Dynamotive Contracts Biomass for First Two Projects in Argentina

by Dave

Opportunity to work with Argentine provincial governments

via BusinessWire
Dynamotive Energy Systems Corporation (OTCBB: DYMTF), a leader in biomass-to-biofuel technology, and its subsidiary Dynamotive Latinoamericana S.A., are pleased to announce the execution of contracts for the provision of biomass for two of its proposed plants in the Province of Corrientes in Argentina. The Company further disclosed that it has identified, and has been offered, a site for the project within the Municipality of Virasoro. Negotiations in regard to the site are progressing and are expected to be completed in the near term.

The signing of the biomass supply contract follows months of cooperative work with the Town of Virasoro which has been instrumental in attracting Dynamotive to the region. This represents a key step in the progress toward the development of the project announced in May, 2007.

The contract envisages the delivery by the Municipality of Virasoro of 250,000 wet tonnes (approx. 150,000 dry tonnes) of biomass (sawdust and other forestry operations residues) per year for 10 years.