LOS ANGELES, January 17 /PRNewswire/ --
BioGold Fuels Corporation, in a joint venture with Bioteknia, has entered into a letter of intent to build a waste to fuel production facility in the Dominican Republic. Bioteknia will provide the contracts for the land to build the plant, the supply of waste for processing and the purchase of the resulting fuel and energy. Bioteknia will also secure the necessary governmental permits to build and operate the plant. BioGold will provide the technology and know how to build and operate the plants, as well as the funding necessary for construction.
"BioGold is excited to be expanding our operations into the Dominican Republic," said BioGold's CEO, Steve Racoosin. "This plant will be a flagship for the waste to energy marketplace. This is the first step towards achieving BioGold's global goal of eliminating the waste just sitting in our landfills and converting it to renewable energy and fuels."
BioGold Fuels(TM) Corporation is seeking to develop, acquire, license and commercialize patented and proprietary technologies that its management believes will allow a significant amount of municipal solid waste to be recycled into synthetic diesel fuel and other renewable fuels to address the multi-billion dollar diesel fuel market in the United States and the world. A major component of MSW is paper-based material, hydrocarbon-based material, and other high-energy value feedstocks.