Transportation & Fuel Source Technology
Liquidyne Fuels, Inc. Announces Status Update for Proposed Bio-Ethanol Plant
Liquidyne Fuels, Inc, a subsidiary of Nuclear Solutions, Inc, announced today the company's plans to construct, own, and operate a fuel-grade ethanol facility in Iowa are moving ahead and issued a status update.
Liquidyne announced that it has reached an agreement in principle with Delta-T Corporation (www.deltatcorp.com
) to design the Creston plant with an anticipated production capacity of 50-60 million gallons per year. The company is planning to finalize a project development agreement with Delta-T in the coming weeks. Headquartered in Williamsburg, VA, Delta-T is a design-build firm that provides alcohol plants, systems, and services to the Ethanol fuel markets. Delta-T is known for pioneering many of the recent innovations currently in use by the newest generation of ethanol plants, including molecular sieve dehydration, zero discharge of process wastewater, and more efficient refining and purification systems to produce high quality ethanol. Since 1984, Delta-T has provided services to more than 120 clients worldwide and has more than 1 billion gallons of ethanol projects completed or underway.
The company also announced the retention of HDR Engineering of Omaha, Nebraska for civil engineering relating to site development, including rail transportation, site layout and land requirements, and water and waste water issues. HDR is one of the leading permit engineering firms in the United States and will coordinate the air permits for the Creston facility. HDR is currently providing construction management and similar site management activities for more than a dozen ethanol plants across the United States, including the VeraSun 100 million gallon per year plant being built in Indiana.
Additionally, Liquidyne, is developing a strategic alliance with DeBruce Grain, a major U.S. grain aggregator with grain elevators and additional resources close to the site, to ensure a stable gain supply for the facility.
A full feasibility study has been completed and identified Creston as an excellent site for a contemporary fuel-grade facility. The site was selected because of excellent access to rail and road, adequate utilities, and an abundance of corn in the immediate area. The company currently holds an option to buy the land and anticipates negotiation for the purchase of the land in the coming weeks.
"Our project developers are assembling a top notch team of professionals including Delta-T, HDR Engineering and DeBruce Grain. Together with outstanding transportation routes and available feedstock, this project meets all the initial criteria for a winner. While this project is clearly beginning to come together, we are still at an early stage of development. We plan on initiating meetings with the community and local leadership in the next couple of weeks to officially present this project to the community for their feedback. Additionally, once a few more project fundamentals are tied down, we will need to seek the balance of funding for this facility. We anticipate raising debt and equity financing to meet the capital requirements needed to construct this facility," said Patrick Herda, CEO of Nuclear Solutions, Inc., the parent company of Liquidyne Fuels, Inc. Liquidyne Fuels, Inc. and their project developers will be meeting in Omaha in the next few weeks to finalize details on Creston and continue early stage development on several other sites currently under consideration.
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing, and commercializing viable products in the areas of alternative fuels, nanotechnology, environmental technology, homeland security and defense. In August 2006, Nuclear Solutions, Inc. established Liquidyne Fuels, Inc., a subsidiary implementing its own unique business model to to establish multiple bioethanol plants using Startech Environmental Corporation's Plasma Converter technology as part of a waste-to-energy hybrid approach for bioethanol production. The Liquidyne Fuels business model virtually eliminates the use of fossil fuels such as natural gas and coal that are normally consumed during the production of conventional fermentation-based ethanol. With its global Strategic Alliance Agreement with Connecticut-based Startech Environmental Corporation, Liquidyne gains access to Startech's innovative, proven and proprietary Plasma Converter System, which is planned for use in proposed facilities to supply the energy to produce ethanol. Currently, Liquidyne Fuels, Inc. report their operations and financial results on a consolidated basis within Nuclear Solutions, Inc.'s public filings. To learn more, explore www.nuclearsolutions.com
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