EFTI Earthfirst Technologies Inc (CE)

EarthFirst Technologies, Inc. ("EarthFirst" or "the Company") (OTCBB:EFTI) today set forth detailed plans to maximize shareholder value and commercialize its biodiesel and carbon technologies. The utilization of these products will result in substantial carbon dioxide and green house gas emissions reductions. This will be the start of EFTI�s �Green-Now� initiative. First, to focus on its core technologies, the Company has entered into a Definitive Agreement to sell certain assets of Electric Machinery Enterprises, Inc. (�EME�) associated with commercial and industrial operations. The Company will retain all other EME assets, including residential electrical operations and assets, as well as the rights to patented modular housing technology. Second, the Company announced plans to merge its biodiesel operations, SolarDiesel, into Nano Chemical Systems Holdings (OTCBB:NCSH). The transaction has a value in excess of $100,000,000. CEO John Stanton announced the rationale for this move. �Our Investment Banking advice was to find a high-tech company with synergistic products and conduct biodiesel operations through a single, focused entity. We have already sold more that 1 million gallons of palm biodiesel. The Company�s business plan has been well received by the investment banking community.� Dr. Matthew Zuckerman, CEO and President of NCSH, commented: �This is a green letter day for NCSH shareholders. SolarDiesel has a unique biodiesel manufacturing capability and NCSH has the nano-technology to improve all biodiesel products usability and shelf-life. With an uninterrupted supply and control from feedstock to final product, NCSH can now accomplish its mission of fully advancing nano-technology into the mainstream production and expansive distribution of bio-friendly diesel fuel, oils and lubricants.� �NCSH�s patents and products that can maximize the profitability of biodiesel manufacturing operations and the shelf life of biodiesel products play right into SolarDiesel�s goal of producing the highest quality and most consistent biodiesel that will be available. NCSH President, Dr. Matthew Zuckerman, is a true innovator in the use of nanoparticles to improve products we use every day,� commented Stanton. Post-merger, the combined NCSH/SolarDiesel companies will complete plans to construct a 45 million gallon per year biodiesel plant and implement other aspects of the biodiesel business plan. Biodiesel usage has been universally recognized as the fastest method to reduce CO2 and carcinogenic particulate emissions. Third, the plans to merge with Cast-Crete are still underway. Cast-Crete products are used in approximately 50% of the homes built in Florida. Cast-Crete also has limited, but growing, operations in other Sun Belt states. Stanton continued, �Many of our shareholders know that I have been President of Cast-Crete since 1987, and that my initial interest in EFTI was as a result of the potential for carbon-based building products developed from the byproducts of our technologies. Recycling of carbon into building products will save energy and help clean the air we breathe.� Fourth, EFTI�s WESCO subsidiary is finalizing plans to update its Mobile, Alabama, CAVD reactor in accordance with a high-tech proprietary new design. This renovation will be guided by Orion Engineering, a leader in cutting edge refining and other chemical process technologies. We can produce a commodity grade recycled carbon black that will compete in price and quality with similar virgin carbon black products. Producing recycled carbon black from tires prevents them from being land-filled or burned and the Company hopes will result in the award of carbon trading credits. �The key to the successful use of our carbon in any application (including building products) is the consistent production of commercially accepted grades of carbon. This is what our reactor accomplishes. Ultimately, we believe this endeavor could gain the size and financial momentum to justify a stand alone company that will benefit shareholders in a fashion similar to the SolarDiesel/NCSH relationship. New patent applications have been and will be filed with respect to both products and processes. You will hear more about our progress here in the near future. Since our last communication, the Company has made significant technical progress,� remarked Stanton. On March 17, the Company will launch a �Green-Now� Web Section. This will not only detail the status of the Company�s plans but will contain an �E-meter� counting down greenhouse gas emissions reductions that can be obtained using EFTI and its affiliates products. Stanton concluded, �EFTI�s �Green-Now� plan will allow our technologies to be at the forefront of greenhouse gas emissions reduction and our new customers� bragging rights about being Kyoto Treaty contributors. We have suffered start-up and growing pains like so many others in these newborn industries and will now sharpen our focus and select our key alliances.� Please join us on today�s 4:15 pm EST conference call. Instructions are as follows: To hear the conference call as it takes place: Call 800-391-2548 in the United States or: Call 866-627-1646 in Canada, or; Call 302-709-8328 Internationally Verbal Pass code: VT88443 To hear a recording of the call (available for 30 days following the conference call): Call 402-220-2946 Pin Code: 88443 About EarthFirst Technologies, Incorporated EarthFirst Technologies, http://www.earthfirsttech.com, is a specialized holding company engaged in researching, developing and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes, and in supplying electrical contracting services to commercial and government customers internationally. Through its subsidiary World Environmental Solutions Company (WESCO), EarthFirst markets solid waste remediation plants utilizing a proprietary Catalytic Activated Distillation (CAVD) process, which is a superior technology developed by EarthFirst to recycle rubber tires and other waste by heating the material without burning it. Through its subsidiary Electric Machinery Enterprises, Inc., http://www.e-m-e.com, the Company provides electrical contracting services both as a prime contractor and as a subcontractor, electrical support for industrial and commercial buildings, power generation stations, and water and sewage plants in the US and abroad. Through its subsidiary EarthFirst Americas, Inc., the Company is engaged in the global development, marketing and distribution of biofuels. Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of EFTI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future EFTI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and EFTI has no specific intention to update these statements.