Vancouver's Lignol Energy Corp. (TSX-V:LEC) has signed an agreement with Suncor Energy to develop a commercial demonstration ethanol facility in Grand Junction, Colorado.
Suncor has agreed to help Lignol with preliminary development of the project. The project also provides that the two companies can negotiate a comprehensive joint venture agreement to commercialize Lignol's technology. The agreement is expected to be completed by January 15, 2009.
Lignol, which develops ethanol from cellulose, recently completed construction of its industrial bio-refinery pilot plant in Burnaby.
Lignol's share price range in the past week: between $0.25 and $0.30; 52-week high: $1.29; 52-week low: $0.22.