BOULDER, CO - Vencor International (OTC PINK: VCOR) says its torrefied wood pellet capacity will be greatly increased and costs lowered as it acquires exclusive rights to Torretherm's wood processing technology.
The two companies announced an agreement that will give exclusive rights to Virginia based Torretherm, Inc.'s special torrefaction equipment and technology to Vencor.
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Vencor says the technology will increase its production capacity to meet the growing demand for torrefied wood products, used in electric power generation to repalce coal. Torrefaction heats the wood to render a consistent level of water and a more stable product. Vencor says Torretherm's torrefaction equipment is capable of producing five tons of torrefied pellets per hour.
"This is probably the most significant move we've made to date," says James Gaspard, CEO of Vencor International, Inc. "Production capacity has been a serious concern of mine since arriving at Vencor. We have deals that we haven't been able to make because we didn't have sufficient capacity."
Gaspard says the first wood pellet torrefaction machine, to go online in January 2015, will increase production capacity by 30,000 tons annually. "The cost of the Torretherm machine is a fraction of the cost of other torrefaction machines currently being marketed," he says.
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