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We are delighted to announce that Licella has signed an agreement to form a joint-venture with Canfor Pulp Ltd, a leading global supplier of pulp and paper products, to be named ‘Licella Pulp Joint Venture’.
- This joint venture will move Licella into the lucrative North American biofuels-biochemical market, where greater value and opportunity exist vs the current conventional oil market. Within the North Amercian markets exists the opportunity today to sell a barrel of biocrude oil for between USD$120-$140.
- Licella Pulp Joint Venture is a strategic relationship between the two companies that will investigate opportunities to integrate Licella’s unique Catalytic Hydrothermal Reactor (Cat-HTR) upgrading platform into Canfor Pulp’s kraft and mechanical pulp mills to economically convert biomass, including wood residues from Canfor Pulp’s kraft pulping processes, into biocrude oil, to produce next generation biofuels and biochemicals.
- This agreement follows a successful program of trials at Licella’s pilot plants conducted on feedstock from Canfor Pulp’s Prince George (British Columbia) pulp mill.
- In these trials, wood residue streams from Canfor Pulp’s kraft process were successfully converted into a stable biocrude oil. Upon successful integration of the Cat-HTR technology, the Licella Pulp Joint Venture would look towards offering this solution to other third party Kraft and mechanical pulp mills.
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