Encore Energy Systems to Acquire Geo Green Fuels Gonzales Biodiesel Production Plant With 3 Million Gallon per Year Capacity
March 17 2009 - 12:53PM
Marketwired
Encore Energy Systems (PINKSHEETS: ENCS) announced today it has
executed a Letter of Intent to acquire Geo Green Fuels Gonzales,
LLC biodiesel production facility located in Texas.
The Company is completing its due-diligence and believes
transaction funding is available. Transaction Disclosure
information will be timely published pursuant to paragraphs (a) (5)
(i) to (xiv), inclusive, and paragraph (a)(5)(xvi) of Rule
240.15c2-11.
The facility is expected to generate approximately $8,500,000 in
revenue per year. The facility is capable of producing 3 million
gallons of biodiesel per year and is on 15 acres strategically
located adjacent to railways for fuel distribution. The facility
has multi-feedstock technology allowing high-throughput fuel
production and ability to meet scaling demand.
In preparation for this acquisition and subsequent acquisitions
the Company entered into an agreement with Zenergy International,
Inc. to provide biofuel plant management services and feedstock
allocation.
This acquisition and similar facilities is a significant initial
milestone in the Company's operations and represents a major
component of its 2009 growth plan. The Company intends to
aggressively acquire additional biodiesel production plants. The
Company believes the consolidation of underutilized and distressed
biodiesel assets will position the company as a premier producer
and distributor of biodiesel nationwide.
The Company will update stockholders on the following:
-- Additional acquisitions of biodiesel facilities and industry joint-
ventures.
-- Published financial reports to be timely released. Guidance on 2008
performance will be released before publication of reports.
-- 2009 asset and revenue projections and growth through the company's
planned acquisitions.
-- Distribution agreements for biodiesel and feedstocks.
-- Details on the Company's Combined Heat and Power generation programs
(CHP).
-- Partnerships and Executive Management agreements for the Company's
business development and marketing programs.
-- New web sites, corporate image, and published business plans.
About Encore Energy and BioConversions
ENCS is an international aggregator biodiesel reactor
technology, fuel distribution, production systems and fuel
production facilities.
The Company also owns the patents for the use of grey-water, and
domestic water in heat exchanger systems. They also provide all
forms of conventional geothermal heat exchange systems. See our
video at http://www.encoreenergyinc.com. The Company licenses its
patented technology to other energy-related businesses.
Safe-Harbor Statement
This press release contains statements (such as projections
regarding future performance) that are forward-looking statements
as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties. The company's web-site
version of this press release contains various RISK FACTORS (and
are incorporated herein by reference) and should be read before any
investment decision.
Investor Relations: Contact: Encore Energy Systems, Inc. Email
Contact 1.662.253.5766
Encore Energy Systems (CE) (USOTC:ENCS)
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