Dynamotive Establishes First Resources Corporation to Develop Partnerships with First Nations People in Canada
April 17, 2007
VANCOUVER, British Columbia — Dynamotive Energy Systems Corporation (OTCBB:DYMTF), a leader in biomass-to-biofuel technology and products based on its advanced fast pyrolysis process, announced it has launched a major initiative to work with First Nations communities in Canada.
Dynamotive has established a new subsidiary, First Resources Corporation, to develop ethical, environmental and social solutions by joining First Nations’ heritage and values with leading-edge technology. It is the culmination of more than two years of joint work with First Nations led by Johnna Sparrow Crawford of the Musqueam Band in British Columbia, who joins the Board of the newly established subsidiary and as spokesperson for the Company. The Company’s management team is led by Caroline Forester as Manager First Nations Business Development.Dynamotive President and CEO Andrew Kingston said, “Dynamotive is fully committed to developing relationships and substantial projects with First Nations and extending our activities to other aboriginal communities in the Americas.
“We want to be part of the drive towards sustainability and we believe that, through interacting with the very people whose oldest values in life have been to respect and live in harmony with the resources offered by Mother Earth, we will be able to better achieve this objective. It has been a pleasure to work with Mrs. Sparrow Crawford and I would like to thank her and all who have supported this development over the past two years.”
First Resources’ Director, Johnna Sparrow Crawford, said, “I am very proud and excited to be part of a company that is pledged to helping to bring economic prosperity, positive environmental change and a leading-edge technology to native communities throughout Canada.
“This is a wonderful opportunity to demonstrate to the world that given the chance, First Nations people, ‘the original stewards of this land,’ can be full partners in helping re-dress the imbalance to the environment that has been wrought by excessive industrialization, and thus help ensure that future generations are not blighted by it.”
Forester said First Resources has already started working with First Nations communities in Western Canada. “We are in discussions with a number of them and have outlined projects that we believe have significant potential based on locally based wood waste resources.”
Canada has over a billion acres of forest that represents nearly 10% of the world’s forests. The majority is publicly owned. About 80% of First Nations are located within commercial forest areas.
In the US, the Bureau of Indian Affairs (BIA) is responsible for the administration and management of 55.7 million acres of land held in trust by the United States for American Indians, Indian tribes, and Alaska Natives. There are 561 federally recognized tribal governments in the United States. Developing forestlands, leasing assets on these lands, directing agricultural programs, protecting water and land rights, developing and maintaining infrastructure and economic development are all part of the agency’s responsibilities.
BioOil produces substantially less smog-precursor nitrogen oxides (“NOx”) emissions than conventional oil as well as little or no sulfur oxide gases (“SOx”), which is a prime cause of acid rain. BioOil and Intermediate BioOil are price-competitive replacements for heating oils #2 and #6, which are widely used in industrial boilers and furnaces. They have been EcoLogo certified, having met stringent environmental criteria for industrial fuels as measured by Environment Canada’s Environmental Choice Program.
Dynamotive Energy Systems Corporation is an energy solutions provider headquartered in Vancouver, Canada, with offices in the USA, UK and Argentina. Its carbon/greenhouse gas neutral 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. Construction progress at the new Guelph plant may be seen by viewing photographs regularly posted on the company’s website at www.dynamotive.com.
Statements in this news release concerning the company’s business outlook or future economic performance; including the anticipation of future plant start-ups, partnerships, consortiums, teaming agreements, government assistance, other anticipated cash receipts, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements.” Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to, changes in energy prices, availability of capital, and the Company’s ability to access capital on acceptable terms or any terms at all, changes and delays in project development plans and schedules, customer and partner acceptance of new projects, changes in input pricing, competing alternative energy technologies, government policies and general economic conditions. These risks are generally outlined in the Company’s disclosure filings with the Securities and Exchange Commission.
Dynamotive Energy Systems Corporation
Executive Director, Communications and Investor Relations
Nigel Horsley, 604-267-6028
Nathan Neumer, 604-267-6042
Toll Free (North America): 877-863-2268