Syntec to Develop Catalysts to Produce Butanol and Propanol From Biomass and MSW
20 Noviembre 2008 - 8:00AM
Marketwired
Syntec Biofuel Inc. (OTCBB: SYBF) announced today it is launching a
research program to develop catalysts and processes to produce
Bio-butanol and Bio-propanol from biomass.
This new R&D initiative is projected to be a 3 year program
and will run in parallel with Syntec's catalyst development. The
company will be seeking strategic financial partners to support the
estimated costs of US$2,500,000.
Syntec has, since 2001, successfully developed catalysts to
convert biomass and MSW into ethanol, methanol and higher order
alcohols; currently, boasting one of the highest yields in the
world (110 gpt). Syntec is one of a small handful of companies
around the world specializing in thermo-chemical biofuel
technology.
Butanol is considered by many industry experts to be one of the
most promising biofuels, as endorsed by the research initiative
commenced between BP and DuPont. Currently, butanol is used as a
solvent and as a chemical intermediate in thousands of consumer
products and sells for in excess of $5 per gallon.
Propanol plays an important role as a solvent in the plastics
& polymers, pharmaceutical, paint and cosmetic industries. It
is also used as a carrier and extraction solvent for wide range of
natural products and sells for in excess of $5 per gallon.
"Currently, almost all butanol and propanol in the world is
derived from fossil fuels," explained Syntec CEO Michael Jackson.
"The commercialization of Bio-butanol and Bio-propanol will
effectively reduce the carbon footprints of many major
industries."
Forward Looking Statements
This press release contains forward-looking statements that are
subject to certain risks and uncertainties. Although we believe
that the expectations reflected in any of our forward-looking
statements are reasonable, actual results could differ materially
from those projected or assumed. We caution potential investors not
to invest until they have done proper due diligence. 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.
Our future financial condition and results of operations, as well
as any forward- looking statements are subject to change and
inherent risk and uncertainties. Other important factors that may
cause actual results to differ materially from those expressed in
forward-looking statements are contained periodic reports on Forms
10-K, 10-Q and 8-K as filed with the Securities and Exchange
Commission.
Contacts: Syntec Biofuel Inc. Michael Jackson (604) 681-1064
(604) 648-2091 Email: michael@syntecbiofuel.com Website:
www.syntecbiofuel.com
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