DynaMotive Announces Location, Completes Engineering and Procurement and Commences Construction of Its New BioOil Pilot Plant
11 October 2000
DynaMotive Announces Location, Completes Engineering and Procurement and Commences Construction of Its New BioOil Pilot PlantVANCOUVER, Oct. 11 /PRNewswire/ - DynaMotive Technologies Corporation (OTCBB: DYMTF) today announced that it has completed engineering and procurement for its new, 10 tonne per day (tpd) BioOil pilot plant and that construction is underway and expected to be completed by the end of the year. This will be followed by a commissioning period of 3-6 months. The Company also confirmed that the new plant, announced in March 2000, will be located at B.C. Research Inc. (BCR) in Vancouver. In addition, BCR has taken an equity position in DynaMotive which plans to further expand its operations and R&D program at the technology development complex. "Over the past six months, we have completed all detailed design engineering and procurement for the new plant," said Director of Engineering Warren Johnson. "We are now fully engaged in the next phase of the project, construction and assembly, which we expect to complete by the end of this year. When fully commissioned, the larger plant will enable us to validate the process technology at the next level of scale-up and to test the new equipment. The plant has been built to industrial specifications complete with state of the art control systems used worldwide in commercial facilities. With a production capacity of 6,000 litres of BioOil per day, it will provide us with much larger quantities of BioOil for engine and combustion test programs." Dr. James Hill, President & Chief Operating Officer with BCR, said, "DynaMotive has made substantial progress over the past two years in optimizing its BioOil technology and testing BioOil in gas turbine and other engines. BCR is pleased to become a partner with DynaMotive in the next phase of commercialization of their technology and we look forward to expanding our collaboration with DynaMotive." BC Research Inc. (BCR) is a bio-chemical sciences company. In addition to providing specialized bio-chemical services, BCR operates a unique "Technology Integrator" concept in which they partner with universities, entrepreneurs and industry to rapidly and fully develop new ideas related to bio-chemical products and processes. DynaMotive 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 forest and agricultural wastes into a liquid fuel. Unlike fossil fuels, BioOil is clean burning, low in emissions, greenhouse gas neutral and can be produced economically from renewable biomass waste materials, including forest residues like bark and sawdust and agricultural wastes like sugar cane bagasse. DynaMotive has been testing its BioOil with a number of engine manufacturers including Orenda Aerospace and Solar Turbines. DynaMotive currently produces BioOil at its pilot plant in Vancouver BC. Once the new 10 tpd BioOil plant is fully commissioned, the Company plans to build a 25 tpd commercial demonstration plant in 2001 which will serve as a springboard for design and construction of full scale, 100 to 400 tpd commercial plants to be built in Canada, Europe, Brazil, Asia and other international markets. 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.