EcoSystem Corporation (ESYM) announces new technology
Posted on: March 18th, 2009Written by:
EcoSystem Corp (OTCBB: ESYM) shares jumped six percent over Tuesday’s closing price after the company announced new technology to be implemented in converting food scrap waste into natural oils for biodiesel feedstock and various specialty chemical applications.
The company introduced MAGFUEL biofuel feedstock model, which employs the use of the Black Soldier Fly to convert food scrap waste. EcoSystem predicts its conversion technology could yield up to 190,000 gallons of crude natural oils per acre of bioreactor surface annually, which far surpasses the 40 gallons of oil per acre annually yielded by soybeans.
At the core of EcoSystem’s bioreactor technology is the use of the Black Soldier Fly, a insect commonly used compost and manure management. The company estimates estimates that 25% of the volume of retail, restaurant, and industrial generated food waste could be converted into Black Soldier Fly larvae. Based upon U.S. 2010 Census data, up to 100 million gallons per year of MAGFUEL(TM) natural oils could be produced and sold to U.S. biodiesel producers using EcoSystem technology.
Glen Courtright, President and CEO of EcoSystem commented “Competitively-priced feedstock has always been a challenge for the biodiesel industry. We are excited to develop this competitively priced, high quality feedstock to the biodiesel industry by diverting food scrap waste from landfills. We are in discussions now with a number of very interested early-adopter partners for co-location of our bioreactor technology.”
EcoSystem plans to market the MAGFUEL into the existing biodiesel industry as a blending agent for lower grade biodiesel feedstocks. The company’s revenue model will be comprised of tipping fees associated with the transfer and processing of scrape waste materials, as well as MAGFUEL and other product sales.
