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Nov 12, 2008 (MARKET WIRE via COMTEX) -- Raven Biofuels International Corporation is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with Price Biostock ("Price") to develop an ethanol biorefinery located in the Gulf Opportunity Zone of Mississippi.
The proposed 35 acre site offers regional benefits such as favourably lower feedstock and labor costs combined with strong State incentives such as The Gulf Opportunity Zone (GO Zone). The feedstock to be utilized for the biorefinery will be locally sourced wood and wood waste. In association with the GO Zone initiatives the project plan also includes development groundwork for a cogeneration facility to be undertaken in cooperation with local utilities. The Gulf Opportunity Zone Act was passed into law on Dec 21, 2005 as an initiative to rebuilding the region devastated by multiple hurricanes (Wilma, Rita and Katrina) in 2005.
John Sams, President of Raven, commented, "Raven is excited to expand its alliance with Price, through the joint development of this project in the southern US. This project represents a strategic location, not just for biomass feedstock procurement, but also due to its close proximity to gulf coast refineries. Raven and Price will benefit from this project, as well as the state of Mississippi through the Gulf Coast Opportunities Zone initiatives."
The agreement calls for a biorefinery output of 33 million gallons per year (MGPY), based on a projected 21 MGPY of fuel grade ethanol and 12 MGPY of furfural products, plus lignin cake.
Dick Carmical, CEO of Price Biostock states, "Price looks forward to this very concrete expansion of our alliance agreement with Raven. Price's experience in biomass feedstock procurement and excellent relationships with critical governmental agencies and local utility companies will facilitate this project and provide a strong synergy with Raven's technology."
Further specifics outlining the agreements between both parties will be made upon completion of negotiations, full details of which will be made publicly available at that time as part of the Company's regulatory disclosure filings with the Securities and Exchange Commission ("SEC").
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November 7, 2008
Raven Biofuels International Corporation (OTCBB: RVBF) ("Raven" or the "Company") is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with the Kamloops Indian Band ("KIB") located in Kamloops, British Columbia, Canada, the purpose of which is to further the development and construction of a proposed ethanol biorefinery and cogeneration power plant in conjunction with KIB.
As part of the agreement, KIB (www.kib.ca) would provide a site ideally situated for industrial use near Kamloops, BC. KIB brings significant access to feedstock resources secured via a multi-year Provincial forestry agreement in which KIB has rights to 124,000 cubic metres of beetle-killed wood within the Kamloops Timber Supply Area. The forestry agreement augments a forest and range agreement signed by the band in 2005, which granted $2.5 million in shared revenues and 272,000 cubic metres of timber over five years.
Recent meetings in Kamloops have led to the agreement between both parties of a non-binding MOU which outlines the mutual interest towards pursuing an alliance leading to the construction of a cogeneration power facility and biorefinery utilizing technology and expertise provided by Raven plus a site, feedstock and other resources provided by KIB. Mr. Ken Day of Price Biostock (www.pricebiostock.com) was instrumental in introducing Raven to KIB. Price Biostock will maintain a role in providing feedstock expertise and management in the proposed venture.
Raven, through its Canadian subsidiary, and KIB plan to quickly move ahead and develop a course of action for the lease of a 30-acre site located near Kamloops, BC with direct rail and road access for the construction of an environmentally safe facility. Current plans identify an initial annual output of 7 million gallons (MGY) of fuel grade ethanol and 4 million gallons of furfural, furfural alcohol, related eco-friendly derivative chemicals and lignin cake. Due to the size of the proposed location, future capacity could be increased to double the plant's production based on its current design.
Estimated capital expenditure for the initial plant (not including the cogeneration power facility) is anticipated to be CAD $33 million with projected revenues of CAD $44 million per year. The initial refinery would employ approximately 30 people directly and provide other related regional economic benefits such as the ongoing provisioning of feedstock to the refinery.
Planning for a definitive agreement includes the execution of a feasibility study to develop arrangements with KIB for a continuous supply of approximately 500 dry ton / per day of organic cellulosic waste. This feedstock would primarily be wood chips from regionally sourced, mountain pine beetle-killed wood fiber as well as other appropriate wood waste sources from the area.
Additional studies would include safe transportation planning as well as the development feasibility of a co-generation plant to provide process steam and power to the proposed biorefinery which offer added financial benefits from offset revenues via the sale of power to the grid and/or the local area. Fuel for the electrical plant is identified as hog fuel consisting of bark and waste wood also sourced primarily from the pine kill forest lands.
Company Management, in conjunction with its engineering firm, will conduct an assessment of all necessary permitting and conduct a full environmental survey in accordance with government guidelines and further plan to assess the possibility of training programs undertaken by Raven for the purpose of establishing employment of band members towards the operation of the plant. The MOU identifies that discussions will include the possibility of an equity investment and ownership from KIB in Raven and/or the projected plant as well as other mutually beneficial business opportunities including the possible development of the Raven brand as a First Nations commercial brand offering a full product line of renewable fuels and eco friendly specialty chemicals as well as future E85 gas stations in British Columbia and other parts of Canada.
Further specifics outlining the agreements between both parties will be made upon completion of negotiations, full details of which will be made publicly available at that time as part of the Company's regulatory disclosure filings with the Securities and Exchange Commission ("SEC").
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June 10, 2008
Raven Biofuels International Corporation (OTCBB: RVBF) plans to build a cellulosic ethanol Biorefinery in Washington State, using a two stage diluted acid hydrolysis. The plant will convert 500 tons per day of wood waste, such as construction and demolition wood or wood chips, and is planned to have a production capacity of almost 11 million gallon per year of ethanol and specialty chemicals (furfural and its derivatives).
The proprietary technology has been developed during the past 10 years and has its origins with the Tennessee Valley Authority, who have been extensively involved in testing programs. Pure Energy Corporation has further developed the technology and protected key elements through patents spending over $20 Million during development. (Raven and Pure Energy have announced their intention to merge on March 13, 2008.)
John Sams, Chief Operating Officer of Raven explains, "The technology is based on simple and proven pulp and paper mill technology, used in the industry for many years successfully. This reduces the risk of commercial deployment and will facilitate a fast roll out of multiple sites in North America."
Raven has chosen Washington State for its substantial availability of feedstock. Both demolition and construction wood and wood waste are available. Moreover, the region is known for its pulp and paper industry. We plan to engage engineering and construction firms that have experience designing and constructing plants using similar technologies.
Recently Gov. Christine Gregoire of Washington State has proposed greater investment by the state in the biofuel industry, calling it "the largest industry of the 21st century and one Washington is well positioned to lead."
The investment in this plant is projected to be $30 Million and construction is expected to take approximately 14 months. Our biorefineries will be financed by equity infusion from Raven and its partners and project finance debt from reputable industry lenders. We assume a project debt financing of $20 Million per plant. The company will likely be eligible to receive additional financial support from grants, loan guarantees, and subsidies from the various programs at the state and federal level.
Revenues of this plant are estimated to be $35 Million when in full production. The payback period is projected to be just over three years from the start of production.
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May 20, 2008
Raven Biofuels International (OTCBB: RVBF) has formed a partnership with Spectrum Energy, a British Columbia based company to develop cellulosic biorefineries in British Columbia that will convert Mountain Pine Beetle (MPB) softwood and other biomass to ethanol and high value furfural chemicals.
While the Pine Beetle has created a major problem for B.C., Raven and Spectrum will use the infested wood as feedstock to make renewable fuels. In a March 2008 press release, the BC Government stated that "The Ministry of Forests and Range and the Council of Forest Industries estimate that the mountain pine beetle has now affected about 710 million cubic metres of timber". Further, "There are about 1.35 billion cubic metres of merchantable pine on B.C.'s timber harvesting land base. If the infestation continues to behave as it has over the past nine years, it's projected that 76 per cent of this pine volume will be killed by 2015". The Pine Beetle killed forests cover an area the size of Texas and could represent enough biomass to produce over a billion gallons of biofuels.
Spectrum management has formed deep relations in the forestry industry over the last 25 years and was directly involved in building four world class "state of the art" lumber facilities at an estimated cost of $900,000,000. Their experience and relationships in the BC forestry industry as well as hands on knowledge of large scale construction are viewed by Raven as key assets in developing biofuels in BC.
Spectrum and Raven have submitted a proposal to the Innovative Clean Energy Fund for funding to proceed with building BC's first cellulosic ethanol refinery.
Our biorefinery is initially projected to produce 10 million gallons of ethanol and chemicals. The biorefinery design can be scaled up to a larger output once operational. Under the BC New Energy Plan, BC has a mandate to blend 5% of the transportation fuel with Ethanol by 2010. Currently there is no commercial scale production of ethanol in BC and the Province will have to import ethanol to meet targets if local production cannot be developed. Spectrum believes that with immediate government commitments the first refinery could be in production in 2010.
Ethanol made from biomass could cut greenhouse gases responsible for global warming by a large margin. Several recent studies conclude that cellulosic biofuels reduce greenhouse gases by over 80%.
Raven Biofuels International Corporation intends to become a global renewable energy company whose principal focus is the low cost production of fuel grade cellulosic ethanol, and derivative chemicals.
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Technology
The technology that Raven has chosen to commercialize is based on Acid Hydrolysis and further proprietary technology which can produce high value specialty chemicals from agriculture waste products, hence reducing the production cost of ethanol below $1.00 per gallon.
The technology is based on a two stage dilutive acid hydrolysis process. It essentially works by breaking down bio matter, such as wood chips, corn stover, and sugarcane bagasse into primary sugar streams that are then converted into a suite of chemicals including ethanol. Raven management believes this technology is superior to other cellulosic production methods in use today.
While many companies have attempted to produce ethanol from cellulosic (non-corn) waste feedstocks during the past 10 years, Raven has a proven technology that can successfully produce fuel-grade ethanol in commercial quantities. The process is known as "two-stage dilute acid hydrolysis." Raven's proprietary process works by breaking down biomass (agricultural waste products such as wood chips, corn stover and sugarcane bagasse) into three primary streams that are then converted into a suite of derivative chemicals, ethanol, and energy producing lignin.
STAGE ONE: After cellulosic feedstock is ground into a fine stream mass, it passes into a first stage acid hydrolysis process where it is treated with a weak sulfuric acid solution to separate residual xylose (C5 sugars). Since xylose does not easily ferment into ethanol, Raven's patented process converts the xylose into a derivative chemical product (furfural) which can be sold into the petrochemical and biotechnology industries at significantly higher prices than ethanol.
STAGE TWO: The remaining feedstock is again treated with a sulfuric acid solution. The second stage acid separates glucose (C6 sugars) from the basic feedstock stream. The glucose is then subjected to a standard fermentation process which ultimately produces ethanol.
The final step in the process involves the utilization of lignin. Lignin is considered the "backbone" of all cellulosic waste material and represents only 15% by weight of the original feedstock, but contains about 80% of the heat energy content. Raven's process takes advantage of this energy source by using high efficiency boilers to generate energy for the plant saving significant energy costs.
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