To answer your question: Pure Energy Corp. holds the exclusive worldwide license to manufacture and distribute the P-series fuels. The L.L. Knickerbocker Co. Inc. <KNIC.O> has a 30 percent stake in Pure Energy.
2nd PR to just hit...
WASHINGTON, May 17 (Reuters) - The U.S. Department of Energy said Monday it approved privately held New York-based Pure Energy Corp.'s new "P-series" fuel as an alternative fuel for use in federal and state government vehicle fleets.
The new fuel has the potential to replace about 1 billion gallons of gasoline a year by 2005, said U.S. Energy Secretary Bill Richardson.
"P-series fuel" is made from blends of ethanol, natural gas liquids, methyltetrahydrofuran (MTHF) and butane. The ethanol and MTHF will be derived from renewable domestic feedstocks, such as corn, waste paper, agricultural waste and construction wood waste.
"The use of P-Series will also help the United States reduce pollution from automobiles and fight greenhouse gas emissions," Richardson said.
Under the December 1997 Kyoto accord, the United States and other industrialized nations agreed in principle to reduce greenhouse gas Pure Energy Corp. holds the exclusive worldwide license to manufacture and distribute the P-series fuels. The L.L. Knickerbocker Co. Inc. <KNIC.O> has a 30 percent stake in Pure Energy.
emissions.
The Energy Policy Act of 1992 requires that alternative fuels must account for 10 percent of all motor fuels purchased by 2000 and 30 percent of all fuel sales by 2010.
The P-series fuel joins the list of alternative fuels approved by the DOE that include ethanol, methanol, natural gas, propane, electricity, 100 percent biodiesel and hydrogen. (-Tom Doggett, Washington Energy Desk, 202-898-8320)
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