Syntec Biofuel Says Nestle Chief's Warning in Food-For-Fuel Debate Will Heighten Interest in Cellulosic Biofuels
01 Abril 2008 - 10:54AM
Marketwired
VANCOUVER, BRITISH COLUMBIA President and Chairman, Michael
Jackson, addressed comments made recently by Nestle's chief
executive Peter Brabeck, warning that the food industry will need
to fight the biofuels industry for arable land. Jackson stated that
Mr. Brabeck's comments further illustrate the importance of
thermo-chemical biofuel solutions based on the utilization of
sustainable waste biomass.
Jackson said, "This is fast becoming a bitter debate with battle
lines being drawn amidst a great deal of misconception. Syntec's
thermo-chemical technology has zero impact on food supplies or on
arable land use, as it only uses waste biomass such as wood chips,
sawdust, bark, agricultural waste, corn stover, wheat straw, etc.
to produce its biofuels.
"For years, corn was cheap and fermentation processes for
ethanol production came to completely dominate the biofuel industry
in North America.
"Now, with corn prices well over $5 a bushel, corn ethanol
economics have gone out of the window as the costs per gallon are
anywhere between $1.50 and $1.90, whereas biomass derived alcohols
will be in the 30 cent range."
Syntec Biofuel utilizes a thermo-chemical process to convert low
cost waste biomass into biofuels without any impact on food crops
or arable land usage at all. The company has achieved a yield of
105 gallons of alcohol per dry ton with its proprietary catalysts -
one of the highest yields in the world at this time.
"In the U.K., the largest capital market in the world, ethanol
is getting a bad rap because of its association with food crops
such as corn and wheat," continued Jackson. "The majority of
investment specialists do not realize there is a viable economic
alternative to fermentation that has no adverse food production
impacts."
About Syntec Biofuel
Syntec Biofuel is a Washington State corporation, based in
British Columbia, Canada. The company is a leading developer of
proprietary catalysts to convert biomass into bio-alcohols.
Syntec's "B2A" (Biomass to Alcohols) process utilizes innovative
technology to produce ethanol via thermo-chemical synthesis. The
company does not use food crops like corn, but instead uses waste
biomass or biogas, such as wood chips, corn stover, municipal
waste, and landfill gas to produce ethanol. The company's business
model is to license out its technology, develop JV partnerships,
and generate revenue from the sale of catalysts. More information
is available online at www.syntecbiofuel.com.
Contact: info@syntecbiofuel.com or call 604-688-3836.
This press release contains statements about future performance,
events or developments, which are also known as "forward-looking
statements." Forward-looking statements are based on current
expectations, estimates, forecasts and projections about us, our
future performance and the industries in which we operate as well
as on our management's assumptions and beliefs. Statements that
contain words like "expects," "anticipates," "targets," "goals,"
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variations of such words and similar expressions are
forward-looking statements. Since they relate to future
developments, results or events, these statements are highly
speculative and involve risks, uncertainties and assumptions that
are difficult to assess. You should not construe any of these
statements as a definitive or invariable expression of what will
actually occur or result. Actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-
looking statements. Some of the risks and uncertainties include:
our ability to achieve commercialization, the social, political and
economic risks of our operations; changes to existing regulations
or technical standards; existing and future litigation; our ability
to protect our intellectual property rights and exposure to
infringement claims by others; and compliance with environmental,
health and safety laws. For a description of these and some other
risks and uncertainties, you should read the reports we have filed
with the Securities and Exchange Commission, including periodic
reports on Forms 10-K, 10-Q and 8-K. Except as required under the
federal securities laws and the rules and regulations of the SEC,
we do not have any intention or obligation to update publicly any
forward-looking statements we make, even if new information, future
events, changes in assumptions or any other reason would alter
those statements. Furthermore, we urge you not to invest in our
company if in the event the company failed your investment loss
would affect your living standards.
Contacts: Syntec Biofuel Inc. Nancy Ross (604) 648-2092 Email:
info@syntecbiofuel.com Website: www.syntecbiofuel.com
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