|By PR Newswire||
|January 17, 2014 06:00 AM EST||
VANCOUVER, Jan. 17, 2014 /CNW/ - Lignol Energy Corporation (TSXV: LEC) ("LEC" or the "Company") today announced that Territory Biofuels Limited ("TBF") has recently received International Sustainability and Carbon Certification ("ISCC") and US Environmental Protection Agency ("EPA") approval as a Renewable Identification Number ("RIN")-generating foreign producer for its Darwin biodiesel plant, paving the way for exports to markets in Europe and the US.
"These approvals are critical achievements for the restart of profitable operations for our Darwin plant. The ability to sell the output of up to 140 million litres per year into multiple global markets with these certifications in hand substantially enhances the long term economic sustainability of this world scale project", said Ross MacLachlan, Chairman and CEO of LEC.
The ISCC process involved TBF formalizing its Management Systems Review which covers a broad range of operating activities including track and trace feedstock management, training and reporting. A detailed lifecycle analysis of greenhouse gas emissions was also undertaken to confirm the Darwin project's compliance with ISCC requirements. The certification allows TBF to process approved ISCC feedstocks into ISCC approved biodiesel that can be sold at a premium into the European market. More information on the European ISCC program can be found at: http://www.iscc-system.org/en/
The US EPA has confirmed that TBF's facility has met the requirements to be a RIN foreign producer generator. The approvals required the submission of a detailed independent engineering review that covered the technology, construction, capacity, emissions and product quality of the facility. In addition, TBF's storage and independent testing contractors have been approved. The approval allows TBF to manufacture biodiesel from approved feedstocks and generate a RIN which enables the biodiesel to be sold competitively in the USA market. The facility also qualifies as a "grandfathered" plant which provides TBF an additional opportunity to generate a RIN from palm oil based biodiesel. More information on the US EPA Renewable Fuel Standard program can be found at: http://www.epa.gov/otaq/fuels/renewablefuels/index.htm
LEC recently announced it has agreed to acquire all of the outstanding and issued ordinary shares of TBF, thereby increasing its ownership of TBF from 55% to 100%.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Territory Biofuels Limited
TBF owns a large scale biorefining facility located in Darwin, Northern Territory which includes a Lurgi-designed biodiesel plant and the largest glycerine refinery in Australia. The facility was commissioned in 2008 at a cost of A$80 million, along with 38 million litres of related tankage, now leased by TBF. The biodiesel plant is the largest in Australia with a rated capacity of 140 million litres per year. The plant was originally built to run on palm oil and food-grade vegetable oil, however the plant was shut down in 2009 due to challenging technical and economic conditions. TBF is in the process of raising funds to restart the existing facility utilizing environmentally certified, Refined Bleached & Deodorized (RBD) palm oil. In 2015, TBF plans to integrate new feedstock pre-treatment technologies and catalysts to process a broader range of feedstocks such as lower quality tallow, used cooking oil and palm sludge oil; a waste product from palm oil mill extraction.
About Lignol Energy Corporation
Lignol Energy Corporation is an emerging producer of biofuels, biochemicals and renewable materials from waste. LEC is in the process of increasing its ownership of Territory Biofuels Limited from 55% to 100% by the end of January 2014. LEC also owns 100% of Lignol Innovations Ltd. ("LIL"), 21% of Australian Renewable Fuels Limited ("ARW"), 51% of Neutral Fuels (Melbourne) Pty Ltd ("Neutral Fuels Melbourne") and 20% of Neutral Fuels Parent Company Ltd ("Neutral Fuels"). The Company intends to invest in, or otherwise obtain, equity interests in energy related projects, which have synergies with the Company and have the potential to generate near term cash flow. Further information is available on the Company's website at www.lignol.ca.
Caution concerning forward-looking statements:
Certain statements contained in this document may constitute forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include, without limitation, statements or information about the ability of TBF to produce and market its products to Europe and the United States following its recently received ISCC and US EPA approval as a RIN-generating foreign producer, LEC's ability to complete the purchase of the remaining ordinary shares of TBF from the other TBF shareholders, and TBF's ability to finance, restart and profitably operate its 140 million liter per year biodiesel plant and glycerine refinery. Often, but not always, forward looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or words and phrases that state or indicate that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Such statements or information reflect LEC's current views with respect to future events and are subject to certain risks, uncertainties and assumptions including, without limitation, TBF's ability to profitably produce and sell products which meet the specifications of its recent ISCC and US EPA certifications including its ability to generate a RIN from palm oil based biodiesel, LEC's ability to raise additional capital to fund operations and to support the capital requirements of its affiliates, TBF may in the future issue shares in connection with the raising of capital or the repayment of debt or other obligations, which could result in LEC owning less than 100% of TBF, TBF's ability to successfully operate the Darwin facility and to generate revenues and cash flow, TBF's ability to integrate new pretreatment technologies and catalysts to facilitate the processing of a broad range of lower cost feedstocks, LEC's ability to continue as a going concern and to raise additional financing to fund the operations of LEC and LIL and to support the financing requirements of TBF and LEC's planned investment in Neutral Fuels, Neutral Fuels and Neutral Fuels Melbourne's ability to maintain a profitable working relationship with McDonald's restaurants, LEC's ability to invest in, or otherwise obtain, equity interests in energy related projects which have technical and commercial synergies with the Company and which have the potential to generate future dividends and near term cash flow, the potential effect of changes in government policy relating to the environment, and incentives for renewable fuels, the potential impact of changes in the prices of feedstock and the market price of liquid fuels including biodiesel, ethanol and renewable chemicals, the ability of LEC and its affiliates to generate future profits, to pay dividends and to meet increasing regulatory requirements, LIL's ability to finance and complete the development of a commercial project, LIL's ability to develop products and to obtain off-take agreements, LEC's reliance on publically available information of ARW in its evaluation of its acquisition of shares in ARW, the potential inability to divest the ARW ordinary shares due to modest trading volumes, the estimated cost of any future TBF capital investment, and the effect of changes in government policy relating to energy and the environment.
Many factors could cause LEC's actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by such
forward looking statements or information, including among other
things, financial market conditions which will impact LEC's ability to
finance its operations and to meet future capital and investment
requirements, the demand for the market price of liquid fuels including
gasoline, biodiesel, ethanol, the market price and demand for renewable
chemicals, risks relating to the protection of technology from
infringement and those risk factors which are discussed elsewhere in
documents that LEC files from time to time with securities and other
regulatory authorities. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking statements or information prove incorrect, actual
results may vary materially from those described herein as intended,
planned, anticipated, believed, estimated or expected. Except as
required by law, LEC expressly disclaims any intention or obligation to
update or revise any forward looking statements and information whether
as a result of new information, future events or otherwise. All written
and oral forward-looking statements and information attributable to us
or persons acting on our behalf are expressly qualified in their
entirety by the foregoing cautionary statements.
SOURCE Lignol Energy Corporation
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Apr. 30, 2016 05:30 PM EDT Reads: 677
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Apr. 30, 2016 04:45 PM EDT Reads: 548
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Apr. 30, 2016 04:45 PM EDT Reads: 1,040
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
Apr. 30, 2016 04:45 PM EDT Reads: 979
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 30, 2016 04:15 PM EDT Reads: 1,659
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
Apr. 30, 2016 04:15 PM EDT Reads: 536
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
Apr. 30, 2016 04:15 PM EDT Reads: 729
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Apr. 30, 2016 04:15 PM EDT Reads: 1,024
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
Apr. 30, 2016 04:00 PM EDT Reads: 533
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Apr. 30, 2016 03:30 PM EDT Reads: 1,431
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
Apr. 30, 2016 03:15 PM EDT Reads: 709
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 30, 2016 02:30 PM EDT Reads: 1,698
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Apr. 30, 2016 02:15 PM EDT Reads: 1,442
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Apr. 30, 2016 02:00 PM EDT Reads: 1,070
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Apr. 30, 2016 01:15 PM EDT Reads: 1,519