Gaming Realms Regulatory News (GMR)

11 Jun 2007 07:02

Pursuit Dynamics PLC11 June 2007 Date: 11th June 2007 On behalf of: Pursuit Dynamics PLC Embargoed until: 0700hrs Pursuit Dynamics PLC ("Pursuit Dynamics" or "the Company") Research and Development Update - Bioethanol Pursuit Dynamics PLC (AIM: PDX), developer and exploiter of the PDX platformtechnology, announces that it has now completed Phase 1 of the internalbioethanol trials programme that it commenced in December 2006. Background Bioethanol is currently produced commercially from two principal sources:starchy materials such as cereal grains and from sugar cane. It is also possibleto produce ethanol from cellulosic materials such as grasses, wood chips andother organic waste products but extraction is more complex and this process iscurrently the focus of major research and development projects around the globe. The production of bioethanol from cereal crops comprises several stages - apre-treatment stage, which activates the starch in the maize and providesglucose and other sugars to the fermentation stage, and a distillation stage,which produces the ethanol. The co-products from this process are normally soldon as cattle feed in the form of wet or dry distillers grains. Our currentresearch and development concentrates on the pre-treatment stage. In order to produce ethanol from cereal grains, the starch must first be brokendown into sugars. In bioethanol production, the transformation of starch intosugars is accomplished more rapidly by treating the starch with fungal amylaseenzymes. Similarly cellulosic materials, which also contain sugars, have to bebroken down but in these materials the process is much more difficult. Introduction - Phase 1 Trials Our trials to date (Phase 1 of our programme) have focused principally on thepotential application of the PDX reactor to increase yields, reduce process timeand reduce operating costs, in conventional "starch to ethanol" production,which we refer to as Generation 1. However, Phase 1 also investigated thepotential for the PDX reactor to enable the conversion of cellulosic material toethanol (Generation 2), especially co-product materials created during the"starch to ethanol" production process. Generation 1 - "Starch to Ethanol" Conversion Phase 1 testing was carried out in 150kg batches with approximately 2,500samples taken in 48 trial sequences. External laboratories were used to validateresults in a number of trials. The findings from Phase 1 are as follows: • The Company achieved a repeatable, externally verified, average yield increase equivalent to 7% per bushel of maize. • These yield improvements were achieved with no increase in energy usage above that used in conventional production methods. • These improved yields were achieved with a significant reduction in the level of time taken and amount of enzyme used. • These results have been achieved using a non-optimised PDX reactor system. • Preliminary results, which are yet to be externally verified, also indicate that using an enhanced, optimised PDX reactor system an average yield increase in excess of 7% per bushel of maize can be achieved. The results are derived from the analysis of glucose concentrations in a maizefeedstock provided by a major US ethanol manufacturer. Having been processedthrough a non-optimised PDX reactor system, Pursuit Dynamics achieved externallyverified yield equivalents that averaged 3.0 US gallons of fuel ethanol perbushel of maize. These findings were repeated and externally verified a numberof times. They represent an approximate 7% improvement in yield when comparedagainst current production process yields in the US of between 2.7 and 2.8gallons of fuel ethanol per bushel of maize. When processing maize through an enhanced PDX reactor system, Pursuit Dynamicshas repeatedly measured yield equivalents in excess of the 7% per bushel ofmaize reported above, although these results are yet to be externally verified.It is the Company's belief that these improved yields will pass externalverification and will form the main focus of our development programme goingforwards. Generation 2 - "Cellulosic Material to Ethanol" Conversion The results on the conversion of cellulosic materials to ethanol are derivedfrom the analysis of glucose concentrations in Wet Distillers Grain and DryDistillers Grain, which are co-products produced in the conventional "Starch toEthanol" production process. These materials were provided by a major US ethanolproducer. • Using a non-optimised PDX reactor system, the Company's trial results indicate that: • 83% of the total cellulosic content of Wet Distillers Grain was converted to fermentable sugars • 88% of the total cellulosic content of Dry Distillers Grain was converted to fermentable sugars (the fermentable sugar content in the Dry Distillers Grain test was externally verified) • Both trial sequences recorded the results stated above in under four minutes. Phase 2 Trials Phase 2 of our Research & Development programme on bioethanol is now underway.We are focussed on optimising the PDX technology in conventional "starch toethanol" production and continue to investigate the opportunities to usecellulosic materials in the production of bioethanol. Commenting on the trial results, John Heathcote, CEO of Pursuit Dynamics PLC,said: "The results of Phase 1 of our bioethanol trials programme are extremelyencouraging. We believe that the increase in yields in the "Starch to Ethanol"process created by the application of the PDX reactor system, if scalable,represent a very important development in the bioethanol industry. "Similarly, the findings on the conversion of cellulosic material to ethanol areextremely promising and clearly demonstrate the potential application of the PDXtechnology in the production of bioethanol from cellulosic material. We have already started the commercialisation process of our technology inGeneration 1 applications (starch to ethanol). We have completed preliminarydesigns for a full-scale pre-treatment system and we are currently reviewingseveral commercial opportunities with a number of major participants in theethanol industry. -ends- For Further Information, please contact: Pursuit DynamicsJohn Heathcote, Chief Executive Tel: 01480 422050 Redleaf CommunicationsEmma Kane / Paul Dulieu / Tom Newman Tel: 020 7822 0200 Notes to Editors Pursuit Dynamics PLC (AIM: PDX) owns and commercialises the PDX fluid processingreactor whose benefits include significant reductions in energy usage, processacceleration and result enhancement for industries such as Food & Drink,Brewing, Fire Suppression, Decontamination and bioethanol production. Pursuit Dynamics is headquartered in Huntingdon, UK and has an office inNorwalk, Connecticut, USA. Pursuit Processing Equipment, the processingequipment division of Pursuit Dynamics, operates from its own facility inBrooklands, Surrey, UK. Further information is available at the Company's website:www.pursuitdynamics.com Publication quality photographs are available from Redleaf Communications. This information is provided by RNS The company news service from the London Stock Exchange