Biomaxx Systems Inc. (Other OTC: BMXSF) is pleased to announce that the company has signed a formal Agreement with UNA Water GMBH of Sonvilier, Switzerland.
Toronto, Ontario Canada - (For immediate release) - September 29, 2006 4:01 PM EST
Under the terms of the Agreement, Biomaxx Systems Inc. will prepare a feasibility study for the viability of ethanol production from corn and sugar beets in the region of Bihac, Bosnia. The cost of a full scale production facility has been estimated at Ä 50 Million euros capable of producing 10 million litres of ethanol per month. The ethanol produced will be blended with gasoline to be used as a transport fuel in vehicles in Switzerland.
The feasibility study will be conducted by the Biomaxx Systems Consulting team which will be managed by Professor Dr. Naim Kosaric, a native of Bosnia and an internationally recognized expert in the area of biofuels technologies (authoring more than 65 publications relating directly to fuel alcohol).
The feasibility study shall outline the key economic, technological and environmental considerations required to developing an industrial scale operation to produce fuel alcohol from sugar beets and corn biomass. The comprehensive feasibility study for producing fuel alcohols in Bihac, Bosnia will outline the capital cost and operating expenditures, industry analysis in Switzerland and Bosnia, feed stock availability and potential constraints, refining costs and logistics, geographic considerations, market assessment, feedstock (Biomass) characteristics, review of bio-ethanol production processes, environmental considerations, government regulations and incentives, assess and visualize emerging secondary industries and their potential innovation and profitability, with specific interest in the production of alkochemicals for the construction and packaging industries.
Mr. Abdic Enes of UNA Water states, "I am very happy that the project in Bihac will be realized, in conjunction with BioMaxx Systems Inc. and the expertise from their Chief Scientific Advisor, Prof. Dr. Kosaric. We are aiming to be the market leader in East and West Europe for renewable energy solutions. Renewable energy solutions, especially biofuels, are very new to Switzerland and other European countries and therefore we are confident to play a major role in this sector in Europe. The project in Bihac, Bosnia, will strengthen the local economy once again and I'm happy to create new job opportunities for Bosnian citizens."
Vernon Smith, CEO of BioMaxx Systems Inc. comments; "BioMaxx Systems is very excited to be involved in the UNA Water ethanol project in Bosnia. A project of this size represents the first of its kind in Bosnia. This project will greatly benefit the local economy by providing jobs, by injecting money into the region, by making use of enriched and fertile land in the region of Bihac and makes pure economic sense. Our feasibility study will form the blueprint for a successful ethanol production facility in Bihac. UNA Water and BioMaxx Systems are equally committed to the environment and the reduction in the use of fossil fuels."
About UNA Water GMBH
UNA Water GMBH, based in Sonvilier, Switzerland, has secured contracts to supply ethanol to the Swiss market and has secured feedstock, land and required facilities to build a state of the art ethanol production facility in Bihac, Bosnia.
About Biomaxx Systems Inc.
Biomaxx Systems is a biotechnology consulting company that focuses on the development of innovative technology solutions to address our dependence on fossil fuels. The company develops technologies to produce clean fuels such as Ethanol and Hydrogen promoting clean, efficient alternatives that reduce harmful carbon dioxide emissions and Green House Gases.
Biomaxx Systems Inc. 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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