Dynamotive to Develop $105 M Biofuel Complexes for Rural Argentina

Dynamotive Energy Systems Corporation, a leader in biomass-to-biofuel technology, and its subsidiary Dynamotive Latinoamericana S.A. announced yesterday they have submitted documents to the government detailing plans to invest approximately $105 million to develop two self-contained biofuel-to-electricity complexes in Corrientes, Argentina.

Each complex will be comprised of a 15.7-megawatt electricity-generating station powered by the majority of the fuel output of two 200-ton-per-day modular plants producing BioOil biofuel from wood waste and residues from nearby forests and other biomass residue.

Excess BioOil produced at these facilities will be sold into commercial and industrial fuel markets.

The company said the projects will proceed once existing 10-year agreements-in-principle are finalized for the needed supply and cost of the biomass raw materials, and for the pricing structure of the electricity to be produced and transmitted to nearby industry and communities from the complexes.

Other similar projects are being planned for additional locations in Corrientes, and elsewhere in Latin America, Dynamotive said.

Development and construction of the complexes will be implemented by Dynamotive, jointly with TECNA, an Argentinean engineering firm, and financing will be provided by a group of banks and other private sources.

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