DynaMotive Announces DTI Renewable Energy Grant For BioOil Consortium

Apr 02, 2001, 01:00 ET from DynaMotive Technologies Corporation

    LONDON, UK, April 2 /PRNewswire/ - DynaMotive Europe Limited, a wholly
 owned subsidiary of DynaMotive Technologies Corporation (OTCBB: DYMTF) and
 producer of clean burning BioOil fuels, today announced details of one of the
 UK Government's largest ever grants to support the development of energy from
 biomass in the UK. The pnds stlg 1.16 million/US $1.7 million grant from the
 Department of Trade & Industry (DTI), which was announced by the UK Energy
 Minister Peter Hain, will enable commercial production testing of an
 integrated BioOil and electricity generating plant to take place in the UK.
 The project is expected to cost in excess of pnds stlg 4.5 million/US $6.6
 million  and will be funded equally by the partners.
     The DTI grant has been made to Border Biofuels and its consortium
 partners DynaMotive Europe Limited and Orenda Aerospace Corporation to aid in
 the development of an integrated feedstock preparation, BioOil production and
 power generation plant in the UK. Border Biofuels plans to construct a 25-
 tonne/day facility utilizing DynaMotive Europe's patented fast pyrolysis
 technology to produce BioOil under a licensing agreement. The plant is
 expected to have a capacity to produce 12,000 litres of BioOil a day - enough
 to power a sawmill.
     When constructed, the plant will mark an important milestone in the
 development of BioOil, becoming the largest commercial production facility of
 its kind in the UK. Building on a successful long-term co-development program,
 the integrated plant will demonstrate the commercial viability of larger scale
 integrated BioOil and electricity production facilities using wood waste as a
 fuel.
     Peter Hain, UK Energy Minister, said: "I attach high priority to research
 and development of sustainable energy sources. Biomass is a key source of
 renewable energy and will be very important if we are to achieve our target of
 securing 10% of our electricity from renewable sources by 2010. I am delighted
 to announce this offer of government support for this exciting and innovative
 research project. The government is very committed to renewables and is
 introducing an obligation on electricity suppliers to supply a proportion of
 their electricity from renewable sources. It has also proposed a capital
 grants programme of pnds stlg 89 million for biomass and offshore wind."
     BioOil is produced using a patented fast pyrolysis technology that
 converts biomass into a liquid fuel. Unlike fossil fuels, BioOil is clean
 burning, low in emissions, greenhouse gas neutral and can be produced
 economically from renewable and non-depleting biomass such as timber, sawdust
 and sugar cane bagasse. It can be used as an alternative to fossil fuels to
 generate power and heat in boilers, gas turbines and diesel engines
     Dr. Adrian Bowles, Director of Border Biofuels, said: "We have long-term
 plans for the production of BioOil as a real alternative to fossil fuels to
 provide electricity in the UK. This testing and demonstration of an integrated
 facility will allow us to refine production techniques, ensuring that BioOil
 can be developed on this basis."
     Antony Robson, Managing Director of DynaMotive Europe, said: "We have
 responded proactively to the European market where regulatory requirements
 relating to 'green energy' combined with high fossil fuel prices and carbon
 taxes make DynaMotive's BioOil a very attractive alternative fuel source. This
 fact, coupled with DynaMotive's leadership position in pyrolysis technology,
 provides a compelling case for a strong build-up of the technology in the
 European market."
     Peter Billins, Chief Executive of British BioGen, said: "We are delighted
 for this unequivocal statement of government support for bioenergy and our
 exciting new technologies. This is clear evidence that the future of
 sustainable energy lies in government and industry working in partnership to
 deliver real and practical solutions today. BioOil will not end the era of
 fossil fuels but it will become a significant addition to the energy mix of
 the future."
     Commenting on the announcement Jeremy Kinsman, Canada's High Commissioner
 to the UK, said: "I am delighted that leading-edge Canadian technology will be
 part of this exciting project. Renewable energies are clearly a vital
 component in meeting the challenges of sustainable development. The project
 underlines how Canadian and UK firms are responding to this challenge, and how
 great the opportunities are for technology-based collaboration between us."
 
     DynaMotive Technologies Corporation is an energy systems company that is
 a world leader in the development of technology to produce competitively
 priced BioOil liquid fuels from renewable and non-depleting biomass. As a
 clean fuel to replace natural gas, diesel and other fossil fuels to produce
 power and heat in industrial boilers, gas turbines and diesel engines, BioOil
 presents significant market opportunities that DynaMotive intends to exploit
 commercially. The Company and its partners are also engaged in research and
 development on a range of derivative products that, if successful, could
 potentially further enhance the market and value for BioOil as an alternative
 fuel and product source.
 
     Forward Looking Statement
     Statements in this news release concerning the company's business outlook
 or future economic performance; anticipated profitability, 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" as that term is defined under the
 Federal Securities Laws.
     Forward-looking statements are 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 and delays in product development plans and
 schedules, customer acceptance of new products, changes in pricing or other
 actions by competitors, patents owned by the Company and its competitors, and
 general economic conditions, as well as other risks detailed in the Company's
 filings with the Securities and Exchange Commission.
 
 

SOURCE DynaMotive Technologies Corporation
    LONDON, UK, April 2 /PRNewswire/ - DynaMotive Europe Limited, a wholly
 owned subsidiary of DynaMotive Technologies Corporation (OTCBB: DYMTF) and
 producer of clean burning BioOil fuels, today announced details of one of the
 UK Government's largest ever grants to support the development of energy from
 biomass in the UK. The pnds stlg 1.16 million/US $1.7 million grant from the
 Department of Trade & Industry (DTI), which was announced by the UK Energy
 Minister Peter Hain, will enable commercial production testing of an
 integrated BioOil and electricity generating plant to take place in the UK.
 The project is expected to cost in excess of pnds stlg 4.5 million/US $6.6
 million  and will be funded equally by the partners.
     The DTI grant has been made to Border Biofuels and its consortium
 partners DynaMotive Europe Limited and Orenda Aerospace Corporation to aid in
 the development of an integrated feedstock preparation, BioOil production and
 power generation plant in the UK. Border Biofuels plans to construct a 25-
 tonne/day facility utilizing DynaMotive Europe's patented fast pyrolysis
 technology to produce BioOil under a licensing agreement. The plant is
 expected to have a capacity to produce 12,000 litres of BioOil a day - enough
 to power a sawmill.
     When constructed, the plant will mark an important milestone in the
 development of BioOil, becoming the largest commercial production facility of
 its kind in the UK. Building on a successful long-term co-development program,
 the integrated plant will demonstrate the commercial viability of larger scale
 integrated BioOil and electricity production facilities using wood waste as a
 fuel.
     Peter Hain, UK Energy Minister, said: "I attach high priority to research
 and development of sustainable energy sources. Biomass is a key source of
 renewable energy and will be very important if we are to achieve our target of
 securing 10% of our electricity from renewable sources by 2010. I am delighted
 to announce this offer of government support for this exciting and innovative
 research project. The government is very committed to renewables and is
 introducing an obligation on electricity suppliers to supply a proportion of
 their electricity from renewable sources. It has also proposed a capital
 grants programme of pnds stlg 89 million for biomass and offshore wind."
     BioOil is produced using a patented fast pyrolysis technology that
 converts biomass into a liquid fuel. Unlike fossil fuels, BioOil is clean
 burning, low in emissions, greenhouse gas neutral and can be produced
 economically from renewable and non-depleting biomass such as timber, sawdust
 and sugar cane bagasse. It can be used as an alternative to fossil fuels to
 generate power and heat in boilers, gas turbines and diesel engines
     Dr. Adrian Bowles, Director of Border Biofuels, said: "We have long-term
 plans for the production of BioOil as a real alternative to fossil fuels to
 provide electricity in the UK. This testing and demonstration of an integrated
 facility will allow us to refine production techniques, ensuring that BioOil
 can be developed on this basis."
     Antony Robson, Managing Director of DynaMotive Europe, said: "We have
 responded proactively to the European market where regulatory requirements
 relating to 'green energy' combined with high fossil fuel prices and carbon
 taxes make DynaMotive's BioOil a very attractive alternative fuel source. This
 fact, coupled with DynaMotive's leadership position in pyrolysis technology,
 provides a compelling case for a strong build-up of the technology in the
 European market."
     Peter Billins, Chief Executive of British BioGen, said: "We are delighted
 for this unequivocal statement of government support for bioenergy and our
 exciting new technologies. This is clear evidence that the future of
 sustainable energy lies in government and industry working in partnership to
 deliver real and practical solutions today. BioOil will not end the era of
 fossil fuels but it will become a significant addition to the energy mix of
 the future."
     Commenting on the announcement Jeremy Kinsman, Canada's High Commissioner
 to the UK, said: "I am delighted that leading-edge Canadian technology will be
 part of this exciting project. Renewable energies are clearly a vital
 component in meeting the challenges of sustainable development. The project
 underlines how Canadian and UK firms are responding to this challenge, and how
 great the opportunities are for technology-based collaboration between us."
 
     DynaMotive Technologies Corporation is an energy systems company that is
 a world leader in the development of technology to produce competitively
 priced BioOil liquid fuels from renewable and non-depleting biomass. As a
 clean fuel to replace natural gas, diesel and other fossil fuels to produce
 power and heat in industrial boilers, gas turbines and diesel engines, BioOil
 presents significant market opportunities that DynaMotive intends to exploit
 commercially. The Company and its partners are also engaged in research and
 development on a range of derivative products that, if successful, could
 potentially further enhance the market and value for BioOil as an alternative
 fuel and product source.
 
     Forward Looking Statement
     Statements in this news release concerning the company's business outlook
 or future economic performance; anticipated profitability, 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" as that term is defined under the
 Federal Securities Laws.
     Forward-looking statements are 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 and delays in product development plans and
 schedules, customer acceptance of new products, changes in pricing or other
 actions by competitors, patents owned by the Company and its competitors, and
 general economic conditions, as well as other risks detailed in the Company's
 filings with the Securities and Exchange Commission.
 
 SOURCE DynaMotive Technologies Corporation