Discovery Minerals Ltd. created a JV with Syngar Technologies and has extended an exclusive North American license with Cellunol Inc. (JV between ANW Inc. of South Africa and Syngar).
Cellunol’s proprietary technology will be deployed through a pilot project set up with one of Discovery’s Industrial Hemp growing partners. The objectives are to determine the overall cost reductions and increases in ethanol production, resulting from the technology. A typical 600 acre hemp parcel can potentially expect to generate $1.6 million in revenue and $1.13 million in profit, not including the possibility of applying for available carbon tax credits.
Hemp producing farmland yields approximately 189,000 plants per acre which produces 700 lbs of grain (seed) and 1.5 tons of stalk. Approximately 70% of the 1.5 tons of stalk is the inner hurd core with the remainder being the coveted rope-like fiber or bast. Half the stalk is reclaimed as the dried dead male plants along with any premature stalk material pass through the processing unit. A typical field size of 600 acres should yield about 315 tons of cellulose hurd and 135 tons of the more valuable four foot long green ribbon bast fiber. This estimated yield should generate approximately $1.686 million dollars offset by input costs of $557,000.
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