EBOF -- Earth Biofuels Completes Deal with Vertex Energy Earth Biofuels
to own 51 Percent Interest in Houston Biodiesel Facility
DALLAS, Nov 06, 2006 (BUSINESS WIRE) -- Earth Biofuels, Inc. (OTCBB: EBOF) today
announced that it has acquired a 51 percent interest in Vertex Processing, LP
from Vertex Energy, LP. Vertex Processing owns a facility strategically located
near the Houston Ship Channel which was previously utilized for chemical
processing and has since been converted for production of biodiesel fuel. The
fuel produced by this facility will be sold under Earth Biofuels' Willie Nelson
brand name, BioWillie, to local markets and other areas.
"Vertex Energy will be an excellent partner as we bring the BioWillie brand to Houston and the surrounding areas," said Dennis McLaughlin, chairman and chief executive officer of Earth Biofuels, Inc. "This city is known for being a leader in providing energy solutions; therefore, we feel that this is the ideal location for one of our major biodiesel production facilities as we strive to help reduce our nation's dependence on foreign oil through the production and distribution of biofuels."
The Houston facility represents Earth Biofuels' first joint-venture biodiesel producing plant, which has a current capacity of 10 million gallons per year (MMgy). Under the direction of Dr. Miguel Dabdoub, the joint venture expects to expand the facility to 20 MMgy over the next several months. An expert in biodiesel process technologies in Brazil, Dr. Dabdoub has been instrumental in that nation's near independence from foreign oil and owns proprietary technologies related to the production and use of biodiesel fuel. Earth Biofuels owns the exclusive rights to utilize these technologies in North America.
About Earth Biofuels
Earth Biofuels produces and distributes biodiesel fuel through the company's network of wholesale and retail outlets. The fuel is sold under Willie Nelson's brand name, "BioWillie." The Company is focused on capitalizing on the growing demand for alternative and renewable fuels in the domestic market. The Company's website is www.earthbiofuels.com.
SOURCE: Earth Biofuels, Inc.
CONTACT: Vollmer Media Contact Mary Kate Smither, 972-488-4790 marykate@vollmerpr.com or Earth Biofuels, Inc. Investor Contact Doug Jones, 214-389-9800
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