|By Marketwired .||
|December 20, 2007 02:00 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 12/20/07 -- Syntec Biofuel Inc. (OTCBB: SYBF) is pleased with the passing of US Bill H.R. 6: Renewable Fuels, Consumer Protection, and Energy Efficiency Act of 2007, because Syntec's technology is positioned to take advantage of this legislation. Signed into law by President George W. Bush yesterday, December 19, 2007, the bill represents a major step forward in reducing America's dependence on oil. Other benefits of the bill include increased vehicle fuel efficiency (from the current 25 miles per gallon legislated in 1975, to 35 miles per gallon by 2020), and greater national implementation of biofuels with two-thirds to be cellulosic ethanol from renewable feedstock such as prairie grass and wood chips.
Calling for an increase of ethanol usage to 36-billion gallons per year by 2022, from the current 6-billion gallons, the bill encourages the diversification of ethanol production. Using cellulosic feedstock rather than corn, wheat, or sugar, the Syntec process can efficiently convert carbon-based matter into ethanol and other valuable higher alcohols.
Initially researched and developed in the labs at the University of British Columbia since 2001, the Syntec catalysts are focused on second-generation cellulosic ethanol production. The Syntec process is very simple. Renewable waste Biomass such as hard and soft wood, sawdust and/or bark, organic waste, agricultural waste (including sugar bagasse and corn stover), switch-grass and virtually any other type of cellulosic material is fed into a gasifier which produces syngas. This syngas, which comprises approximately 40% carbon monoxide and 40% hydrogen, is then scrubbed clean and passed through a fixed bed reactor containing the Syntec catalysts to produce ethanol and other alcohols. The Syntec technology can also produce ethanol and methanol from biogas (sourced from anaerobic digestion of manure and effluent) as well as from landfill gas and stranded methane.
For information on Syntec Biofuel Inc., a Washington State Company, please contact [email protected] or call 604-688-3836.
This press release contains statements about future performance, events or developments, which are also known as "forward-looking statements". Forward-looking statements are based on current expectations, estimates, forecasts and projections about us, our future performance and the industries in which we operate as well as on our management's assumptions and beliefs. These statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. For a description of these and some other risks and uncertainties, you should read the reports we have filed with the Securities and Exchange Commission, including periodic reports on Forms 10-K, 10-Q and 8-K. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements we make, even if new information, future events, changes in assumptions or any other reason would alter those statements. Furthermore, we urge you not to invest in our company if in the event the company failed your investment loss would affect your living standards.
Syntec Biofuel Inc.
(604) 648-2091 (FAX)
Email: [email protected]
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