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Industry: Email Alert RSS FeedDynaMotive Signs Licensing Agreement With Rika, Ltd
Renewable Energy Today, Feb 2, 2006
DynaMotive Energy Systems Corporation recently announced it has granted a master license to Latvian holding company Rika, Ltd., with Rika agreeing to market DynaMotive technology as well as develop and operate facilities in the Ukraine and Latvia. Two projects are initially targeted for development.
Under the terms of the agreement, DynaMotive will receive a fee for the master license in addition to license fees for each plant developed in the territory and royalties from plant output. The master license has minimum performance targets for the initial two-year period and requires the construction of two 200-ton-per-day plants.
According to DynaMotive, the companies have further agreed to explore the feasibility of "bio energy crops" in Ukraine and are considering the allocation of 10,000 hectares for growing biomass for BioOil production. DynaMotive estimates that the project could provide for a total production capacity of 300,000 tons of biomass annually.
Contact: DynaMotive, website http://www.dynamotive.com.
(EIN STAFF: 1/24)
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