Syntec Biofuel Says Near Record Corn Prices Boosting Interest in Its Waste Biomass to Ethanol Process
27 Fevereiro 2008 - 5:48PM
Marketwired
VANCOUVER, BRITISH COLUMBIA , a biofuel technology company
converting biomass into ethanol and other alcohols, reported today
that inquiries relating to its catalyst technologies have risen
sharply.
Michael Jackson, President/Chairman of Syntec Biofuel Inc., "We
are experiencing an unusual level of inquiries concerning our
proprietary catalyst technology. We are attributing it to
increasing interest in thermo-chemical Fischer-Tropsch based
biomass to biofuel technologies over corn ethanol processes due to
the rapidly changing economics of corn as a feedstock."
"Record corn prices are creating worldwide debate over the use
of food stock as feedstock for fuel. From cost comparison models
based on USDA data with the price at $4.98 a bushel - well below
current prices - Syntec's process has edged firmly ahead in
competitiveness over corn fermentation methods."
"The cost of corn today at $5.20 a bushel is making corn ethanol
production only marginally profitable at their estimated production
levels of 92 gpt. That is a conservative figure for us as we have
already achieved 105 gallons with the potential for us to further
increase yields up to 150 gpt. The equivalent cost of biomass
feedstock based on a bushel of wood waste is approx. $1.00. We have
therefore concluded that the cost of corn feedstock per gallon of
alcohol is $1.89 whereas cost of biomass feedstock per gallon of
alcohol is $0.33."
"Using food stock such as corn, sugar and/or wheat to produce
ethanol is creating major negative impacts as more and more farmers
are switching from food production to ethanol feedstock production.
This has resulted in significant increases in the price of certain
food products such as corn syrup, animal feed, and corn flour for
tortillas. The switch is also contributing to the detriment of
other crops, rising food costs and inflation as well as
monopolizing farmland and is contributing to global food shortages.
Using food as a fuel source is not a practical long-term
solution."
"It is important to remember," continued Jackson, "that the
Syntec technology can use a wide variety of cheap, waste biomass
without any impact on food supply."
ABOUT THE SYNTEC PROCESS
Syntec Biofuel is a leading technology company with proprietary
catalysts and processes that produce ethanol, methanol and higher
order alcohols from a wide variety of waste biomass and/or biogas.
Based in Vancouver, Canada, this cellulosic ethanol process reduces
lifecycle GHG emissions by approx. 90% and does not use valuable
food stock such as corn, wheat, sugar or vegetable oils.
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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are difficult to assess. You should not construe any of these
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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
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reports on Forms 10-K, 10-Q and 8-K. Except as required under the
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we do not have any intention or obligation to update publicly any
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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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