Syntec Biofuel Inc.
OTC Bulletin Board : SYBF

Syntec Biofuel Inc.

October 23, 2009 09:00 ET

Syntec Biofuel Expands Into Natural Gas and Coal and Will Apply to Change Name to Synthenol™ to Reflect Expansion

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2009) - Syntec Biofuel Inc. (OTCBB:SYBF) has announced today that it will apply to change its name to "Synthenol,(TM) Inc." in order to differentiate the Company from a conventional biofuel business. Syntec Biofuel's technology is based on a simple process of converting syngas, generated from biomass, natural gas or coal, which is reacted with Syntec's patent pending catalysts to produce not only ethanol but methanol and other high value alcohols such as propanol and butanol.

The Company has identified two reasons for the change. First, the deletion of the term "biofuel" highlights Syntec's unique difference from companies producing corn, wheat and cellulosic ethanol, which have been devastated by the increase in feedstock cost and the decrease in price of ethanol. Syntec believes that it is important that its shareholders understand that the Company's range of 4 products poses a lower investment risk than producing a single biofuel (such as ethanol) and offers the opportunity for higher revenues, as the average price of the mixed alcohols is currently over $2.50 per gallon.

"Syntec Biofuel's core technology produces mixed alcohols comprised of methanol, ethanol, propanol and butanol," said Syntec Biofuel CEO Michael Jackson. "These four alcohols create four different revenue opportunities for the Company as they are widely used primarily in the chemical industry."

The second reason the Company identified for the name change from "Syntec Biofuel" to "Synthenol" is that this change signals the expansion of the Company's research and development beyond merely biofuels. While its original model was based solely on the utilization of biomass or biogas-the so called "green gases"-its ability to produce mixed alcohols from natural gas and coal has allowed Syntec to increase the potential its catalyst offers.

"We have decided to broaden our market reach by offering our technology to coal producers and to natural gas and methanol producers that might include Methanex, BP, Sabic and Mitsui," noted Jackson.

About Syntec Biofuel

Syntec Biofuel is a Washington State corporation, based in Vancouver, British Columbia, Canada. The Company has developed patent pending catalysts to produce not only ethanol, but also methanol and other high value alcohols such as propanol and butanol from biomass, coal and natural gas. Syntec is continuing to build up their management infrastructure.

For more information, visit www.syntecbiofuel.com.

Forward Looking Statements
This press release contains forward-looking statements that are subject to certain risks and uncertainties. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. We caution potential investors not to invest until they have done proper due diligence. Some of the risks and uncertainties include: our ability to achieve commercialization, the social, political and economic risks of our operations; changes to existing regulations or technical standards; existing and future litigation; our ability to protect our intellectual property rights and exposure to infringement claims by others; and compliance with environmental, health and safety laws. Our future financial condition and results of operations, as well as any forward-looking statements are subject to change and inherent risk and uncertainties. Other important factors that may cause actual results to differ materially from those expressed in forward-looking statements are contained periodic reports on Forms 10-K, 10-Q and 8-K as filed with the Securities and Exchange Commission.

Contact Information