ZeaChem Selected for Biomass Crop Assistance Program Award
Boardman, Oregon Project Area to Support Hybrid Poplar Tree Production with Feedstock Partner GreenWood Tree Farms
Portland, Ore. and Lakewood, Colo. - July 27, 2011 - ZeaChem Inc., a developer of biorefineries for the conversion of renewable feedstocks into sustainable fuels and chemicals, announced it has been selected by the U.S. Department of Agriculture (USDA) to participate in the Biomass Crop Assistance Program (BCAP). The creation of the project area surrounding ZeaChem's biomass conversion facilities near Boardman, Oregon will fund the establishment and maintenance of 7,000 acres of intercropped hybrid poplar trees by feedstock partner GreenWood Tree Farm Fund (GTFF), managed by GreenWood Resources (GWR). The feedstock will be converted into advanced biofuels and bio-based chemicals at ZeaChem's 250,000 gallon per year (GPY) integrated demonstration biorefinery and 25 million GPY first commercial biorefinery, located at the Port of Morrow, near Boardman, Oregon.
ZeaChem is grateful to the USDA for designating the project area surrounding its biorefineries near Boardman, Oregon for the establishment of renewable energy crops, said Jim Imbler, president and chief executive officer of ZeaChem. USDA's BCAP funding support provides further validation of ZeaChem's innovative approach for the conversion of woody biomass into sustainable and economical advanced biofuels and bio-based chemicals. We look forward to working with our feedstock partner, GreenWood Resources, and USDA to produce commercial volumes of advanced cellulosic biofuels and bio-based chemicals using these newly established dedicated energy crops.
GreenWood Resources appreciates the USDA's support and recognition of hybrid poplar trees as an excellent non-food feedstock resource for the production of advanced biofuels and bio-based chemicals, said Jeff Nuss, president and chief executive officer of GreenWood Resources. Together, GreenWood Resources, ZeaChem and the USDA, are supporting rural economic development through the establishment of this renewable energy crop.
BCAP, created in the 2008 Farm Bill, helps farmers and forest landowners with start-up costs of planting non-food energy crops for conversion to heat, power, biobased products and advanced biofuels. BCAP is designed to ensure sufficient biomass is available to reduce America's reliance on foreign oil, improve domestic energy security, reduce pollution and spur rural economic development and job creation.
About GreenWood Resources, Inc.
GWR, founded in 1998, is a global timberland investment and property management company specializing in the acquisition, development and management of high-yield, short-rotation, sustainable tree farms. GWR specializes in creating value through the integrated deployment of improved plant material and intensive silvicultural management strategies to achieve superior risk- adjusted returns in selected regions of the world. GWR has over 70 professionals with offices and field locations in North America, South America, Europe, and Asia (China). GWR currently manages approximately $US 350M of assets or commitments and is committed to certifying its tree farms under the Forest Stewardship Council (FSC). In addition, GWR has been a leader in the research and development of hybrid poplar as one of the key future sustainable feedstocks for bioenergy and biofuels and are leading the way in the development of dedicated energy plantations for strategic converting technology partners.
Please visit www.greenwoodresources.com for more information.
About ZeaChem Inc.
ZeaChem Inc. has developed a cellulose-based biorefinery platform capable of producing advanced fuels and intermediate chemicals. ZeaChem's indirect approach leapfrogs the yield and carbon dioxide (CO2) problems associated with traditional and cellulosic based biorefinery processes. In addition, ZeaChem has a significant capital cost advantage compared to other cellulosic technologies. By efficiently extracting the most energy possible from biomass feedstocks, ZeaChem significantly increases output while reducing both production costs and environmental impacts. Incorporated in 2002, ZeaChem is headquartered in Lakewood, Colo. and operates a research and development laboratory facility in Menlo Park, Calif.
Please visit www.zeachem.com for more information.
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