Syntec Biofuel Expands Into Natural Gas and Coal and Will Apply to Change Name to Synthenol(TM) to Reflect Expansion
23 Octubre 2009 - 8:00AM
Marketwired
Syntec Biofuel Inc. (OTCBB: SYBF) has announced today that it will
apply to change its name to "Synthenol,(TM) Inc." in order to
differentiate the Company from a conventional biofuel business.
Syntec Biofuel's technology is based on a simple process of
converting syngas, generated from biomass, natural gas or coal,
which is reacted with Syntec's patent pending catalysts to produce
not only ethanol but methanol and other high value alcohols such as
propanol and butanol.
The Company has identified two reasons for the change. First,
the deletion of the term "biofuel" highlights Syntec's unique
difference from companies producing corn, wheat and cellulosic
ethanol, which have been devastated by the increase in feedstock
cost and the decrease in price of ethanol. Syntec believes that it
is important that its shareholders understand that the Company's
range of 4 products poses a lower investment risk than producing a
single biofuel (such as ethanol) and offers the opportunity for
higher revenues, as the average price of the mixed alcohols is
currently over $2.50 per gallon.
"Syntec Biofuel's core technology produces mixed alcohols
comprised of methanol, ethanol, propanol and butanol," said Syntec
Biofuel CEO Michael Jackson. "These four alcohols create four
different revenue opportunities for the Company as they are widely
used primarily in the chemical industry."
The second reason the Company identified for the name change
from "Syntec Biofuel" to "Synthenol" is that this change signals
the expansion of the Company's research and development beyond
merely biofuels. While its original model was based solely on the
utilization of biomass or biogas-the so called "green gases"-its
ability to produce mixed alcohols from natural gas and coal has
allowed Syntec to increase the potential its catalyst offers.
"We have decided to broaden our market reach by offering our
technology to coal producers and to natural gas and methanol
producers that might include Methanex, BP, Sabic and Mitsui," noted
Jackson.
About Syntec Biofuel
Syntec Biofuel is a Washington State corporation, based in
Vancouver, British Columbia, Canada. The Company has developed
patent pending catalysts to produce not only ethanol, but also
methanol and other high value alcohols such as propanol and butanol
from biomass, coal and natural gas. Syntec is continuing to build
up their management infrastructure.
For more information, visit www.syntecbiofuel.com.
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. Nancy Ross (604) 648-2092 (604)
648-2091 (FAX) nancy@syntecbiofuel.com www.syntecbiofuel.com
Investor Awareness, Inc. Tony Schor or James Foy (847) 945-2222
www.investorawareness.com
Syntec Biofuel (GM) (USOTC:SYBF)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Syntec Biofuel (GM) (USOTC:SYBF)
Gráfica de Acción Histórica
De May 2023 a May 2024