Vega Biofuels Leases 90,000 Square Foot Facility for South Georgia Bio-Coal Plant
(firmenpresse) - NORCROSS, GA -- (Marketwire) -- 03/26/12 -- VEGA BIOFUELS, INC. (PINKSHEETS: VGPR) announced today that it has entered into a Lease on a building in Cordele, Georgia for the Company's bio-coal manufacturing plant.
The 90,000 square foot facility is located at 2801 E 13th Avenue in Cordele, GA and is adjacent to the new Cordele Inland Port. The Inland Port provides direct rail access to the Port of Savannah, one of the country's largest international shipping ports.
The Company will work with engineering firm Hunt, Guillot & Associates on the design, construction, project management, and equipment installation for the new plant. When completed, the facility will produce green energy bio-coal from timber waste for use in existing coal-fired power plants around the world.
Bio-coal is made from a process called "torrefaction." Torrefaction is a partial carbonization process that takes place at temperatures between 475 - 575º in a low temperature environment which makes the physical and energetic properties of the biomass much more comparable to traditional coal. The biomass is then compressed into briquettes to be sold to the end user. Torrefaction has the added benefit of reducing or eliminating undesirable volatiles, such as nitrous oxides and sulfur dioxides and is considered carbon neutral to the environment.
"We are very fortunate to have found the ideal location for the plant," stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. "The funding package we recently completed will help us meet the financial terms of the Lease. We can now focus our energy on the installation of equipment for the facility. We looked at a lot of buildings in the area before making our decision. This building is bigger than we need initially, but gives us tremendous growth capabilities. We are receiving a lot of interest in the new plant from all over the world and will have the ability to significantly expand our production capabilities without having to relocate the plant. This is a very big step for our Company. Being next to the new Inland Port will save the Company thousands of dollars annually in transportation costs. We'll have some pictures of the new facility posted on our website in the next couple of days."
For more information about Vega Biofuels:
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "plan," "project," "intend," "expect," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
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Vega Biofuels, Inc.
800-481-0186
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Datum: 26.03.2012 - 06:00 Uhr
Sprache: Deutsch
News-ID 1096207
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