NEWS
Viridis Energy Acquires Patents for Biomass Additives
December 1, 2010Viridis Energy Inc. (TSX.V: VRD), today announced it has signed an agreement for intellectual property related to biomass fuels and associated processing technology. As part of this agreement, Viridis will obtain the Rights of Use for trade secrets and patented biomass additives developed by patent holder, Adjunct Professor Mark Drisdelle. Mr. Drisdelle will join Viridis Energy as Chief of Technology effective December 1, 2010.
As part of this agreement, Viridis will have the Rights of License for the patented biomass additives, which are a vital component of the Company’s strategy to help coal plants reduce greenhouse gas emissions (GHG) and meet new targets for renewable energy in Asia Pacific and the rest of the world through the use of readily available, lower cost agriculture based biomass residues.
“Coal plants around the world are actively moving toward a co-firing approach to GHG emission reduction or converting their plants to run entirely on biomass. Wood pellets and agricultural biomass are actively sought by the power plants outside of North America. In Europe, for instance, over 100 coal plants are co-firing today and countries such as China and South Korea are moving rapidly in this direction,” says Christopher Robertson, CEO, Viridis Energy Inc.
“The additives are essential in combination with high alkali biomass agriculture residues during combustion, in order to reduce the slagging and fouling associated with agri-biomass. Sources of high energy fiber fuels include the hulls of grains, seeds, fruits, nuts shells, bark, bagasse from sugar cane processing and new forms of dedicated energy crops such as switch grass and miscanthus” explains Viridis new chief of technology, Professor Mark Drisdelle, “essentially, the additives reduce unscheduled boiler shutdown, associated maintenance costs, and they maintain optimum heat transfer efficiency,” the primary objective of a power plant.
About Viridis Energy Inc.
Viridis Energy Inc. (TSX: VRD-V) is a publicly traded, "Cleantech" alternative energy company specializing in the agricultural and wood waste biomass. Located in Vancouver, B.C., Viridis Energy operates Cypress Pacific Marketing and Okanagan Pellet Company, two acquisitions in the wood pellet sector, thus providing the company with vertical integration for distribution and manufacturing.
For more information on Viridis Energy Inc. please refer to the company website at www.viridisenergy.ca.
Forward-looking Statements Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for biofuels, (3) the risk that the Company does not execute its business plan, (4) inability to finance operations and growth (5) inability to retain key management and employees, (6) ; an increase in the number of competitors with larger resources, and (7) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A; in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s MD&A; filed with Canadian security regulators. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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