|By PR Newswire||
|April 7, 2014 05:00 AM EDT||
VANCOUVER, April 7, 2014 /CNW/ - Lignol Energy Corporation (TSXV: LEC) ("LEC" or the "Company") today announced the signing of a formal Memorandum of Understanding ("MOU") between M Energy Co., Ltd. ("M Energy") and LEC establishing the framework by which the two companies will work together to restart LEC's 140 million litre per year biodiesel plant and incorporate M Energy's proprietary pre-treatment technology. The Parties have been in discussions regarding an investment structure which, if successful, would provide sufficient capital for the Darwin project and an opportunity for M Energy to become an equity partner in the project.
The two companies have collaborated over the past several months to develop a technology and commercial feasibility study on the integration of M Energy's patented pre-treatment solution with the Company's Lurgi designed, biodiesel plant located in Darwin Australia. This has involved physical inspections of both the Darwin plant and of M Energy's operating pre-treatment plant in Korea. Samples of feedstocks for the Darwin plant have also been tested and verified to work with the M Energy pre-treatment technology. The scope of the collaboration also covers marketing rights to M Energy's technology in Australia as well as commercial synergies in feedstock procurement, offtakes and sales of biodiesel to export markets.
The Darwin project involves the completion of certain Lurgi upgrades to ensure operability as well as routine replacement and refurbishment of certain existing components, followed by implementation of M Energy's proprietary pre-treatment package, which will allow the plant to process a range of low-cost, sustainably certified high free fatty acid waste feedstocks. Biodiesel produced from certified waste feedstocks that meet quality specifications can be sold into certain markets around the world at a premium price; especially those markets which have established mandates for environmentally sustainable fuels.
About M Energy Co. Ltd. ("M Energy")
M Energy is a profitable biodiesel producer with three operating plants in Korea. M Energy's production capacity is the second largest in Korea, capable of producing 135 million liters per annum, soon to become 185 million liters capacity once the Iksan plant is re-commissioned this year. M Energy has developed a patented, proprietary pre-treatment process for the processing of low cost, high free fatty acid feedstocks from a range of waste materials. The technology has been installed at one of M Energy's operating biodiesel plants where it has been proven to work at commercial scale. High quality biodiesel is produced by M Energy and it currently sells a significant portion of its production to Europe under long term agreements at the premium prices established for biodiesel produced from sustainably certified waste feedstocks.
About Lignol Energy Corporation ("LEC")
LEC is an emerging producer of biofuels, biochemicals and renewable materials. The Company is undergoing a transformation from a leading technology developer in the biorefining sector, to that of an owner of commercial biorefining assets. This strategy has leveraged LEC's expertise gained through its experience with the development of its proprietary biorefining technology. On April 2, 2014 LEC announced that it is working with its financial advisors to establish the terms of a financing which it needs to complete within the next month.
LEC owns 100% of Territory Biofuels Ltd ("TBF") which owns the largest biodiesel plant and 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. LEC is currently seeking ways to raise funds to restart the existing facility using sustainably certified waste feedstocks. The Darwin plant has recently received European ISCC certification and LEC has secured agreements that will qualify the Darwin plant's production to receive premium prices for exports to Europe. The Darwin plant requires a pre-treatment technology package to process low cost, high free fatty acid ("FFA") waste feedstocks and the company has selected M Energy as its preferred technology partner.
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.
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 LEC's ability to complete discussions with investment advisors to establish the terms of a financing and to complete such financing within the next month, LEC's ability to complete its transition from a technology developer to an owner and operator of commercial biorefining assets, LEC's ability to restart the Darwin biodiesel plant and to subsequently integrate the plant with M Energy's pretreatment facility so as to allow it to process lower cost feedstocks, and to establish in collaboration with M Energy commercial synergies in feedstock procurement, offtakes and sales of biodiesel to export markets, TBF's ability to generate cash flow from the operation of the Darwin plant, LEC's ability to invest in, or otherwise obtain, equity interests in energy related projects which have potential synergies and the potential to generate near term cash flow, LEC's ability to continue as a going concern and to raise additional financing to fund the restart of the Darwin plant and to fund the operations of LEC and its affiliates, LEC's ability to repay amounts owning to DCF under the revolving credit agreement, LIL's ability to satisfy certain project deliverables and related funding conditions from existing and potential future government grants, obtaining strategic partnership investments and government funding for initial commercial projects. 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, LEC's ability to raise additional capital to fund operations and to support the capital requirements of its affiliates, the requirements of 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 and to pay dividends, and to meet increasing regulatory requirements, the effect of changes in government policy relating to the environment, and incentives for renewable fuels, the ability to meet relevant local and international regulatory requirements.
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
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 29, 2016 10:00 PM EDT Reads: 1,273
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 29, 2016 09:45 PM EDT Reads: 1,484
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 29, 2016 08:00 PM EDT Reads: 2,744
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
Jul. 29, 2016 07:45 PM EDT Reads: 1,172
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Jul. 29, 2016 06:15 PM EDT Reads: 952
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Jul. 29, 2016 06:00 PM EDT Reads: 923
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Jul. 29, 2016 05:15 PM EDT Reads: 386
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
Jul. 29, 2016 05:15 PM EDT Reads: 984
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 ...
Jul. 29, 2016 04:45 PM EDT Reads: 1,247
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Jul. 29, 2016 04:15 PM EDT Reads: 1,082
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Jul. 29, 2016 04:15 PM EDT Reads: 447
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
Jul. 29, 2016 04:15 PM EDT Reads: 406
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Jul. 29, 2016 03:15 PM EDT Reads: 668
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
Jul. 29, 2016 03:00 PM EDT Reads: 470
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
Jul. 29, 2016 02:15 PM EDT Reads: 392