BAE for commercial coatings ?Lignol Announces Memorandum of Understanding with BAE Systems PLC.
Article from: CNW Group | July 22, 2009 | Copyright CNW Group (Hide copyright information) Copyright
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VANCOUVER, Jul 22, 2009 (Canada NewsWire via COMTEX) -- Lignol Energy Corporation (TSX-V: LEC) ("Lignol" or "the Company"), a leading technology company in the cellulosic ethanol and biorefining sector, and BAE Systems PLC (LSE: BAES.L) ("BAE Systems") announced today the signing of a memorandum of understanding to explore and develop commercial applications for biochemicals from the Lignol biorefinery process that have use or synergies within BAE Systems' business, as well as financing of cellulosic ethanol projects.
"Lignol is delighted to be collaborating with BAE Systems, a global company engaged in the development, delivery and support of advanced defence, security and aerospace systems," said Ross MacLachlan, President and CEO of Lignol. "Over the next few months we will be exploring a wide range of potential applications for our high purity lignins and other biochemicals which have synergies within BAE Systems business. The objective of both parties is to formalize a joint development agreement and subsequent work plan to incorporate Lignol's biochemicals within BAE Systems business," continued …