Télam Noticias Argentinas [Translated]
A Biomass Company will Open in Argentina Translated into English
It is Dynamotive Energy Systems who will produce combustible liquid fuels from agricultural and forestry residues. “Our objective is to move the company forward in the country, contract personnel, invest and provide for the local and global markets,” said the President of the firm, Andrew Kingston to Télam.
The President of the Canadian firm, Argentinean Andrew Kingston, confirmed yesterday that they will open in Argentina to produce combustible liquid fuels with an investment in each plant between twelve and fifteen million US dollars.
“We think that this is the best moment to do this. Our objective is to develop the biomass firm in Argentina, contract and train personnel locally, invest, and provide for the local markets and global markets,” said Kingston to Télam.
Biomass is all agricultural and forestry residue such as wood or straw; these can be converted into a liquid fuel.
”We have the capability of converting all of these feedstocks into a combustible liquid fuel through our process that we developed in Canada,” he explained.
Andrew Kingston said that “the decision to open in Argentina has already been taken” and confirmed that they will incorporate “the company in all of Latin America, with its headquarters in Buenos Aires.”
He said that the company will initially operate in Argentina with branches in Chile and Uruguay, but he stated that “the point of entry into Latin America is through Buenos Aires.”
Kingston said that Dynamotive has the capability to fabricate plants and has a profound knowledge of the market.
Kingston confirmed that there will be an initial investment of “approximately one and a half million dollars to establish the firm.”
“As for the construction of each plant, we have discussed an investment of between twelve and fifteen million dollars, and we estimate that in the next four years we will develop six to seven plants or more,” he said.
Kingston maintains that he has commenced negotiations with various provinces, including Corrientes, Misiones and Salta, for locations to build these plants.
Kingston also said that they have many investors who work for the firm; they include Consensus Business Group based in London.
When he was asked why the firm chose Argentina, he responded that they chose Argentina because of “problems with logistics elsewhere.”
”We have worked with Tecna for over five years, and we know the Argentinean Market. There is a large amount of biomass in the country, and there is a need to develop fuels to replace oil,” he said.