Dynamotive Energy Systems Corporation (OTC:DYMTF) has released the third quarter earnings for 2009. The company’s quarter losses decreased from $2.8 million from the 2008 third quarter to $1.1 million for the quarter ended September 30, 2009. Total non-cash expenses for the quarter are $0.2 million in 2009 and $0.8 million for the nine months ended.
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The company hosted a conference call to review the financial results. A webcast of the call is available online at www.visualwebcaster.com/event.asp?id=64618. The financial results in its entirety will also be available on the company’s website, http://www.dynamotive.com/.
DynaMotive Energy Systems Corporation (DynaMotive) is engaged in the development and commercialization of technology for biomass-to-liquid fuel conversion using a process called Fast Pyrolysis. The Company’s Fast Pyrolysis process converts raw forest and agricultural biomass residues, such as sawdust, sugar cane bagasse, rice husks and wheat straw, amongst others, into three fuel types: liquid (BioOil), solid (char) and gas (non-condensable gases). The non-condensable gases are used to fuel the pyrolysis process, and char, which is similar to coal, is a re-useable green fuel. The Company and its partners are also engaged in research and development on a range of derivative products. As of December 31, 2008, the Company had six wholly owned subsidiaries: Dynamotive Canada Inc., Dynamotive USA Inc., Dynamotive Latinoamericana S.A., First Resources Corporation, Dynamotive Biomass Resource Corporation and Dynamotive Europe Limited.
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