In the company’s news yesterday,
Dynamotive Energy Systems Corp. announced a commercial agreement centralized on its pyrolysis technology, which will allow for the construction of the company’s first plant outside Canada.
“The first project in China marks an important milestone for our company,” Dynamotive Energy’s Chairman Richard Lin stated in the press release. “China’s economic development is in the world’s spotlight, and energy security and environmental protection are two major global concerns. As a leader in the bio-fuel industry, Dynamotive uses its patented technology to convert agricultural residues into valuable and clean renewable energy. The process makes use of non-food resources and creates no competition for land with food crops.”
The agreement will support the development of Dynamotive’s pyrolysis plant in the Henan province in the People’s Republic of China. Per the agreement, Dynamotive will provide the necessary process and engineering, as well as US$2.3 million in technical support.
Hubei Xinda Bio-oil Technology Co. Ltd. will develop the plant, working in collaboration with Great China New Energy Technology Services Co. Ltd. (GCNETS), the exclusive licensor for Dynamotive’s technology in the People’s Republic of China. According to the press release, more than 900,000 tons of feedstock for BioOil production have been secured, which will supply 10 plants in the first stage of development for the Henan plant. The commercial agreement obligates GCNETS to develop 15 plants within five years; the costs for each plant are at least US$1 million.
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