VANCOUVER, Feb. 15 /CNW/ - Lignol Energy Corporation, (TSX-V: LEC) ("Lignol" or "the Company"), a leading technology company in the cellulosic ethanol sector, today announced a Memorandum of Understanding ("MOU") with Novozymes, the world's leading producer of industrial enzymes, in which the parties have established the framework of a multi-year collaboration agreement to optimize the latest generation of Novozymes' enzymes for use in Lignol's cellulosic biofuel process.
Lignol plans to construct large-scale biorefineries for the production of cellulosic biofuel from wood chips and forestry residues. Novozymes supplies enzymes that convert cellulosic biomass into sugars that can then be fermented into ethanol. The parties plan to use Lignol's fully integrated industrial-scale pilot plant in Burnaby, British Columbia, to optimize enzyme performance across a range of cellulosic feedstocks in Lignol's unique process.
Today's announcement follows progress between the parties which has resulted in significant improvements in the conversion of woody biomass to ethanol. More information on the technical and economic achievements to date will be provided at the National Ethanol Conference to be held on February 16, 2010 in Orlando, Florida.
"We are excited with the opportunity to collaborate with the world's leading enzyme producer to optimize their latest technology for Lignol's unique substrate. In so doing, we are removing a critical cost barrier to the commercialization of cellulosic ethanol. This marks a major step for our industry in achieving the cellulosic biofuel objectives set out by various governments throughout the world," said Lignol President and CEO, Ross MacLachlan. "Our integrated plant is perfectly suited for this type of collaboration in which our industrial process is coupled with Novozymes' biological technology to make cellulosic ethanol a commercial reality."
Novozymes is the world leader in bioinnovation. Together with customers across a broad array of industries Novozymes creates tomorrow's industrial biosolutions, improving the customers' business, and the use of the planet's resources. With over 700 products used in 130 countries, Novozymes' bioinnovations increase industrial performance and safeguard the world's resources by offering superior and sustainable solutions for tomorrow's ever-changing marketplace. Read more at www.novozymes.com.
Lignol (TSX-V: LEC) is a Canadian company undertaking the development of biorefining technologies for the production of fuel-grade ethanol and other biochemical co-products from non-food cellulosic biomass feedstocks. Lignol's modified solvent-based pre-treatment technology facilitates the rapid, high-yield conversion of cellulose to ethanol and the production of value-added biochemical co-products, including high purity HP-L(TM) lignins. Lignol is executing on its development plan through strategic partnerships to further develop and integrate the core technologies on a commercial scale. Lignol also intends to invest in, or otherwise obtain, equity interests in energy related projects which have synergies with its biorefining technology. For more information about Lignol, please visit our website at www.lignol.ca.
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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 our ability to fund our Baseline Operations, our fully integrated biorefinery pilot plant in Burnaby, British Columbia, the planning and development of our previously proposed cellulosic ethanol commercial demonstration plant, our ability to exploit commercial opportunities and broaden our market opportunities for a range of cellulosic derivatives and environmentally sustainable biochemicals and our ability to pursue these opportunities with strategic partners. 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 Lignol's current views with respect to future events and are subject to certain risks, uncertainties and assumptions including, without limitation, our ability to establish the validity of our technology at the fully integrated biorefinery pilot plant scale, our ability to satisfy the conditions of existing government grants and to obtain new additional grants, our ability to finance and complete the development of the commercial demonstration plant, our ability to develop our products, our ability to obtain requisite regulatory approvals and our ability to enter into agreements with strategic partners on terms acceptable to us. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Lignol'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, the complexity of the development of the commercial demonstration plant, market conditions which will effect our ability to finance our operations, risks relating to the protection of Lignol's core technology from infringement and those risk factors which are discussed elsewhere in documents that Lignol files from time to time with securities 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, the Company 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
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