Syntroleum Receives Technology Transfer Down Payments
The company reported it now believes it has sufficient cash to fund ongoing operations and its share of the remaining equity required to complete the Dynamic Fuels LLC facility in Geismar, Louisiana.
The Dynamic Fuels Geismar facility remains on budget and on schedule for mechanical completion by the end of 2009 and plant start-up beginning in early 2010. A second Dynamic Fuels facility is under consideration and the company is exploring and evaluating financing options for the second plant which includes the balance of payments due under the referenced technology agreements.
Syntroleum Corp. owns the Syntroleum(r) Process for Fischer-Tropsch conversion of synthesis gas derived from biomass, coal, natural gas and other carbon-based feedstocks into liquid hydrocarbons, the Synfining(r) Process for upgrading FT liquid hydrocarbons into middle distillate products such as synthetic diesel and jet fuels, and the Bio-Synfining(tm) technology for converting animal fat and vegetable oil feedstocks into middle distillate products such as renewable diesel and jet fuel.
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