Zenergy International, Inc. Announces the Successful Completion of Greenlight Biofuels Ltd. Acquisition
December 04 2009 - 7:06PM
Marketwired
Zenergy International, Inc. (PINKSHEETS: ZENG) is pleased to
announce that the company has successfully closed on the
acquisition of Greenlight Biofuels Ltd. and its assets for total
consideration of about $1.5 million. This acquisition considerably
expands the revenue generating capability of Zenergy International
by way of providing the resources to create the biodiesel planned
as well as the existing client base purchasing the fuel. This is
the first of numerous planned acquisitions expected that will
significantly increase the spectrum of industry verticals and the
evolving market it will serve.
Zenergy in its acquisition of Greenlight Biofuels Ltd. has taken
ownership of the property situated on 40 acres of productive land,
facilitating the biofuel plant currently in production in
Littlefield, Texas. With the completion of the acquisition of
Greenlight Biofuels, Ltd. the company has invested in an operation
capable of producing five million gallons per year, along with a
vast amount of land, providing considerable room for expansion.
Greenlight Biofuels Ltd. is strategically located on the
transport corridor, close to a number of transport fueling depots,
providing a favorable environment for significant local revenues.
Zenergy International has developed a robust, proprietary, and
proven technology capable of processing a variety of feedstock. In
alignment with the corporate strategy, having technology that can
use flexible feedstock is particularly advantageous, as upon market
pricing fluctuation the feedstock sources can be changed in
accordance with where the best value lies.
"Zenergy International's biodiesel facility acquisition strategy
is now fully underway. The acquisition of Greenlight Biofuels,
along with the other acquisitions anticipated, will serve to
considerably broaden our total addressable market from a global
industry perspective," stated Robert Luiten, Founder & Chairman
of Zenergy International. He continues, "When you consider our
significant recent developments including the securing of
sufficient feedstock to continue operations and facilitate
extensive production for over the next several years and the
acquisitions to follow, our growth platform for 2010 and beyond is
well established."
As recently announced, the Company's management has refined the
initial capital structure, enabling Zenergy to maximize the growth
potential of its shareholder value. It is, and will continue to be,
of paramount importance to Zenergy International that as the
Company evolves through new business development and acquisitions,
Zenergy International's shareholders are given an opportunity to
grow with the Company through an established favorable environment
for profitability.
About Zenergy International, Inc.
Zenergy International, Inc. is a global biofuel solutions
provider which works to deliver biofuels at a competitive price,
focusing on sustainable resources, safe practices, and compliance
with all environmental laws. The Company strives to minimize
overall environmental impact. Zenergy is engaged in the development
and acquisition of biofuel sites, including constructing, acquiring
existing facilities and operating fuel-grade biodiesel and ethanol
plants. Please visit our website at www.ZenergyIntl.com for more
information.
Safe Harbor Act: This release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E the Securities Exchange Act of
1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. "Forward-looking statements"
describe future expectations, plans, results, or strategies and are
generally preceded by words such as "may," "future," "plan" or
"planned," "will" or "should," "expected," "anticipates," "draft,"
"eventually" or "projected." You are cautioned that such statements
are subject to a multitude of risks and uncertainties that could
cause future circumstances, events, or results to differ materially
from those projected in the forward-looking statements, including
the risks that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors.
For more information visit our website at www.ZenergyIntl.com
Contact: Investor Relations Gibraltan Financial (407) 830-9777
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