Company Secures Biomass Stockpiles

DynaMotive Energy Systems Corporation has secured its first option on biomass stockpiles.

Vancouver, British Columbia – February 18, 2003 [SolarAccess.com] DynaMotive announced it signed an option for 500,000 tons of wood residue with L&M Wood Products of Saskatchewan. Fully-processed, the site should yield up to 2,140,000 barrels of BioOil (or 1,150,000 barrels of oil equivalent). BioOil is a green house gas (GHG) neutral fuel that can effectively displace natural gas, diesel and heavy fuel in heat and power applications. The wood residue is currently disposed of in land fills and is a source of methane emissions, a gas that contributes to the green house gas effect. The combination of methane emissions reduction and the potential to displace fossil fuels in heat and power applications provides a unique opportunity to maximize the environmental benefits to the Province of Saskatchewan and enhance GHG credit potential of the reserve. The biomass stockpile would also yield significant carbon dioxide, sulfur dioxide and nitrogen oxide credits. DynaMotive estimates that 325,000 tons of CO2e (carbon dioxide equivalents) credits will be generated from the biomass if the BioOil produced is utilized to displace natural gas. Substantially more CO2e credits would be generated if the BioOil displaces diesel, bunker oil or coal. Saskatchewan has significant biomass stockpiles. Currently 3.9 million tons are estimated to be in landfills. If processed, the land filled residue could yield 9 million BOE and 2.5 million tons of green house gas credits. Furthermore it is estimated that a residue excess of over half a million tons per annum is being produced (1.15 millions BOE potential per annum and 325,000 tons of GHG credits). The conversion of these residues into a usable fuel would contribute significantly to the Province and Federal Government’s emission reductions targets established under the Kyoto Protocol. The Kyoto Protocol establishes market based mechanisms that allow for emissions trading such as the Clean Development Mechanism, Joint Implementation Program and International Emissions Trading. It is estimated that the international carbon market could grow into a US$10 billion market in the next 8 years, creating considerable growth potential domestically and internationally for DynaMotive’s technology.
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