Palm | Kelapa Sawit

LONDON & PLANT CITY, FL – Kwikpower International plc, a diversified renewable energy and fuels company offering ‘carbon recycling’ solutions, and UTEK Corporation (AMEX: UTK; LSE-AIM: UTKA), an innovative technology transfer company, announced today the completion of a technology transfer to Kwikpower International in a securities exchange transaction.

The technology transferred is the licence to a process enabling the continuous conversion for onward sale of plant-based oils into bio-diesel using a mobile refinery. This system uses a tubular oscillatory flow reactor and was demonstrated for the first time at the Clean Energy Technology Show in London earlier this year. Conventional bio-diesel plants require the use of large tanks which must be emptied and cleaned after each batch.

A substantial potential market for bio-diesel has been created by the European Directive 2003/30/EU which sets a target that, by the end of 2005, 2% of all road transport should be powered by bio-fuels, aiming for 5.75% by 2010. The UK government provides a rebate of 20p on the duty of every litre of bio-diesel. The technology was developed by Professor Malcolm Mackley and his team in the Department of Chemical Engineering at the University of Cambridge and is being licensed by Cambridge Enterprise on behalf of the University.

Dr. Jim Watkins, CEO and Chairman of Kwikpower International said: “This technology transfer of the bio-diesel intensification process with Cambridge and UTEK will allow us to rapidly expand Kwikpower's opportunities in the bio-fuels markets. We see major growth opportunities in both the USA and Europe.

“Our KP Wellman engineering subsidiary is already working on integrating the new reactor design into an innovative continuous production module which will fit into a 40 ft container. This technology offers real promise to allow us to reduce the time and cost of production of bio-diesel from a variety of feedstocks, allowing bio-diesel to compete on a level playing field with crude oil derived diesel.”

Dr. Clifford M. Gross, CEO and Chairman of UTEK said: “We are very pleased to have completed our first technology transfer to a UK based company since UTEK’s admission to AIM in April this year. It demonstrates clearly that our U2B technology transfer model works well on both sides of the Atlantic and can be used by UK companies to develop their product portfolio with university discoveries.”