Canadian partner to advance its technology and develop Canadian projects
Raven Biofuels International Corporation (PINKSHEETS: RVBF) (“Raven” or the “Company”) is pleased to announce a Canadian partner to advance its technology and develop Canadian projects.
Raven Biofuels Ltd. (RBL) is a Canadian Corporation established to develop technologies for the production of biofuels and renewable chemicals in conjunction with the forestry sector and pursue Canadian opportunities in Bioenergy and Clean Technology. Under its proposed agreement with Raven Biofuels International Corp (RBIC) RBL will pay RBIC a fee to be negotiated for the exclusive rights to RBIC’s technology (“the technology”) for Canada. RBIC and RBL will jointly develop the technology through to commercialisation. RBIC has also contributed relationships and know-how for fibre supply and a proposed site to build the first commercial scale biorefinery in Kamloops, British Columbia, which will form a Joint Venture (JV) with the Kamploops Indian Band (KIB) to be called the Tk’emlúps Biorefinery. RBIC will further retain certain distribution and marketing rights to the products made from the proposed Canadian refinery, advisory fees and rights to participate in financing and as an equity partner. RBIC has loaned an initial $170,000 to RBL in conjunction with the Tk’emlúps Biorefinery JV to be used for initial studies, engineering and testing.
The proposed Tk’emlúps Biorefinery will require a continuous fibre supply of 500 dry tons per day in order to produce its initial output of 11 MGY (million gallons per year) of fuel grade ethanol and green chemicals as well as lignin. It is planned that The Kamloops Indian Band (KIB) will be the primary fibre supplier for the biorefinery. The biorefinery design will be scalable to increase output once capacity is reached. It is anticipated that the biorefinery will create up to 30 direct full-time jobs for the community of Kamloops and a number of other indirect jobs in the forestry and transportation sectors.
John Sams, President of RBIC, added that “Having a Canadian Partner will accelerate commercialization of Raven’s technology and ensure the success of the Tk’emlúps project. There are many attractive elements to the Canadian project that will be appropriately managed and operated from a local level. Having the right people on the ground is the key to success.”
The climate for Bioenergy in British Columbia is very proactive from the municipal level up to the Government. The BC Bioenergy Strategy has established $25 million in funding for a provincial Bioenergy Network for greater investment and innovation in B.C. bioenergy projects and technologies. Bioenergy is absolutely critical to achieving B.C.’s climate goals and economic objectives. It turns the challenges of the mountain pine beetle infestation into new opportunities and looks to future bioenergy technologies. The Provincial Government’s aim is for B.C. biofuel production to meet 50 per cent or more of the province’s renewable fuel requirements by 2020, which supports the reduction of greenhouse gas emissions from transportation. The Raven Tk’emlúps Biorefinery JV is one of the projects that could assist in meeting these goals for BC.
For more information on the BC Bioenergy Strategy please go to http://www.energyplan.gov.bc.ca/bioenergy/
or download the BC Bioenergy Plan document at http://www.llbc.leg.bc.ca/public/PubDocs/bcdocs/433631/BioEnergy_Plan_005_0130_web0000.pdf
About Raven Biofuels International Corporation (PINKSHEETS: RVBF)
Raven Biofuels is a clean energy technology company focused on developing technologies to produce transportation fuels and green chemicals from waste or biomass. Raven plans to build integrated biorefineries using proprietary technology.
Notice Regarding Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the ability of Raven Biofuels International Corporation (“Raven” or the “Company”) to construct any ethanol plants or proceed with the commercialization of its technology or that it will be able to exploit, develop, acquire, finance, operate, or make profitable, any of the commercial opportunities discussed or described herein. These forward-looking statements are not historical facts and can be identified by the use of forward-looking words or phraseology such as “believes,” “expects,” “may,” “intends,” “anticipates,” “plans,” “estimates,” and analogous or similar other expressions intended to identify such forward-looking statements. Actual results could differ materially from those reflected in such forward-looking statements. Raven and its principals will not assume any obligation to update any of the forward-looking statements to reflect any events, facts, or circumstances that may arise other than as may be required by applicable law or regulation.
For more information:
Raven Biofuels International Corporation