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| Process Dynamics, Inc. was officially started in February 1994 as a member of the GENESIS Technology Incubator for the purpose of commercializing the solvent based dewaxing technology developed by Dr. Michael Ackerson and others at the University of Arkansas. In 1996, Dr. Steven Byars joined the company, followed by Dr. Glen Akridge in 1999. Commercializing the technology was a long process that finally paid off in 2000 when the first license was sold to build a unit as a part of the Wasatch Wax Project near Salt Lake City, UT. Unfortunately, the project was not completed due to external business issues. At the same time, Process Dynamics was discovering what would prove to be a breakthrough in hydroprocessing. While in discussions with paraffin manufacturer Edeleanu in Frankfurt, Germany, it was discovered that Edeleanu could not afford to build a commercial hydrotreater. Process Dynamics then shifted their focus to develop a way to create a better, cheaper hydrotreater. As a result of their efforts, the IsoThermingSM process was developed. In January 2001, the Environmental Protection Agency (EPA) announced that by mid 2006, diesel fuel for on-the-road use must be reduced from a sulfur content of 500 parts per million (ppm) to 15 ppm. Process Dynamics saw the potential of their new technology and began trying to market it. Within a few months, Process Dynamics became involved with Linde BOC, formerly ProQuip, of Tulsa, OK who agreed to finance the first commercial application of IsoTherming technology. In January 2002, Process Dynamics, Linde BOC and Giant Refining signed a contract to implement the IsoThermingSM process into Giant's Ciniza, NM Refinery, and in June 2002, Process Dynamics' IsoThermingSM technology was named "Best Available Technology" by the EPA. In April 2003, the IsoThermingSM process was proven successful, and by early June, the Ciniza unit was producing ultra low sulfur diesel (ULSD). In August 2003, Process Dynamics moved from its 1,000 sq. ft. GENESIS Technology Incubator lab into an 8,000 sq. ft. lab/office facility on Deane Solomon Road in Fayetteville. The facility houses Process Dynamics' pilot plant unit, full analytical lab, and staff of 11. |