In a big step forward for a Canadian biofuels co-generation project, Vancouver-based DynaMotive Energy Systems Corporation was selected to receive a CDN$5 million (US$3.7 million) contribution from Sustainable Development Technology Canada (SDTC) for development of West Lorne BioOil Cogeneration Project.British Columbia, Canada – March 22, 2004 [SolarAccess.com] The agreement provides for a non-refundable CDN$5 Million contribution towards the development of a BioOil fueled 2.5 MW cogeneration plant to be located at the Erie Flooring and Wood Products facility in West Lorne, Ontario. The overall cost of the project is budgeted at CDN$12.5 Million (US$9.37 million). “Canada has tremendous capacity for clean technology innovation, and DynaMotive’s project consortium has shown us this potential,” said the Honourable R. John Efford, Minister of Natural Resources Canada. “By using our knowledge, innovation, technology and international leadership, the Government of Canada is ensuring that Canada remains at the forefront of climate change solutions – promoting the sustainable development of our natural resources.” Once operational, the DynaMotive BioOil/Orenda 2.5 MW turbine system will produce green power, displacing brown energy from the grid and generate greenhouse gas offsets. DynaMotive’s efforts are focused on the development of energy solutions based on the company’s patented fast pyrolysis system. Through the application of fast pyrolysis, DynaMotive said they have 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. The company claims they have 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. “Working together to develop and showcase Canadian cleaner-energy technologies is essential to reaching our climate change and clean air targets while maintaining a strong and growing economy,” said the Honourable David Anderson, Minister of the Environment. “Cogeneration using bio-based fuels offers tremendous environmental and economic potential, and I congratulate all the partners involved in this innovative project.” “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.