Thursday, March 22, 2007

NZ: New expertise for biofuel company


Biodiesel developer Aquaflow Bionomic says it has made two important
strategic appointments which mark a "new milestone" in its domestic and
international development.

It has recruited top United States energy sector expert, James LoGerfo
of New York, as its US-based energy sector specialist advisor and
appointed Paul Dorrington as chief technology officer.

Aquaflow director, Nick Gerritsen, said Dr LoGerfo's appointment was a
"real coup" and would ensure the company, which is developing pioneering
biodiesel technology using wild algae from the Blenheim sewage ponds,
had access to the best information on the global energy market.

"Jim has exceptional financial and technical expertise in a broad range
of energy and environmental technologies. He will give us a clear idea
of where we fit in our global peer group," Mr Gerritsen said.

Dr LoGerfo is active in investment banking through Bovaro Partners, and
in strategic consulting and investment research through Vortex Energy
and affil-iated entities.

During his 10 years on Wall St, Dr LoGerfo has advised, researched,
invested in and raised capital for a host of energy technology companies.

He has received numerous awards and recognition for his leadership in
energy technology investment analysis and finance. Dr LoGerfo holds a
PhD from New York's Columbia University, and is a chartered financial

Meanwhile, Aquaflow has also appointed Nelson chemical and process
engineer Paul Dorrington as chief technology officer.

Mr Dorrington was previously technical manager for Extract Solutions in
Nelson and was responsible for commissioning and operating the only
supercritical CO2 extraction plant in the Southern Hemisphere.

"Paul has proven experience in designing and building a commercial
processing plant and will drive our research programme for the next 18
months," Mr Gerritsen said.

The appointments showed that Aquaflow had made significant progress and
was preparing for its next stage of development, he said.

"We are moving fast and we need access to top expertise and skills."

Aquaflow completed a successful test-drive of the world's first wild
algae-based biodiesel in December 2006.

The company intends to increase capacity to produce one million litres
of biodiesel over the next year from algae sourced from the Marlborough
sewerage ponds.

It also expects to launch a pilot programme in the US and elsewhere
within 12 months.

Since the test drive Mr Gerritsen said Aquaflow had had tangible
interest from three top United States venture capital firms, and
commercial discussions are underway with parties from the United
Kingdom, Australia and Asia.

The company has also launched its prospectus to prospective New Zealand

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