Syntec finalizes catalyst technology transaction

Vancouver, British Columbia-based Syntec Biofuel Inc. has accepted a $3 million private placement offering from Wood Energy Resources LLC, in which Syntec acquired the intellectual property and ethanol catalyst technology assets to convert biogas and syngas into ethanol, biobutanol, methanol and propanol. Syntec, a leader in ethanol catalyst conversion technologies, began to commercialize its processes in November, according to Syntec President Michael Jackson. The company has devoted its research and development efforts to catalysts since 2001, and has further refined efficiencies in-house.