Originally New York Inc Announces Name Change To United Ethanol Group, Inc John H. Rivera Appointed Chairman of The Board
CHICAGO, Feb 02, 2007 (BUSINESS WIRE) -- "Originally New York, Inc," the parent company of Diversified Ethanol, (OTCBB: ONYI) has announced that it is changing its name to "United Ethanol Group, Inc." The new name will more accurately represent its business, and considerately accommodate other companies wishing to be part of a consolidation movement in the ethanol industry, sharing technology and resources. Furthermore, the company announced it has named John H. Rivera Chairman of the Board of Directors effective immediately. Mr. Rivera is currently CEO and Chairman of the Board of Directors of U.S. Sustainable Energy Corp., (Other OTC:USSE).
Company CEO Taylor Moffitt commented, "We are very pleased with the progress we have made towards the previously announced integration of our company with U.S. Sustainable Energy Corp. ( USSE ) . Their blockbuster technology enables us to substantially reduce the costs of producing ethanol. We will make it available freely to all privileged members of the United Ethanol Group, a consolidation movement in the ethanol industry. The USSE boutique of unique green biofuels is dedicated to the elimination of the U.S. dependence on foreign oil. Together, we will reduce the cost of the U.S. and world energy markets. Our revolutionary fuels will reduce costs in transportation businesses spanning from trucking, railroads and shipping. We will actually become our own first customer in the transportation industry, as our feedstock and fuels will be shipped and delivered economically using our own breakthrough fuels to power the trains, trucks and barges that will service our plants."
Further updates on the culmination of our partnership with USSE will be made available to investors immediately as they are concluded.
Commenting further, Mr. Rivera stated, "Furthering our quest to dominate and become the leader of the global ethanol marketplace, we will be building plants to be supported by the excess energy generated by USSE and our subsidiary Sustainable Power Corp. (SPC). "Using Diversified Ethanol's ultrasonic low frequency technology, we will obtain up to 30% more sugars from the corn that will be processed," according to independent university research. In addition, according to industry experts, "We expect we will also save between 30-35% on our energy costs in producing ethanol and making our product the most cost competitive ASTM certified 200 proof ethanol anywhere in the world."
"In addition to our existing ethanol boutique, we now have the ability to produce ethanol using energy from cow, pig, and chicken waste as well as forestry products, giving us an insatiable supply of non-food wastes to be converted into fuel. We can turn these wastes into "green" gold - ethanol. While chemically identical to ethanol produced from other energy sources, this green ethanol production emits a lower net level of greenhouse gases, while cleaning up many problems otherwise caused these wastes. Recent technological developments are not only improving yields but also driving down production cost, bringing us closer to the day when ethanol will replace expensive, foreign "black gold" with a sustainable, domestically produced biofuel."
SOURCE: Originally New York, Inc
CONTACT: Originally New York, Inc, Eagle Grove
Chris McGovern, 515-603-6292
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