BioCentric Energy Announces Merger Agreement With Renewed World Energies
November 02 2009 - 6:00AM
Marketwired
BioCentric Energy Holdings, Inc. (PINKSHEETS: BEHL) today confirmed
a merger agreement between BioCentric Energy Holdings, Inc. and
Renewed World Energies, an established closed loop Photobioreactor
manufacturer and ALGAE production facility based in Georgetown,
South Carolina.
Dennis Fisher, CEO of BioCentric (BEHL), stated today, "After
extensive talks, and comparative data exchanges between the two
companies, it became apparent that major synergetic opportunities
would evolve if both companies were to combine efforts to advance
Photobioreactor closed loop technology and ALGAE reproductive
systems with the advanced capability of producing Power in the form
of electricity, passing directly in to the 'Grid' system."
Mr. Fisher further commented, "The basic agreement outlines the
two companies will merge all assets, and BioCentric Energy
Holdings, the publicly traded company, will be the surviving
entity, BioCentric's name will be changed to a mutually agreeable
new name, along with the filing of SEC Form 10 registration
document to become a reporting entity along with a Form 15c-211
filing to enable the company to emerge as a fully reporting
Bulletin Board company. The draft logistical plan for the
facilities is, the Huntington Beach, California facility will be
the designated Corporate Headquarters with the Research and
Development arm located in Prague, Czech Republic and the
Georgetown, South Carolina location will be the heavy engineering
equipment manufacturing and ALGAE production unit of the
consolidated companies."
Richard Armstrong, President & CEO of Renewed World
Energies, stated, "With the combined resources of RWE's heavy
engineering background and experience, along with BioCentric's
scientific and marketing expertise, we at RWE strongly believe this
can be only a win-win situation with limitless possibilities in the
fields of closed loop reproductive equipment and ALGAE strain
research and productivity, which we believe will ultimately lead to
significant revenues and profitability for both the company and
shareholders alike."
About Renewed World Energies:
RENEWED WORLD ENERGIES was formed to provide integrated,
technically sophisticated solutions to satisfy the markets for
clean burning fossil fuel alternatives, reduction or recycling CO2
emissions from combustion processes, and to address domestic energy
security concerns. RWE was established by two engineers with 55+
years of experience in designing, developing and managing the
implementation of industrial process control solutions. The company
is founded on the belief that through robust process control
renewable energy alternatives can be produced rapidly, economically
and reliably. In 2006, Tim Tompkins, a chemical engineer, and
Richard Armstrong, an electrical engineer, began to think about the
methods, processes and equipment required to produce commercially
viable quantities of alternative fuels used for vehicular
transportation. They also recognized that it must be done in a
clean, economical manner. There early efforts lead to the formation
of RENEWED WORLD ENERGIES in 2008 -- the company to produce and
sell the first commercially available automated microalgae
photo-bioreactors for the production of energy feedstocks.
RWE offers commercial large-scale bioreactor systems, which
include the panels, plumbing, process control technology, pumps,
heat exchangers and sensors. These systems can be deployed to grow
and process algae for fuel or intermediates; assembled as test
platforms for examination of mass algae culture; deployed as
incubators for developing large volume algae culture to inoculate
open pond systems; or, included as components of advanced carbon
capture pollution control solutions. RWE's advanced industrial
grade solutions are available now.
When combined with harvesting equipment, the photo-bioreactors
form the basis of the System's competitive advantage in producing
high quality feedstock able to be converted to fuel. The fuel can
be used directly or after gasification by turbines to generate
electricity whichever is most economical at the time.
BioCentric Energy today confirmed the Shareholder Conference
call scheduled for Friday, November 6th, 2009 at 9:00am PST. The
conference call dial and questionnaire information will be
available on the company's website on Wednesday, November 4th, or
by e-mail from: daniellepetty@biocentricenergy.com
Danielle Petty was recently appointed Vice President of Investor
Relations for the consolidated companies and will be providing
updated information via the company's websites and by way of public
announcements.
VOD Newswire Video Format:
http://vodnewswire.com/vodnewswire/news/biocentric-energy-20091102/
RELEVANT LINKS
www.biocentricenergy.com
www.rwenergies.com
www.thefuelfilm.com
About BioCentric Energy Holdings.?BioCentric Energy Holdings,
Inc. is dedicated to the development of new technologies as well as
acquiring and fostering companies with innovative technologies
designed to provide unique and effective green energy solutions for
the 21st century. Along with the cultivation of important
relationships and partnerships with synergistic entities,
BioCentric Energy has devoted substantial time and effort in
research and development in order to bring a range of innovative
green alternatives to the marketplace.
Safe Harbor Statement: This release includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be identified
by phrases such as BEHL or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements.
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Investor Relations: Dale Beaton 920-418-0153
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