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VGPR: Vega Biofuels, Inc.
Vega Biofuels Files Provisional Patent with the U.S. Patent and Trademark Office for its Generation Four Torrefaction Machine
Vega Biofuels, Inc. (OTCPink: VGPR) announced today that the Company has filed a Provisional Patent Application for its generation four (G4) torrefaction machine. Vega recently announced that its G/4 torrefaction machine increases the manufacturing capacity by approximately twenty five percent. Vega believes that portions of the process for the new machine are unique in the current marketplace and therefore, filed the Provisional Patent Application with the U.S. Patent and Trademark Office under the title “Method and Apparatus for Torrefying Biomass”. The application disclosure relates generally to wood used as a fuel source, and more particularly to systems, methods, and devices for torrefying biomass, such as wood or other agricultural biomass.
Torrefaction is a special process technology that converts timber into a renewable energy alternative to traditional coal for utility owned pulverized coal-fired power plants around the world. Torrefaction is a partial carbonization process at temperatures between 475 – 575ºF (200 – 400° C) in a low oxygen environment. The physical and energetic properties of the biomass are then much more comparable to conventional coal. Vega’s torrefied fuel product is called Bio-Coal. Bio-Coal has a high-energy density of up to 13,000 BTUs/Lb and is considered a renewable energy fuel that meets the Renewable Portfolio Standards and Renewable Energy Credits (RECs) in the United States. Existing coal-fired power plants can utilize the Bio-coal without making significant changes to their current infrastructure. The torrefaction machines are manufactured by the Company and its Joint Venture partner in eastern Kentucky. The new machine is the Company’s fourth generation model and includes a pre-dryer that partially dries the biomass prior to the torrefaction process. This step increases the capacity of the machine by approximately 25% by allowing the biomass to pass through the roasting chamber at a faster speed.
ADMT: ADM Tronics Unlimited, Inc.
Andre’ DiMino, CEO of ADM Tronics Unlimited, Inc. (OTCQB: ADMT), a technology-based developer and manufacturer of innovative technologies and products, commented on ADMT’s second quarter of fiscal year 2017 financial results reported on November 17, 2016 in the Company’s quarterly report on Form 10Q available at www.sec.gov.
ADMT CEO Andre’ DiMino stated, “Since reconstructing our business model in 2013 we have booked eleven consecutive quarters of increased revenues and profits. Even more gratifying is that for the six months ended 9/30/16 we produced net income of $950,124 or $0.014 earnings per share, approaching the $0.017 earnings per share produced in our entire fiscal year ended 3/31/15. If this trend continues for the balance of this fiscal year, we believe we should produce income of approximately $0.028 per share for the current fiscal year on a fully diluted basis.”
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