Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : EVFL - Evolution Fuels, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: xcentral1 who wrote (81)	1/3/2007 10:27:41 AM
From: Rascal	Read Replies (2) \| Respond to of 175

Press Release Source: Earth Biofuels, Inc. Earth Biofuels to Acquire Controlling Interest in Ethanol Production Facility Wednesday January 3, 9:48 am ET DALLAS--(BUSINESS WIRE)--Earth Biofuels, Inc. (OTCBB:EBOF - News) today announced that its wholly owned subsidiary Earth Ethanol, Inc. has entered into an agreement with Liquafaction Corporation to construct and operate an ethanol production facility located near Moses Lake, Washington. Earth Ethanol will beneficially own 80% of the facility, which is projected to produce approximately 36 million gallons of ethanol per year by the end of 2007. The project is a renovation and expansion of an existing ethanol plant built in 1992 with an original capacity of approximately six million gallons per year. The facility will be upgraded with state-of-the-art processes and controls and will be able to process both corn and barley as feedstock for the ethanol production. Moses Lake is located in Grant County, the largest corn-producing county in the state of Washington, and is adjacent to the largest barley producing counties in the state. The ability to operate on two grains will help to reduce the exposure to rapidly changing corn or barley prices. "The estimated production capacity of this facility is in line with our objective of having an annualized ethanol production rate of at least 30 million net gallons by the end of 2007," said Earth Biofuels' Executive Vice President, Kit Chambers. "With the strong ethanol market on the west coast and specifically in Seattle, we believe this is a great opportunity for Earth Ethanol." Production at the facility is expected to increase incrementally - from an initial 12 million gallons per year in June of 2007 to 36 million gallons per year by November 2007. In addition to Earth Biofuels' controlling interest, it will manage operations at the Moses Lake facility. 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®." Earth Biofuels also produces and markets liquefied natural gas (LNG). The Company is focused on meeting the growing demand for alternative and renewable fuels in the domestic market. The Company's Web site is www.earthbiofuels.com. Forward-Looking Statements Disclosure This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions. Contact: Earth Biofuels, Inc. Shawne Horn, 214-389-9800 Corporate Communications press@earthbiofuels.net or Doug Jones, 214-389-9800 Investor Relations investors@earthbiofuels.net -------------------------------------------------------------------------------- Source: Earth Biofuels, Inc. Rascal@EasyBeingGreen.com