ECO2 Forests Global Forestry Plan Expands to Biomass for Renewable Energy
BOULDER, CO and QUEENSLAND, AUSTRALIA, Sep 20, 2010 (MARKETWIRE via COMTEX) -- ECO2 Forests Inc. () today announced the addition of Biomass for Renewable Energy Power Generation to the products to be derived from Kiri Tree forest operations.
ECO2 Forests intend to use ECO2 Kiri Biomass to establish strategic partnerships with renewable energy providers and are currently negotiating joint venture opportunities with potential partners. The key target for ECO2 Forests is to further expand the Global Forestry Plan with the goal of reducing the timeframe to deliver revenue from projects to less than 2 years.
Global biomass markets are already well established. Biomass for use in generating energy, such as those now able to be created by ECO2 Forests, currently demand up to $300 per ton on global markets, as reported by Biomass Magazine.
According to the US Department of Energy, "Biomass fuels provide about 4% of the energy used in the United States. Researchers are trying to develop ways to burn more biomass and less fossil fuels. Using biomass for energy may cut back on waste and greenhouse gas emissions."
Specifically targeted for use in Biomass Gasifiers, the Kiri Biomass is heated but not burned, breaking down into various gases. These gases are captured and burnt in a gas turbine or generator to produce electricity. Another approach is to take these fuels and run them through fuel cells, converting the hydrogen-rich fuels into electricity and water, with few or no emissions.
"The addition of the ECO2 Kiri Biomass product line is an exciting development for the company as we strive to further improve our position in multiple marketplaces, while specifically focusing on delivering increased shareholder value and targeting to realize earlier revenue streams," ECO2 Forests CEO Ray Smith said today.
"ECO2 Kiri Biomass perfectly complements our sustainable lumber and carbon credit products, allowing ECO2 Forests to actively seek partnerships with renewable energy providers and expand revenue opportunities for our forestry projects. Creating a combination of sustainable energy production and reforestation projects aims to create significant employment at the local level as well as positive environmental and economical impact to the local region."
A 10,000 acre Kiri Tree biomass forest project produces an estimated annual yield of 340,000 tons of Kiri Biomass, enough to consistently generate around 40 megawatts of electricity per hour, or enough energy to power approximately 10,000 average American homes. The ability of the Kiri Tree to regrow naturally post harvest enables the production of approximately 340,000 tons every year. "Most importantly, this gives us the ability to generate early stage annual revenue from new forest projects within approximately 18 months," added Smith.
"Because, we operate a scalable planting methodology, we can increase our forests size to meet demand with minimal fuss. This allows us to quickly increase supply of our ECO2 Kiri Biomass to any particular region based on their energy needs and consumption. Incorporating ECO2 Kiri Biomass into lumber forests produces a hybrid solution to maximize the benefits from ECO2 Forests renewable forests," Smith said.
"Importantly ECO2 Kiri Biomass meets all of our E(4) Philosophy guidelines, to deliver positive Environmental, Economic, Employment and Education outcomes from our projects and products."
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About ECO2 Forests Inc. ECO2 Forests was created to deliver large scale sustainable, lumber-producing forests and the preservation of old growth forests through an innovative E4 Philosophy -- embracing positive Environmental impact and delivering Economic returns, while fostering Employment and Education.
Company projects are operated under the Global Forestry Plan which calls for the creation of thousands of acres of new forests to be planted and maintained around the world.
A publicly traded company, ECO2 Forests trades under the U.S. Stock Symbol ECOF. With offices in Boulder, Colorado and Queensland, Australia the company has been structured specifically to be positioned for global growth and support.