Dynamotive, IFP Energies nouvelles, Axens, Complete Binding Heads of Agreement for Commercial Development of Pyrolysis Oil Upgrading
VANCOUVER, British Columbia– 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.
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.