Syntec Biofuel Says Nestle Chief’s Warning in Food-For-Fuel Debate Will Heighten Interest in Cellulosic Biofuels
VANCOUVER, BRITISH COLUMBIA–( EMWNews – April 1, 2008) – Syntec Biofuel Inc.’s (OTCBB:SYBF) President and Chairman, Michael Jackson, addressed comments made recently by Nestle’s chief executive Peter Brabeck, warning that the food industry will need to fight the biofuels industry for arable land. Jackson stated that Mr. Brabeck’s comments further illustrate the importance of thermo-chemical biofuel solutions based on the utilization of sustainable waste biomass.
Jackson said, “This is fast becoming a bitter debate with battle lines being drawn amidst a great deal of misconception. Syntec’s thermo-chemical technology has zero impact on food supplies or on arable land use, as it only uses waste biomass such as wood chips, sawdust, bark, agricultural waste, corn stover, wheat straw, etc. to produce its biofuels.
“For years, corn was cheap and fermentation processes for ethanol production came to completely dominate the biofuel industry in North America.
“Now, with corn prices well over $5 a bushel, corn ethanol economics have gone out of the window as the costs per gallon are anywhere between $1.50 and $1.90, whereas biomass derived alcohols will be in the 30 cent range.”
Syntec Biofuel utilizes a thermo-chemical process to convert low cost waste biomass into biofuels without any impact on food crops or arable land usage at all. The company has achieved a yield of 105 gallons of alcohol per dry ton with its proprietary catalysts – one of the highest yields in the world at this time.
“In the U.K., the largest capital market in the world, ethanol is getting a bad rap because of its association with food crops such as corn and wheat,” continued Jackson. “The majority of investment specialists do not realize there is a viable economic alternative to fermentation that has no adverse food production impacts.”
About Syntec Biofuel
Syntec Biofuel is a Washington State corporation, based in British Columbia, Canada. The company is a leading developer of proprietary catalysts to convert biomass into bio-alcohols. Syntec’s “B2A” (Biomass to Alcohols) process utilizes innovative technology to produce ethanol via thermo-chemical synthesis. The company does not use food crops like corn, but instead uses waste biomass or biogas, such as wood chips, corn stover, municipal waste, and landfill gas to produce ethanol. The company’s business model is to license out its technology, develop JV partnerships, and generate revenue from the sale of catalysts. More information is available online at www.syntecbiofuel.com.
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