Evolution Resources Announces Core Project Details
Progress Now Underway with Acquisition of Liquafaction Corporation and its Existing Ethanol Facilities and Equipment
DALLAS, Dec 01, 2009 (BUSINESS WIRE) -- Evolution Resources, Inc. (OTCBB: EVLN) (the "Company"), an advanced biofuels production company focused on the production of cellulosic ethanol using the latest in modern processes and technologies, today provides investors with details on its core projects:
Evolution Resources is currently focusing its efforts of certain proposed projects that if successfully implemented and completed, will leverage existing assets and infrastructure to significantly shorten the time frame required to establish commercial scale cellulosic ethanol and biodiesel production facilities and "repurpose" certain industrial operations to provide the key biomass components.
The projects that the Company is pursuing include the following:
1) Development of a 350,000 to 4 million gallon per year (mmgy) cellulosic ethanol production facility located in an area with a large availability of straw biomass in the Moses Lake, Washington area. The project is attractive as the initial cellulosic facility due to the fact that the site for a proposed facility has existing ethanol components and equipment, initial design work for the project has already been completed, and certain permits for ethanol production formerly existed at the site. These elements, combined with the goal of engineering and constructing a relatively small commercial scale production facility, provide the potential to complete the project and bring it online in as little as seven months from initial construction.
2) Development of a 60 mmgy cellulosic ethanol production facility to be located adjacent to an existing wood pulping facility. The project will leverage the existing pulping assets for the handling of large quantities of wood biomass and the capability to produce pulp cellulose, and will utilize a proprietary technology to convert the cellulose to fermentable sugars. The Company is currently analyzing opportunities and is in discussions for the "repurposing" of certain pulp mills for the production of cellulosic ethanol.
Although the Company is in negotiations with the owners of various pulp mills relating to this project, it has not yet executed any definitive agreements to acquire, or secure access to, the land and facilities involved that would be necessary to develop this project.
Evolution has completed the acquisition of Liquafaction Corporation that will allow the Company to pursue the 350,000 to 4 million gallon per year cellulosic ethanol project described above, which is located in Moses Lake, WA, an area that contains a high concentration of wheat straw. This project will be relatively small in scope and will make use of existing assets at the location that were at one time used for producing ethanol from corn and barley feedstocks. Accordingly, Evolution envisions this project as an ideal pilot project for future commercial scale cellulosic ethanol projects in that the time to engineer and construct the site will be relatively short so that the cellulosic technologies may be vetted on the order of months, rather than years.
Evolution has applied for a $1 million loan from the state of Washington through its Energy Efficiency and Renewable Energy Loan and Grant Program. Evolution has subsequently learned that that it has been selected as a recipient of the loan, and is now in the process of finalizing the loan contract with the Washington State Economic Development office.
Evolution Resources is aggressively pursing projects that meet the criteria of the 60 mmgy cellulosic ethanol production facility, which is described in the second topic above. The current areas of focus for this project are in the Southeast, particularly the Mid-South Mississippi Delta region, which is rich in biomass, with a significant opportunity for economic development and growth built around a new biomass production and processing industry, as well as the Pacific Northwest, similarly rich in biomass with opportunities for economic development and growth.
The comprehensive transportation and logistics infrastructure of the Delta Region is a significant strength for development of a robust bioprocessing project. The rivers, ports, roads and rail systems are sufficient to support a sizable facility. In addition, the refined product pipelines give the area a strategic advantage for the potential blending and export of liquid biofuels.
Abundant resources within the Mid-South Mississippi Delta make cellulosic biomass processing a key technology for the region. In fact, if the region increased production of dedicated energy crops on 10% of current cropland, it would equate to over 59.0 million tons of cellulosic biomass per year and make the region a net exporter of liquid transportation fuel. Due to these rich biomass resources, the Mid-South Delta's local and state governments are actively positioning themselves to attract bioprocessing technology investments in the region.
"The flexibility of plant biomass, combined with significant advances in modern cellulosic technology, is driving us toward the use of ethanol as a cost effective additive and possible replacement to petroleum based energy solutions," said Dennis McLaughlin, CEO of Evolution Resources. "Our focus on the Northwest and Southeast for our project locations is based on their significant biomass availability, local governmental and industrial support, as well as strong economic synergies we can realize with the regions. As further details of our projects unfold, we look forward to informing our loyal shareholder base."
For additional details on the biomass capabilities of the Mid-South Mississippi Delta region, please refer to the report: "Regional Strategy for Biobased Products in the Mississippi Delta" available using the following link: agbioworks.org.
About Evolution Resources, Inc.
Evolution Resources, Inc. (OTCBB: EVLN) is a renewable energy company focused on the production of cellulosic ethanol transportation fuels. Presently, the company is pursuing certain proposed projects that will leverage existing distressed assets and infrastructure in the Southeast and Northwest. The management team shares key members with Evolution Fuels (Pink Sheets: EVFN), which recently announced a dividend of two million shares of EVLN stock to its current shareholders as of the record date of January 8, 2010. For additional information on Evolution Resources, please visit its corporate website: www.evoresources.com. |
