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ZeaChem and GWR Make Feed Stock Deal

February 12, 2008 | Post Your Comment

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Lakewodd, Colorado [RenewableEnergyAccess.com] ZeaChem, Inc. and GreenWood Resources, Inc. (GWR), have announced the signing of a non-binding Letter of Intent for the supply of poplar tree feed stock to support the operation of an initial 1.5 million gallon per year ZeaChem cellulosic bio-refinery. Additionally, ZeaChem and GWR have agreed to explore increasing the scope of the relationship to accommodate additional capacity at the site.

"It allows GreenWood to benefit from the development of the growing market demand for cellulosic-based chemicals and ethanol, while providing ZeaChem with a dedicated long-term cellulosic feed stock source from the leader in intensively-managed hybrid poplar trees for our planned initial 1.5 million GPY Bio-Refinery and other future sites."

--James Imbler, President and CEO, ZeaChem

ZeaChem will be responsible for financing, constructing and operating the plant. GWR will supply the feed stocks. The plant will be located at the Port of Morrow in Oregon. Initial engineering for the site has already begun.

"Today's announcement is a win-win for both companies. It allows GreenWood to benefit from the development of the growing market demand for cellulosic-based chemicals and ethanol, while providing ZeaChem with a dedicated long-term cellulosic feed stock source from the leader in intensively-managed hybrid poplar trees for our planned initial 1.5 million GPY Bio-Refinery and other future sites," said James Imbler, president and CEO of ZeaChem.

Bioenergy

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