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VANCOUVER, B.C., Aug. 28, 2002 -- DynaMotive Energy Systems Corp. and Ontario Power Generation (OPG) announced recently they have entered a non-exclusive Memorandum of Understanding (MOU) for the development of EcoLogo(M)-Certified green power projects, using DynaMotive's BioTherm™ process.
OPG is the largest supplier of green power in Ontario, where the wholesale and retail electricity markets were opened to competition last May 1. OPG markets its green power under the Evergreen™ brand name directly to commercial and industrial customers and to energy retailers.
The existing portfolio consists of wind, small hydro, biomass, and some solar. OPG is committed to growing the supply of green power in line with market demand. This MOU outlines opportunities for growing the portfolio of green power projects.
"We are keen on adding to our green power portfolio and this agreement with DynaMotive provides another innovative way to increase the amount of environmentally friendly electricity available to our customers," said Graham L. Brown, General Manager of OPG Evergreen Energy.
Andrew Kingston, President and CEO of DynaMotive, which is based in Vancouver, B.C., said: "We look forward to working with OPG as their market presence and commitment to green power generation complements our development strategy. Furthermore, with our combined resources, DynaMotive's ability to efficiently develop renewable energy projects in North America is significantly enhanced."
Ontario Power Generation is an Ontario based company, whose principal business is the generation and sale of electricity to customers in Ontario and to interconnected markets.
OPG's goal is to be a major North American energy company, while operating in a safe, open and environmentally responsible manner. Their focus is on producing reliable electricity from our competitive generation assets; power trading; and commercial energy sales activities.
DynaMotive's patented fast pyrolysis system (BioTherm) converts biomass to liquid fuel (BioOil). Through the application of its technology and know-how, the Company intends to tap into abundant organic resources that are generally discarded by the agricultural and forest industries at a cost, and economically convert them into renewable and environmental friendly fuels.
Biomass examples include forestry residues such as wood and bark, and agricultural residues such as sugar cane bagasse, corn stover and wheat straw. DynaMotive has successfully converted each of these residues, which are available worldwide, into BioOil, making them a renewable and environmentally friendly energy source.
For more information on Ontario Power Generation, visit www.opg.com
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