| SYNTEC TO DEVELOP CATALYSTS TO PRODUCE BUTANOL AND PROPANOL FROM BIOMASS AND MSW.
Vancouver, Canada - 20th November 20th, 2008 - Syntec Biofuel Inc (OTC.B.B. 'SYBF') announced today it is launching a research program to develop catalysts and processes to produce Bio-butanol and Bio-propanol from biomass.
This new R&D initiative is projected to be a 3 year program and will run in parallel with Syntec's catalyst development. The company will be seeking strategic financial partners to support the estimated costs of US$2,500,000.
Syntec has, since 2001, successfully developed catalysts to convert biomass and MSW into ethanol, methanol and higher order alcohols; currently, boasting one of the highest yields in the world (110 gpt). Syntec is one of a small handful of companies around the world specializing in thermo-chemical biofuel technology.
Butanol is considered by many industry experts to be one of the most promising biofuels, as endorsed by the research initiative commenced between BP and DuPont. Currently, butanol is used as a solvent and as a chemical intermediate in thousands of consumer products and sells for in excess of $5 per gallon.
Propanol plays an important role as a solvent in the plastics & polymers, pharmaceutical, paint and cosmetic industries. It is also used as a carrier and extraction solvent for wide range of natural products and sells for in excess of $5 per gallon.
'Currently, almost all butanol and propanol in the world is derived from fossil fuels,' explained Syntec CEO Michael Jackson. 'The commercialization of Bio-butanol and Bio-propanol will effectively reduce the carbon footprints of many major industries.'
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