Syntec Biofuel Promotes 'Lifeline' Offer to Stricken Corn Ethanol Industry
24 Junio 2008 - 12:23PM
Marketwired
VANCOUVER, BRITISH COLUMBIA , a biofuel technology company
developing thermo-chemical catalysts to convert biomass wastes into
ethanol and other alcohols, says the traditional ethanol industry
needs a technology lifeline thrown to it now that corn prices have
triggered major plant closures and delays.
"Corn prices have killed any prospect that most of those using
fermentation processes with grain feedstock can produce ethanol
cost effectively. That's why we are seeing a surge in interest in
non food feedstock thermo-chemical processes using waste biomass
such as wood chips, corn stover and sugarcane bagasse for
ethanol.
"For years, nearly 100% of the ethanol industry's attention has
been focused on fermentation processes. These processes were always
vulnerable to the price of corn, but no one thought prices would
skyrocket to these levels so soon, if at all.
"This left highly viable thermo-chemical processes, such as
Syntecs' and Range Fuels, out in the left field up until recently,"
continued Jackson.
"Well, long term corn futures are over $8 and the industry is
stricken by its feedstock costs. That's why we are prepared to
throw the industry a lifeline and offer a free license to use
Syntec's thermo-chemical catalysts, which is moving towards
commercialization, to convert corn stover, or other cellulosic
waste biomasses, into ethanol and other alcohols."
Jackson said the license itself is worth $250,000. "However, if
it leads to the widespread adoption of thermo-chemical ethanol
production, its value, aside from strictly commercial
considerations (Syntec will still earn a royalty fee on the alcohol
produced) will be inestimable to the US as it continues its
struggle to reduce foreign oil dependence." Syntec's business model
is developing smaller 12MM gpy facilities that would cost
approximately US$50 million and generate about $28 million revenue
and EBITDA of approximately $17 million. Syntec will earn royalty
fees of approximately US$900,000 per year from each licensee.
"Some of the largest companies in the world have been visiting
us and doing their due diligence. These companies, I would suggest,
realize this is no longer a one horse race, technologically,"
concluded Jackson.
ABOUT THE SYNTEC PROCESS
Syntec Biofuel Inc. is a second-generation cellulosic ethanol
company incorporated in Washington State, based in British
Columbia, Canada. The company is a leading developer of proprietary
catalysts to convert biomass into ethanol, methanol, butanol and
propanol via thermo-chemical synthesis. The company does not use
food crops like corn or wheat, but instead uses waste biomass such
as wood chips, bark, sawdust, corn stover, wheat straw, sugar
bagasse, MSW, and landfill gas and even animal manure to produce
ethanol. The company's business model is to license its technology
on a fee and royalty basis, develop JV partnerships, and generate
revenue from the sale of catalysts.
For information; please contact info@syntecbiofuel.com or call
604-648-2092.
For Licensing opportunities please contact Michael at
604-681-1064
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Contacts: Syntec Biofuel Inc. Nancy Ross (604) 648-2092 (604)
648-2091 (FAX) Email: info@syntecbiofuel.com Website:
www.syntecbiofuel.com
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