HOUSTON, TX, Mar 16, 2007 (MARKET WIRE via COMTEX) -- Blue Diamond Ventures,
Inc. (PINKSHEETS: BLDV) today announced plans to construct a bio-diesel plant in
Belize, with an eventual capacity of 50 million gallons per year (GPY). This
follows approval from the Government of Belize for Blue Diamond to purchase 180
acres of land, forming part of the Old Lynam College in the Stann Creek
District, which will serve as a headquarters for the company's bio-fuels, goat
and research and development operations.
"The Government of Belize welcomes the strong interest shown by Blue Diamond
Ventures, Inc. in investing in Belize and, in doing so, contributing to economic
growth and development of our country," said Joseph Waight, senior advisor in
the Ministry of Finance. "The production of bio-fuels will be a key factor in
our national goal of reducing our country's dependence on imported fossil fuels.
We look forward to having Blue Diamond Ventures, Inc. working in Belize, and we
wish them all success in the future."
"This represents an important milestone for the company," said Blue Diamond's
Chief Executive Officer John Quincey Moaning. "We look forward to working with
the Government of Belize as we work to bring sustainable economic development to
the country and increase shareholder value. There have been challenges along the
way, but they have been overcome. I thank those involved who have worked
patiently and determinedly to make today's agreement possible."
The breakthrough for Blue Diamond Ventures follows months of high-level talks
led by Ambassador Philip Priestley, former British High Commissioner in Belize,
who joined Blue Diamond Ventures last year, bringing with him 35 years'
experience in trade, investment and bilateral relations promotion.
Welcoming today's announcement, Mr. Priestley commented he was glad the
negotiations had been brought to a successful and mutually satisfactory
conclusion.
"I am absolutely delighted to have been able to combine my career experience and
skills and affection for Belize to help realize this agreement," acknowledged
Mr. Priestley. "Bio-fuels will play an increasingly important part in meeting
countries' energy needs in the years ahead, and this project would put Belize at
the forefront of developments in this area."
Mr. Priestley noted he would remain fully committed to and engaged with the
project and would oversee its economic development aspects.
Meanwhile, Blue Diamond has entered into serious discussions within the U.S. to
construct a 50 million gallon bio-diesel plant and research facility, with a
strong emphasis placed on creation of jobs, bio technological skill development
and the promotion of entrepreneurship and agribusiness.
Blue Diamond also plans to work closely with the United States Department of
Energy to advance the development of high-yielding biomass feedstock for
bio-fuel production and promote research into state of the art bio-fuel
processing technologies (2nd generation and higher, including enzymatic
treatment of biomass to produce cellulosic bio-diesel and ethanol).
The implementation of the bio-fuels plant in Belize will start with the
immediate set-up of a bio-diesel pilot plant at Lynam with an output capacity of
200,000 to 500,000 (GPY) and construction of a 2.5 million (GPY) Commercial
Demonstration Facility later this year.
About Blue Diamond Ventures, Inc.: Blue Diamond Ventures, Inc.
(www.bluediamondventures.com) is an agriculture, biofuels and commercial
development company with operations in Belize and the U.S. |
