DynaMotive President & CEO Outlines Objectives For 2002

ARCHIVED 2002–2016: Originally distributed via the eWire press wire service. Preserved as historical record.

SUBSCRIBE/UNSUBSCRIBE |

Conservation & Wildlife

Corporate Responsibility

Science & Technology

Syndication Partners

**************************************************************************

E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE

**************************************************************************

For Immediate Release

Attention Business Editors:

DynaMotive President & CEO Outlines Objectives For 2002

Launches New Website

CANADA, BRITISH COLUMBIA, VANCOUVER, Jan. 8 -/E-Wire/-- DynaMotive Energy Systems Corporation (OTCBB:DYMTF)President and CEO, Andrew Kingston, outlined today the objectives for 2002, recognized the achievements of 2001 and launched the Company's new website (www.DynaMotive.com). Mr. Kingston said:

"DynaMotive's commitment to success was clearly demonstrated last year. Despite many challenges in 2001, the Company achieved the greatest progress in its 10-year history. This was made possible through groundwork laid out in 1999 and 2000, where key objectives were established and the strategic path charted. The Company was firmly committed to achieving its goals while remaining flexible enough to adapt its strategies to deal with an uncertain economic climate.

"In 2002, the Company will continue to face the inevitable economic challenge that any emerging company faces - the challenge of having to continue its investment in infrastructure and resource development, while not yet generating commercial revenues. To succeed, we must continue our swift progress, complete construction of our first power plant in Europe and establish commercial opportunities in Canada, the US and Brazil; where the company has already established a presence. In this regard, the Company is working jointly with Strategic Partners, Government Agencies and its Financial Advisors to structure appropriate funding sources. In the past, DynaMotive has been the recipient of substantial grants and development loans that have reduced significantly its financing requirements. In 2002, we expect to continue this trend.

"We parallel the Oil Industry in areas of investment relating to prospecting and exploitation of vast reserves of oil. The oil industry attracts massive investment and receives substantial government incentives for such investments. In many countries, Bio Oil reserves stand as areas of wood and agricultural residues, establishing fertile grounds for inward investment. We must establish our Bio Oil reserve base and demonstrate to industry and government, the benefits of our technology as an enabling tool, and in doing so, establish the same investment benefits that are afforded to traditional oil.

"As an example, Canada produces over 18 million tonnes of forest residue per year; every year the forest industry pays millions of dollars in disposal costs and in acquiring energy for its operations. To this number, we can add the vast agricultural residues that Canada also produces. This adds up to what could become VAST, PROVEN and SUSTAINABLE RESERVES of BIO OIL, turning a cost into an opportunity, reducing reliance on fossil fuels, enhancing the energy mix and creating a sustainable energy future.

"In 2001, DynaMotive demonstrated its technological capabilities abroad and is now recognized as a credible force in the biomass-to-bio oil arena. The Company has already established a permanent presence in Europe through its London office, in the US with offices in Los Angeles and Miami, and in Brazil, where it has partnerships with Intracom and Cosan Bon Jesus. Its progress has also attracted the interest of industries in countries as far as Australia, India, South Africa, and China, as well as, other countries with a strong agricultural base and a reliance on fossil fuel imports. In 2002, the Company must continue to map these potential reserves of bio oil and establishing agency and licensing agreements in these key markets.

"DynaMotive's position in the pyrolysis "wave" has come as a result of a dedicated effort by management and the support of industry, entrepreneurs and government. In Canada, companies like Pyrovac, Ensyn and DynaMotive, as well as the Bio Mass Technology Group of Europe have lead the way and created a path for others to follow. This has already begun. Fortum of Finland (a major oil and gas company) announced last year an investment in and the construction of a further Fast Pyrolysis platform. At DynaMotive, we believe that the steps that we have taken with our partners (Orenda, Canfor, Tecna, Cosan Bon Jesus, Border Bio Fuels, Intracom and others) puts us in a strong competitive position. We believe that a healthy industry must have various platforms and expect to see positive progress by many of these companies later this year. In 2002, we will move aggressively to consolidate and expand the reach for our platform, in what is clearly an emerging technology and commodity.

"Finally, in 2002, the Company must continue to build a professional and dedicated management team, continue to attract credible industry partners, gain expertise, financial strength and market reach. We must also continue to fund our operations and structure our first commercial licensing agreements. The main challenges for 2002 also create the greatest opportunities. Resolving them effectively will make DynaMotive the leader in renewable energy solutions.

"DynaMotive's corporate Website discusses, in detail, the Company's objectives, achievements and corporate strategy. It is an interactive tool that will allow shareholders, investors, partners and interested parties to have more and better information on the Company. We have also included our corporate video, which shows our plant and the impact that Bio Oil can have on the energy mix. We encourage people to visit the site and to write to us with comments and inquiries."

To highlight DynaMotive's main achievements for 2001 (Full details can be found in our website):

Technical Achievements:

- 10 ton per day plant completed, commissioned, record production ofBio Oil and Char, plant upgraded, resulting in lower operation costs and improved efficiencies. Material reductions in plant capital costs.

- Success of 10 ton per day plant resulted in skipping previously planned 25 ton per day scale up, resulting in 1 1/2 year advance in commercialization program.

- 100 ton per day plant designed. Modular design strategy implemented allowing for multiple plants to be built simultaneously.

- Record Bio Oil production and shipment to engine partners.

- Bio Oil characterization completed.

- Char produced proven effective for briquette manufacturing at industrial scale, creating second revenue stream potential.

Commercial Achievements:

- Acquisition of Border Biofuels Ltd. giving access to 69 Mwe of power purchase agreements in the UK under the Non Fossil Fuels Obligation Act.

- Partnership Orenda / Border Biofuels Ltd. for the construction of first pyrolysis oil fired power plant in the world.

- Development Partnership with Canfor (Canadian Forest Products) for forest residue based energy systems. - Alliance with Tecna SA, accessing proven technical and engineering capabilities.

- Alliance with Ecosecurities, accessing specific know-how in Carbon and Environmental Credit trading as well as financial engineering for Renewable projects.

- Memorandum of Understanding for the developments of projects in the US(New Hampshire), Canada (Ontario) and in Brazil with Intracom (an international oil trading company).

Financial and Management Structuring:

- The Company raised in excess of $ 5.2 million in the year 2001 in private placements.

- Grants awarded to the Group exceeded $ 1.6 million.

- Received Favorable opinion by NRCan on the eligibility of its technology to receive favorable tax treatment as renewable energy equipment.

- Divested its non core operations (Metal Cleaning) and streamlined management

- reduction in overheads in the year exceeded $ 750,000.

- Appointed Mr. Rodolfo Guido as head of International Development

- Through the acquisition of Border Biofuels Ltd, accessed a proven project development team, adding to the expertise accessed through strategic alliances with Tecna and Ecosecurities.

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

**************************************************************************

To Transmit Your News Over E-Wire, visit http://www.ewire.com or

call 1-[REDACTED-PHONE]. E-Wire Is Broadcast To Millions Of Readers Worldwide

**************************************************************************