste materials. 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.