Syntec Biofuel Inc.
OTC Bulletin Board : SYBF

Syntec Biofuel Inc.

November 20, 2008 09:00 ET

Syntec to Develop Catalysts to Produce Butanol and Propanol From Biomass and MSW

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2008) - Syntec Biofuel Inc. (OTCBB:SYBF) announced today it is launching a research program to develop catalysts and processes to produce Bio-butanol and Bio-propanol from biomass.

This new R&D initiative is projected to be a 3 year program and will run in parallel with Syntec's catalyst development. The company will be seeking strategic financial partners to support the estimated costs of US$2,500,000.

Syntec has, since 2001, successfully developed catalysts to convert biomass and MSW into ethanol, methanol and higher order alcohols; currently, boasting one of the highest yields in the world (110 gpt). Syntec is one of a small handful of companies around the world specializing in thermo-chemical biofuel technology.

Butanol is considered by many industry experts to be one of the most promising biofuels, as endorsed by the research initiative commenced between BP and DuPont. Currently, butanol is used as a solvent and as a chemical intermediate in thousands of consumer products and sells for in excess of $5 per gallon.

Propanol plays an important role as a solvent in the plastics & polymers, pharmaceutical, paint and cosmetic industries. It is also used as a carrier and extraction solvent for wide range of natural products and sells for in excess of $5 per gallon.

"Currently, almost all butanol and propanol in the world is derived from fossil fuels," explained Syntec CEO Michael Jackson. "The commercialization of Bio-butanol and Bio-propanol will effectively reduce the carbon footprints of many major industries."

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