Syntec Biofuel Disturbed by Headlines in Wall Street Journal: "US Biofuel Boom Running on Empty"
August 28 2009 - 9:00AM
Marketwired
Syntec Biofuel Inc.'s (OTCBB: SYBF) CEO Michael Jackson addressed
the front page headlines in yesterday's WSJ "US BIOFUEL BOOM
RUNNING ON EMPTY". Jackson is concerned with the impression given
out by the media that all Biofuel technologies are equal, which is
not true.
As a quick lesson Jackson explains, "Biodiesel is typically made
from edible oils such as soy, canola, palm etc. which have impact
on food and Biodiesel pricing as commodity prices increase. Ethanol
has historically been produced from sugarcane and corn via
fermentation, again with ethical issues around food and land.
Ethanol can also be produced by converting cellulosic biomass into
sugars followed by fermentation. Syntec Biofuel's technology is
based on a simple thermo-chemical process which gasifies
sustainable, low cost MSW, wood and agricultural waste and produces
a syngas which is reacted with Syntec's patent pending Catalysts to
produce not only Ethanol but biomethanol and other high value
alcohols such as propanol and butanol. We are confident that,
having the ability to produce 4 alcohols at under 88c a gallon, we
can hedge against the vagaries of biofuel price fluctuations." Mr.
Jackson believes that 2nd generation thermo-chemical technology is
the wave of the future as it is ethically, economically and
ecologically superior. Syntec expects to commercialize their
technology in 2010.
About Syntec Biofuel: Syntec Biofuel is a Washington State
corporation, based in Vancouver, British Columbia, Canada.
www.syntecbiofuel.com
Forward Looking Statements
This press release contains forward-looking statements that are
subject to certain risks and uncertainties. Although we believe
that the expectations reflected in any of our forward-looking
statements are reasonable, actual results could differ materially
from those projected or assumed. We caution potential investors not
to invest until they have done proper due diligence. Some of the
risks and uncertainties include: our ability to achieve
commercialization, the social, political and economic risks of our
operations; changes to existing regulations or technical standards;
existing and future litigation; our ability to protect our
intellectual property rights and exposure to infringement claims by
others; and compliance with environmental, health and safety laws.
Our future financial condition and results of operations, as well
as any forward-looking statements are subject to change and
inherent risk and uncertainties. Other important factors that may
cause actual results to differ materially from those expressed in
forward-looking statements are contained periodic reports on Forms
10-K, 10-Q and 8-K as filed with the Securities and Exchange
Commission.
Contacts: Syntec Biofuel Inc. Nancy Ross (604) 648-2092 (604)
648-2091 (FAX) nancy@syntecbiofuel.com www.syntecbiofuel.com
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