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| NZ: Genesis' BioJoule plant makes fuel with willow |
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| Saturday, 10 June 2006 | |
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Taupo, New Zealand -- At its annual AGM, Genesis Research and Technology's head Jim Watson has asked investors for $5 million to help take
its biofuel technology to pilot stage. The BioJoule pant will use willow as its feedstock, the energy to be geothermal in the form of steam.
If successful, the commercial plant (likely to cost between $50-$100 million) will be located in Taupo.
The Lake Taupo Development Company, an economic development agency, will be partners in the project, which it is estimated will create 400 new jobs in the area.
A useful by-product of the new plant would be lignin, which the company says can be used as a substutute for chemical additives inproducts such as paint.
The New Zealand government's target for biofuel is 65 million litres by 2012.
See the full press release here:
http://72.14.209.104/search?q=cache:DreOAkn2JKYJ:www.genesis.co.nz/
Press_Releases/documents/Annual%2520Meeting%2520Presentation%
25202006.pdf+BioJoule&hl=en&ct=clnk&cd=11&client=safari
David Smith, Singapore
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