| APPOINTMENT OF NEW BOARD MEMBERS & UPDATE ON
YIELD CONVERSION.
Nov 20, 2007 - Syntec Biofuel (Symbol -
SYBF) is pleased to announce the appointment of Dr. George
Kosanovich to the company’s Board of Directors effective today,
November 20, 2007. Currently serving as the company’s Chief
Executive Officer, Dr. Kosanovich has amassed a breadth of
industry experience relating directly to the procurement of
biofuels from biomass through his work as consultant to Canadian
forestry companies. Building on a foundation of 23 years with
OxyChem focusing mainly on the creation and growth of business
ventures, Dr Kosanovich has also successfully lead three
different entities including two publicly traded companies,
notably increasing these company revenues as well as overall
growth. With a Ph.D. in chemical engineering, Dr. Kosanovich
also attended the PMD program at the Harvard University School
of Business.
This appointment immediately follows the promotion of company
CFO Janet Cheng to Syntec’s Board of Directors, which took place
on November 8, 2007. Currently acting CFO, Ms. Cheng rounds-off
the Syntec Board of Directors with her recognized background in
accounting and corporate finance. A certified public accountant,
she has contributed to the success of both public and private
companies through her adept management of fiscal risk and
reporting. Ms. Cheng continues to oversee the finances of Syntec
Biofuel Inc. and it’s wholly owned-subsidiaries.
Originating from research and development in the labs of the
University of British Columbia over six years ago, Syntec has
advanced this work consistently improving results and is
currently achieving yields in excess of 73 gallons per ton of
biomass (gpt). The company anticipates achieving their target of
113 gpt within the next 9-12 months. Syntec continues to
optimize their proprietary catalytic technology, which at 73 gpt
is already considered economically viable.
Syntec Biofuel's technology focuses on 2nd generation ethanol
production deriving alcohols from cellulosic material. The
process entails the gasification of biomass (renewable and waste
feed stocks such as wood waste, switch grass, agricultural waste
from current ethanol producers e.g. corn stover and sugar
bagasse) to produce Syngas which is then converted by the Syntec
catalysts, in a fixed bed reactor, to alcohol (ethanol, butanol,
propynol and methanol). The Syntec process will generate
substantially more greenhouse gas reduction, and carbon credits
than the fermentation process.
For more information on Syntec Biofuel Inc, a Washington State
Company with headquarters in Vancouver, Canada, please contact
info@syntecbiofuel.com. Syntec trades on the OTC.B.B. under the
symbol ‘SYBF’ or call 604-648-2092.
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. Statements that
contain words like "expects," "anticipates," "targets," "goals,"
"projects," "intends," "plans," "believes," "seeks," "estimates"
or variations of such words and similar expressions are
forward-looking statements. Since they relate to future
developments, results or events, 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. Actual outcomes and results
may differ materially from what is expressed or forecasted in
such forward- looking statements. 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. 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. |