Feb. 19, 2010, Vancouver – Dynamotive Energy Systems Corporation, a developer of bio-oil and
associated products, has decided to explore certain strategic alternatives
available to the company. Dynamotive CEO, Andrew Kingston, says that the board
of directors has authorized the engagement of Cascadia Capital, an investment
banking firm, as its financial advisor to assist the company in exploring
strategic alternatives that could include a possible commercial joint venture
“In light of
the recent accelerated activity in the biomass-to-energy market, from project
proliferation to technology scale-ups and consolidation throughout the supply
chain, as well as recent expressions of interest by third parties in possible
transactions with the company, it is now appropriate to initiate an external
process to formally explore strategic alternatives,” states Kingston.
The company says
that it does not intend to disclose developments regarding the review of
strategic alternatives, other than the retention of its investment bank,
Cascadia Capital, unless and until an agreement has been reached.