Biomaxx Systems Inc signs Memorandum of Understanding with Morita Biotek Pvt Limited to develop a bio-ethanol initiative In India
Released on = June 6, 2006, 10:17 pm
Press Release Author = Andreas Weiss
Industry = Energy
Press Release Summary = Toronto, Ontario Canada - (For immediate release) - June 5, 2006 4:00 PM EST
Biomaxx Systems Inc. (Other OTC: BMXSF) is pleased to announce that the company has signed a Memorandum of Understanding (MOU) with Morita Biotek Pvt Limited (Morita Biotek) of Hyderabad, India. This MOU represents a significant opportunity for Biomaxx Systems Inc. to introduce our proprietary biofuels and ethanol technologies and consulting expertise to the Indian and Asian markets. Morita Biotek Pvt Limited has engaged Biomaxx Systems Inc. for the strategic development of a bio-ethanol project in the region of Andhra Pradesh to compliment Morita's extensive marketing and logistical knowledge of the petroleum and biofuels markets in India and South East Asia.
Press Release Body = Under the terms of this MOU, Biomaxx Systems Inc. and Morita Biotek Pvt Limited will collaborate and cooperate on the development of a biofuels feasibility study with specific interest in the areas of ethanol using biomass and raw material that is in abundance in the area of Andhra Pradesh in India. Both parties agree this strategic alliance as defined by the MOU will create a significant business opportunity wherein Biomaxx Systems will provide proven technologies and the equipment requirements for a processing plant and with proprietary Biomaxx processes, Morita Biotek will build a state of the art facility to produce bio-ethanol from feedstock or biomass and market and distribute bio-ethanol, using Biomaxx technologies in South East Asia.
The President of Biomaxx Systems - Mr. Ronald Crowe states - " We are pleased to work with a company such as Morita Biotek, that shares in our commitment to bio-fuel technologies and the global reduction of reliance on fossil fuels that cause harmful CO2 emissions and Green House Gases, in cooperation we can help to slow the trend of global warming. The company is excited with the fact that this represents a significant opportunity in the highly populated India market. India currently imports 70% of crude oil which accounts for over $ 40 billion per year. As Morita Biotek has noted that represents $ 425 million for every $ 1.00 dollar increase in the price of crude oil. Bio-ethanol will greatly reduce this reliance on imports, thanks in most part to companies like Morita Biotek."
\"Biomaxx has found acceptance for its technology in global markets. This alliance will further position Morita Biotek very favorably in Asian Market, as Biomaxx is well respected for its consultancy services and Technical expertise of Ethanol" said Ram Pathuri, Managing Director, Morita Biotek Pvt Limited.
What is bio-ethanol? As bio-ethanol is a renewable fuel derived from plants (such as sweet sorghum, cassava, cereals, sugar beet etc.) or biomass (such as wood waste), the primary environmental benefit is the reduction of COČ emissions. The use of bio-ethanol can lead to up to a significant reduction in overall COČ emissions compared to a traditional petrol only engine. Bio-ethanol used as part of the fuel, by blending with petrol, for a motor vehicle is called fuel-ethanol. Bio-ethanol can be blended in various proportions in petrol.
About Morita Biotek PVT Limited
Morita Biotek, based in Hyderabad, India specializes in technology, design, engineering, manufacture and supply of equipment for distillery plants, ethanol plants, brewery plants & related effluent treatment plants and is the owner of information related to various processes for the same. Besides, Morita Biotek is a life sciences R&D enabling company with a focus on bio-IT, micro arrays and contract research services.
About Biomaxx Systems Inc.
Biomaxx Systems Inc.'s corporate mandate is to promote clean, efficient and safe energy alternatives and to reduce emissions and control green house gas emissions for the Global alternative fuel markets. Biomaxx Systems Inc. plans to develop proprietary biotechnology processes to improve the efficiency of fermentation process used to produce bio-fuels and intends on licensing this technology.
Biomaxx Systems Inc. also provides professional consulting services in the fields of Biotechnology, Bio Fuels, Renewable energy and related specializations. Biomaxx will leverage the knowledge of our experienced professionals and consultants with distinct specializations in the key areas of biotechnology and bio-energy. Biomaxx Systems Inc. is a Canadian company with international reach, covering most global markets.
Safe Harbour Statement: This release includes forward looking statements, which are based on certain assumptions and reflects management\'s current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
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