DynaMotive Energy Systems Corporation (OTCBB:DYMTF) is receiving a CDN$5 Million contribution from Sustainable Development Technology Canada (SDTC) to develop its West Lorne BioOil Cogeneration Project.
The project is a biooil fueled 2.5 MW cogeneration plant at a cost of CDN$12.5 Million.
The plant will validate the integrated technology capabilities of DynaMotive Energy Systems Corporation (BioOil production) and Magellan Aerospace Corporation-Orenda division (BioOil fueled 2.5 MW turbine).
Other partners in the project are Ontario Power Generation, Erie Flooring and Wood Products, Bruks-Klockner Inc., Ramsay Machine Works Ltd. and UMA Engineering.
"SDTC selects and supports projects that will have the highest likelihood of success. Our extensive review of the West Lorne BioOil Cogeneration Project demonstrated excellence in sustainable development innovation and environmental performance. We were also impressed with its bio fuel technology and its strong capacity to attain market entry," said Dr. Vicky J. Sharpe, President and CEO, SDTC.
SDTC is a $350M foundation established by the Government of Canada through the Departments of Natural Resources Canada and Environment Canada to further the development and demonstration of innovative technology solutions to reduce greenhouse gas emissions and improve air quality. SDTC operates as an arm's-length, not-for-profit corporation from Government and acts as primary catalyst to build sustainable development technology infrastructure in Canada.
Orenda is a division of Magellan Aerospace Corporation and is a recognized leader in the aerospace industry. Orenda has an established reputation in power and propulsion technologies, with core competencies in gas turbine engine repair and overhaul, component manufacturing for turbine OEMs, industrial power packages and advanced energy systems.
DynaMotive is an energy systems company that is focused on the development of innovative energy solutions based on its patented fast pyrolysis system. Through the application of fast pyrolysis, DynaMotive has shown how to unlock the natural energy found in the world's abundant organic resources that have been traditionally discarded by the agricultural and forest industries and to economically convert them into a renewable and environmentally friendly fuel. DynaMotive has successfully demonstrated conversion of these residues into fuel known as BioOil, as well as char and in doing so establishing these residues as a renewable, environmentally friendly and cost competitive energy reserve.
Loading...