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12 October 2006 -- Intrinergy, a U.S.-based company specializing in renewable forms of energy, completed the acquisition of its joint-venture partner's interest in Valorbois, a permitted renewable energy project in Belgium, and will shortly begin construction of the facility.
Once constructed, the facility will gasify wood to generate up to 4 MW of electricity and 12 MW (approximately 41 MMBTUs per hour) of thermal energy. The power will be sold to a major utility, and the generated heat will be used by a wood pellet manufacturer co-located with the facility.
Under the initial joint venture agreement, Intrinergy's partners, CERT Environnement of France, successfully permitted and planned the facility, and Intrinergy provided capital, detailed engineering, technology selection and the management and operating team. As of Oct. 2, 2006, Intrinergy completed the final purchase of the interests of its partners and owns the facility outright.
The facility is expected to have 10 employees and is intended to operate 24 hours a day, seven days a week. The project is permitted by the Walloon Region, and preliminary site work has been completed. Detailed design of the facility is well underway, and construction is scheduled to start in early 2007. The facility is expected to be operational in the second half of 2007.
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