DynaMotive, Cos Phi, Magellan Aerospace, and Erie Flooring and Wood Products Enter into MOU for Power Project in Canada

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DynaMotive, Cos Phi, Magellan Aerospace, and Erie Flooring and Wood Products Enter into MOU for Power Project in Canada

CANADA, Nov. 7 -/E-Wire/-- DynaMotive Energy Systems Corporation (OTCBB: DYMTF) announced today that it has entered into a Memorandum of Understanding to conduct feasibility studies for the development of a power project in Canada whereby wood residue from Erie Flooring and Wood Products would be converted into BioOil to power a Magellan Aerospace 2.5 MW GT 2500 turbine. The project under consideration would have maximum capacity of 4MWe. Project feasibility studies will be led by COS PHI (www.cosphi.com) who has a proven record in technical and economic evaluation, investment and execution of industrial projects in Canada.

"We believe that this project is representative of the many opportunities that lie within industry" said Rodolfo Guido, Director of International Marketing and Trading of DynaMotive, "where the combination of residue disposal costs, energy requirements, and environmental incentives for the reduction of greenhouse emissions establish fertile grounds for DynaMotive's BioOil process."

"This is a very exciting breakthrough in the energy field and in the environmental area" said Peter Kratochvil, President of Cos Phi. "Cos Phi is very honoured to be associated with this new technology from DynaMotive."

Raj Thamburaj, Director of Advanced Materials and Energy of Orenda (www.orenda.com) said, "Magellan Aerospace is taking every effort to make its gas turbine technology a competitive and viable solution for the efficient utilization of biomass liquid fuel. Necessary modifications are being proven to rigorous standards in preparation for commercial roll out. This project is one of the many commercial opportunities that we expect would be open to our technology."

DynaMotive currently has in its portfolio 69 MWe of power generation projects in the UK and is currently building its first integrated plant. The Company is actively pursuing further opportunities in Europe and North America . Through its network of partners, the Company is also in preliminary stages for the development of similar projects in island economies and other key markets. The Company intends to establish itself as the predominant provider of pyrolysis based energy solutions.

Forward Looking Statement Statements in this news release concerning the company's business outlook or future economic performance; anticipated profitability, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission.

DynaMotive Energy Systems Corporation

http://www.DynaMotive.com

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