Pure Energy Corporation Forms Joint Venture with Green Star Products, Inc. and Bio-Clean Fuels, Inc. to
Undertake Integrated Biofuels Production
Green Star International, Inc., a Joint venture between Pure Energy Corporation, Green Star Products, Inc., and Bio-Clean Fuels, Inc., to Build Multiple Biorefineries in the United States and Internationally for the Integrated Production of Biodiesel, Cellulosic-Ethanol and Higher-Value Chemicals from Waste Renewable Resources.
PARAMUS, NEW JERSEY (PRWEB) July 6, 2006 -- Pure Energy Corporation announced today that it has entered into a Joint Venture with Green Star Products, Inc. (OTC:GSPI) (GreenStarUSA.com) and Bio-Clean Fuels, Inc. to undertake integrated ethanol and biodiesel production projects in the United States and certain select countries internationally. The JV Company, known as Green Star International, Inc., was formed pursuant to a Joint Venture Agreement executed by the parties in March of this year.
The new entity, which is fifty-percent owned by Pure Energy, and twenty-five-percent owned by each of Green Star Products and Bio-Clean Fuels, marks Pure Energy's first ever strategic partnership to integrate it's cellulosic ethanol production technology with a modular methyl ester (biodiesel) processing platform in the United States.
"This partnership reflects many years of combined experience that the management of Pure Energy Corporation, Green Star Products, and Bio-Clean Fuels have gained by developing and delivering innovative biofuels manufacturing systems," said Irshad Ahmed, Pure Energy's President and Chief Executive Officer. "If successful, Green Star International has the potential to reshape the biofuels industry by enabling the first ever Total Biofuels Biorefinery capable of producing ethanol, biodiesel, and other value-added chemicals and co-products in a single processing facility."
The concept of integrating Pure Energy's biomass-to-ethanol two-stage dilute acid hydrolysis Biorefinery processing platform with Bio-Clean Fuels and Green Star Products' continuous-flow transesterification technology for the production of biodiesel offers several key advantages; including energy savings and utilization of waste heat; product marketing and logistical synergies; sharing of laboratory and QC facilities; sharing of maintenance equipment and plant operating and management personnel; and significant improvements to the overall production economics versus stand-alone facilities.
Green Star Products' President, Joseph P. LaStella, stated, "The Green Star International joint venture represents all of the various elements required to create successful world-class biorefinery manufacturing projects both economically and practically." Green Star Products has been a strategic alliance partner of Pure Energy Corporation for a number of years, having jointly undertaken the production and supply of shipments of biodiesel to major oil companies in India from the United States. "Integration of Green Star Products' biodiesel engineering and production capabilities with Bio-Clean Fuels' technical and procurement background, and Pure Energy's patented cellulosic-ethanol technology and project implementation competence represents a well-rounded team capable of implementing multi-tiered biofuels projects efficiently and cost-effectively."
"Each of the JV partners brings extraordinarily well-matched technologies, relationships, and capabilities which complement each other very well; said LaStella "By combining our respective resources and personnel, Green Star International is well-positioned to compete in the rapidly expanding biofuels market."
The Joint Venture, as a project implementation entity, is presently developing several United States based biorefinery projects in Pennsylvania, North Carolina, Florida, Idaho, Washington, and California, as well as a number of projects outside of the United States, each with a focus on integrating ethanol and biodiesel production under one roof.
Cellulose-derived Ethanol, an alcohol fuel produced from renewable waste biomass sources, such as corn cobs, switch grass, and saw dust, provides a high-quality, high-octane gasoline substitute for exceptional engine performance and reduced environmental emissions. Cellulose-derived ethanol represents the next generation of ethanol production technology that promises a number of environmental and economic benefits compared to corn-based ethanol. Biodiesel, a methyl ester fuel that can be produced from renewable organic oil sources, such as soybean, canola oils, or other virgin or waste vegetable oils and/or animal fat, is a non-toxic and fully biodegradable substitute for its petroleum-diesel counterpart. Both biofuels offer significant reductions in the amount of net greenhouse gases and harmful tailpipe emissions from gasoline- and diesel-powered vehicles. The greater use of these biofuels will promote national security by reducing dependence on foreign oil, result in value-added income to American farmers by utilizing agricultural waste, and divert significant amount of municipal and industrial waste streams from fast-depleting landfills for useful utilization in biorefineries.
Pure Energy Corporation, a leader in engineered alternative fuel formulations, is credited for incorporating renewable fuel components, such as ethanol, into conventional fossil fuels, to create cleaner gasoline and diesel-based fuel blends for use in passenger cars and trucks. Pure Energy's patented Puranol and polymeric fuel additive systems for ethanol-diesel blends (E-Diesel) are at the core of several of the company's breakthrough alternative fuels, which have been demonstrated in over one million combined miles with the Chicago Transit Authority (TransitChicago.com), Archer Daniels Midland Company (NYSE: ADM) (ADMWorld.com) and Waste Management Inc., (NYSE: WMI) (wm.com) and other industry partners in the United States and abroad. Operated non-stop between 1999 through 2001, the E-Diesel demonstration project with ADM Trucking utilized actual operational fleet trucks at Decatur, Illinois, and was considered as one of the longest alternative fuels demonstration projects in the country.
Pure Energy's integrated biorefinery technology platform for producing ethanol and chemicals from agricultural and municipal waste biomass represents a significantly lower-cost ethanol production process as compared to conventional technologies based on corn or sugarcane. Pure Energy is also credited as the only privately held company in the United States with a successful designation of an Alternative Fuel, P-Series, under the Energy Policy Act of 1992 at the United States Department of Energy (http://www.eere.energy.gov/afdc/altfuel/p-series.html).
Green Star Products, Inc., a holding company with equity positions in various technology companies related to, among other things, fuels, biofuels, and fuel additives, is in the biodiesel production business, having successfully built and operated a commercial-scale biodiesel plant in Bakersfield, California for several years.
Bio-Clean Fuels, Inc. is a biodiesel technology and engineering company, possessing a modular, continuous-flow transesterification system for the production of high-quality biodiesel from three classes of feedstock, including used and recycled cooking oils, virgin tallow, and vegetable oils. The Bio-Clean Fuels technology is differentiated from conventional processing technologies through improved conversion efficiencies and a water-free manufacturing system.
Together, through Green Star International, Inc., the Joint Venture partners represent a Total Biofuels Solution for a cleaner, healthier environment and reduced dependence on foreign petroleum, while solving the burgeoning solid waste problem.
Statements made in this press release that state Pure Energy Corporation's or its partners, or the management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking include but are not limited to statements regarding future product sales, future project development efforts, and statements regarding future research and development. Such statements involve certain risks and uncertainties. Pure Energy's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: changes in public policy; general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; dependence on third-party suppliers; results of laboratory studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future.
For more information contact Pure Energy Corporation at 61 South Paramus Road, Paramus, New Jersey 07652, or visit the company's web site at: http://www.pure-energy.com.
Pure Energy Corporation
Green Star Products, Inc.