FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR August 2, 2007
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
(Exact name of Registrant as specified in its charter)
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Suite 230-1700 West 75th Avenue
Vancouver, BC
Canada V6P 6G2
(604) 267-6000
(Address of principal executive offices)
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[Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F:]
FORM 20-F X FORM 40-F
--- ---
[Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
YES NO X
--- ---
[If Yes is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b):] Not applicable
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
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DynaMotive Energy Systems Corporation (the "Issuer")
230-1700 West 75th Avenue
Vancouver, BC V6P 6G2
Tel. (604) 267-6013
Item 2 Date of Material Change
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August 1, 2007
Item 3 News Release
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Issued August 1, 2007 and disseminated via Business Wire.
Item 4 Summary of Material Change
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VANCOUVER, BC, Canada, August 1, 2007 - Dynamotive Energy Systems
Corporation ("Dynamotive") (OTCBB: DYMTF), and Mitsubishi Corporation
("Mitsubishi"), Japan's largest general trading and investment company
(sogo shosha) with over 200 bases of operations in approximately 80
countries worldwide, signed a letter of agreement ("LOA") whereby
development and strategic opportunities for cooperation are identified
and protocols are established to jointly advance them. The comprehensive
LOA between Mitsubishi's New Energy Business Unit, Business Innovation
Group, and Dynamotive lays out the framework for exploring areas of
cooperation in project development, finance, technology development,
product research and application, and fuel supply and trading. It also
recognizes Dynamotive's market potential in the field of cellulose based
fuels providing it and its partners a unique opportunity for growth.
Item 5 Full Description of Material Change
-----------------------------------
5.1 Full Description of Material Change
VANCOUVER, BC, Canada, August 1, 2007 - Dynamotive Energy Systems
Corporation ("Dynamotive") (OTCBB: DYMTF), and Mitsubishi Corporation
("Mitsubishi"), Japan's largest general trading and investment company
(sogo shosha) with over 200 bases of operations in approximately 80
countries worldwide, signed a letter of agreement ("LOA") whereby
development and strategic opportunities for cooperation are identified
and protocols are established to jointly advance them.
The comprehensive LOA between Mitsubishi's New Energy Business Unit,
Business Innovation Group, and Dynamotive lays out the framework for
exploring areas of cooperation in project development, finance,
technology development, product research and application, and fuel
supply and trading. It also recognizes Dynamotive's market potential in
the field of cellulose based fuels providing it and its partners a
unique opportunity for growth.
The Companies have worked cooperatively for the past 18 months, having
previously signed a Memorandum of Understanding with Mitsubishi Canada
Ltd. ("Mitsubishi Canada", see announcement Dec. 20, 2005), and have
identified projects and commercial opportunities that are earmarked for
early development. Each opportunity described in the LOA is subject to
negotiation of a definitive agreement between Dynamotive and the
corresponding business unit of Mitsubishi.
Included in the project opportunities are the current development in
Argentina (see announcement May 10, 2007) and other projects in Latin
America, project development in China where Dynamotive has worked in
cooperation with the National Development and Reform Commission (see
announcement Dec. 12, 2006), project opportunities in the US where
Dynamotive has an operating subsidiary and new project opportunities in
Japan and South East Asia, among others that are introduced by
Mitsubishi.
In addition, the LOA envisages project finance and supply of equipment
by Mitsubishi in line with the previous MOU signed between Dynamotive
and Mitsubishi Canada. Specifically, the Companies have agreed to
initiate preliminary discussion for the refinancing of Dynamotive's
current plant and equity participation in West Lorne. This plant has an
asset value of approximately U.S. $18 million, with the full output of
West Lorne contractually committed.
Fuel supply and trading: the LOA framework establishes parameters for
the possibility to supply BioOil(R ) from Evolution Biofuels (Guelph
Plant) to Mitsubishi for testing and market development purposes as part
of an overall expansion strategy. Plant production is rated at 50,000
tonnes annually.
Technology licensing: Mitsubishi has requested the licensing of
Dynamotive's technology for small plant capacity (20 tonnes and under)
for fabrication and marketing in Japan. Dynamotive is evaluating, as a
result of this request, the opportunity to deliver a 15 tonne per day
plant to Mitsubishi. Dynamotive currently has a plant of this capacity
that could be refurbished for this purpose.
5.2 Disclosure for Restructuring Transactions
N/A
Item 6 Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
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Not applicable
Item 7 Omitted Information
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Not applicable
Item 8 Executive Officer
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Contact: Andrew Kingston, President & CEO
Telephone: (604) 267-6013
Item 9 Date of Report
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August 1, 2007
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
(signed) "Andrew Kingston"
---------------
Andrew Kingston
President & CEO
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
News Release: August 1, 2007
Mitsubishi Corporation, Japan's Largest General Trading & Investment
Company, Signs Comprehensive Letter of Agreement with Dynamotive
Dynamotive Recognized as Leader and Innovator in Rapidly
Growing Cellulose Fuels Sector
VANCOUVER, BC, Canada, August 1, 2007 - Dynamotive Energy Systems
Corporation ("Dynamotive") (OTCBB: DYMTF), and Mitsubishi Corporation
("Mitsubishi"), Japan's largest general trading and investment
company (sogo shosha) with over 200 bases of operations in
approximately 80 countries worldwide, signed a letter of agreement
("LOA") whereby development and strategic opportunities for
cooperation are identified and protocols are established to jointly
advance them.
The comprehensive LOA between Mitsubishi's New Energy Business Unit,
Business Innovation Group, and Dynamotive lays out the framework for
exploring areas of cooperation in project development, finance,
technology development, product research and application, and fuel
supply and trading. It also recognizes Dynamotive's market potential
in the field of cellulose based fuels providing it and its partners a
unique opportunity for growth.
The Companies have worked cooperatively for the past 18 months,
having previously signed a Memorandum of Understanding with
Mitsubishi Canada Ltd. ("Mitsubishi Canada", see announcement Dec.
20, 2005), and have identified projects and commercial opportunities
that are earmarked for early development. Each opportunity described
in the LOA is subject to negotiation of a definitive agreement
between Dynamotive and the corresponding business unit of Mitsubishi.
Included in the project opportunities are the current development in
Argentina (see announcement May 10, 2007) and other projects in Latin
America, project development in China where Dynamotive has worked in
cooperation with the National Development and Reform Commission (see
announcement Dec. 12, 2006), project opportunities in the US where
Dynamotive has an operating subsidiary and new project opportunities
in Japan and South East Asia, among others that are introduced by
Mitsubishi.
In addition, the LOA envisages project finance and supply of
equipment by Mitsubishi in line with the previous MOU signed between
Dynamotive and Mitsubishi Canada. Specifically, the Companies have
agreed to initiate preliminary discussion for the refinancing of
Dynamotive's current plant and equity participation in West Lorne.
This plant has an asset value of approximately U.S. $18 million, with
the full output of West Lorne contractually committed.
Fuel supply and trading: the LOA framework establishes parameters
for the possibility to supply BioOil(r) from Evolution Biofuels (Guelph
Plant) to Mitsubishi for testing and market development purposes as
part of an overall expansion strategy. Plant production is rated at
50,000 tonnes annually.
Technology licensing: Mitsubishi has requested the licensing of
Dynamotive's technology for small plant capacity (20 tonnes and
under) for fabrication and marketing in Japan. Dynamotive is
evaluating, as a result of this request, the opportunity to deliver a
15 tonne per day plant to Mitsubishi. Dynamotive currently has a
plant of this capacity that could be refurbished for this purpose.
About Mitsubishi Corporation ("Mitsubishi")
Mitsubishi Corporation is Japan's largest general trading & investment
company (sogo shosha). Together, with its over 500 group companies,
Mitsubishi employs a multinational workforce of approximately 54,000 people.
Mitsubishi has long been engaged in business with customers around the world
in virtually every industry, including energy, metals, machinery, chemicals,
food and living essentials.
Mitsubishi seeks to contribute to the enrichment of society through business
firmly rooted in principles of fairness and integrity.
Mitsubishi's New Energy Business Unit, Business Innovation Group, works on
the development of new energy to supplement and replace fossil fuels, such
as solar batteries, fuel cells, and biomass fuels. In addition, the group
finances a variety of businesses by creating a clean energy fund.
About Dynamotive
Dynamotive Energy Systems Corporation is an energy solutions provider
headquartered in Vancouver, Canada, with offices in the USA, UK and
Argentina. Its carbon/greenhouse-gas-neutral fast pyrolysis technology uses
medium temperatures and oxygen-free conditions to turn dry, waste cellulosic
biomass into BioOil for power and heat generation. BioOil can be further
converted into vehicle fuels and chemicals. The final stages of the
commissioning process at the Guelph plant and the reconstruction of the West
Lorne plant may be seen by viewing photographs regularly posted on the
company's website at www.dynamotive.com
About BioOil(R)
BioOil is an industrial fuel produced from cellulose waste material. When
combusted it produces substantially less smog-precursor nitrogen oxides
('NOx') emissions than conventional oil as well as little or no sulfur oxide
gases ('SOx'), which are a prime cause of acid rain. BioOil and BioOil
Plus(tm) are price-competitive replacements for heating oils #2 and #6 that are
widely used in industrial boilers and furnaces. They have been EcoLogo
certified, having met stringent environmental criteria for industrial fuels
as measured by Environment Canada's Environmental Choice Program. BioOil can
be produced from a variety of residue cellulosic biomass resources and is
not dependent on food-crop production.
Contacts:
Nathan Neumer, Director of Communications
Dynamotive Energy Systems Corporation
604-267-6042
Switchboard (604) 267-6000
Toll Free (North America) 1-877-863-2268
Fax (604) 267-6005
Email: info@dynamotive.com
Website: www.dynamotive.com
Forward Looking Statement
Statements in this news release concerning the company's business outlook or
future economic performance; including the completion of definitive legal
agreements, consortiums, teaming agreements, or other financial items; and
statements concerning assumptions made or expectations as to any future
events, conditions, performance or other matters, are "forward-looking
statements". Forward-looking statements are by their nature subject to
risks, uncertainties and other factors which could cause actual results to
differ materially from those stored in such statements. Such risks,
uncertainties and factors include, but are not limited to, changes in energy
prices, availability of capital, and the Company's ability to access capital
on acceptable terms or any terms at all, changes and delays in project
development plans and schedules, customer and partner acceptance of new
projects, changes in input pricing, competing alternative energy
technologies, government policies and general economic conditions. These
risks are generally outlined in the Company's disclosure filings with the
Securities and Exchange Commission.