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Dynamotive and Genting BioOil extend MOU

Canada-based Dynamotive and Genting Bio-Oil Sdn Bhd (GBO) of Malaysia have extended their August 2011 memorandum of understanding (MOU) through December 2012.

In August 2011, the MOU was developed to explore the cooperation for the development of pyrolysis oil market in the South East Asia Region for a period of six months. The MOU has allowed both firms to evaluate pyrolysis oil production and development potential in South East Asia, study Empty Fruit Bunches (EFBs) as a feedstock, and begin exploring a collaborative business model to develop a strong leadership position in the sector.

The extension will allow both parties to consolidate their cooperation, and subject to successfully meeting the established objectives, the parties enter into definitive commercial agreements.

GBO is an indirect subsidiary of Genting Berhad. GBO supports the development and production of bio-oil from empty fruit bunches, a waste material of the palm oil industry, using pyrolysis technology.

Dynamotive Energy Systems Corporation’s fast pyrolysis technology uses medium temperatures and oxygen-less conditions to turn dry, waste cellulosic biomass into BioOil for power and heat generation. BioOil can be further converted into vehicle fuels and chemicals.

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