Dynamic Energy Alliance Corp., a small, development-stage renewable energy company, will move its corporate headquarters from Memphis to Dallas, the company announced Tuesday morning.
Dynamic Energy has an office in Clark Tower in Memphis but doesn't have many employees here.
The company announced in October it had secured and option on a 10-acre site in Ennis, Texas, which is just south of Dallas, for what it called its first, fully operational Pyrol Black Energy Campus. The company owns processes to make synthetic oil, carbon black, gas and carbon steel from abandoned tires.
"Relocating to Dallas is a practical move for Dynamic Energy as it is close to our future energy campus in Ennis, Texas and a more easily reachable destination for partners and associates," said Charles R. Cronin Jr., company chairman.
The Ennis site has a "substantial tire feedstock" and an existing 2,000-ton per year tire recycling business and buildings totaling 32,000 square feet. The company's option price for the facility was slightly more than $1 million.
In a February letter to shareholders, Cronin explained the company's technology, called "pyrolysis." Materials are heated high enough to produce light hydrocarbons and char, basically the same process that produces oil and convention diesel fuel, Cronin explained.
"A resulting substance called Pyrolytic Oil, or Bio-Oil, can be made into transportation fuels, plastics and other products," the letter said.
Illinois-based Mammatech Corp, a renewable energy development company, bought Dynamic Energy in May 2011, according to a news release. By January 2012, the company identified Memphis as its headquarters on its website.
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