Pure Energy Corporation Ships Second Consignment of Biodiesel Fuel to India
PARAMUS, NJ -- 10th Sep. 2004 -- Pure Energy Corporation (PEC) announced today that it has shipped its second commercial-scale consignment of biodiesel fuel to India’s major oil companies for use in government-backed demonstration projects currently underway in the world’s second most populous nation.
Biodiesel, a fuel that can be produced from renewable organic oil sources, such as soybean or canola oils, has built-in oxygen, which, when blended with regular diesel, burns down the fuel more completely. The result is significant reductions in the amount of harmful pollution emissions coming out of the tailpipes of diesel-powered vehicles. The fuel is also hailed as a non-toxic and fully biodegradable substitute for its petroleum-based counterpart. In addition to environmental and health benefits, locally-produced biodiesel incorporates domestic renewable content into fossil fuels, thereby reducing dependency on foreign petroleum imports, and advancing the national security of oil dependant regions of the world.
This latest consignment of biodiesel has been shipped to Hindustan Petroleum Corporation Ltd. (HPCL), India’s second-largest oil company. The shipment is believed to support a pilot project taking place with Brihan Mumbai Electric Supply & Transport Undertaking, one of the largest bus fleets in the world, popularly known as “BEST” in Mumbai. The project is primarily focused on reducing air pollution levels in the city of Mumbai, and is the first biofuels test program of its kind in urban transport in India. The previous batch of biodiesel, which was provided by Pure Energy to India earlier this year, was shipped to the nation’s largest petroleum company, Indian Oil Corporation Ltd. (IOCL), for use in government-sponsored field trials with the Indian Railways and Haryana Roadways.
“In light of escalating petroleum prices and stricter regulatory pollution standards taking effect, we are experiencing unprecedented interest worldwide in our cleaner-burning, renewable-based, alternative fuels,” said Irshad Ahmed, Pure Energy’s President and CEO, and former President of the National Biodiesel Foundation. Pure Energy Corporation is committed to fulfilling additional biodiesel orders to support the Indian government’s renewable energy initiatives, until such time that domestic production capacity, which will produce biodiesel from locally-produced jatropha seeds, can be brought online in India. Stephen J. Morris, PEC’s Chairman, stated, "In addition to being the largest U.S. supplier of biodiesel to India, Pure Energy is actively working to establish local biodiesel production on the ground in that country.”
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 e-diesel blends are at the core of several of the company’s breakthrough alternative fuels, which have been demonstrated in over one million miles with industry partners in the U.S. and abroad. 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. The company is also a leading supplier of a high-quality biodiesel that exceeds all of the quality specifications set forth by industry standards for the fuel. PEC’s PureSpectra™ brand of fuel performance additives is currently being marketed to international refineries worldwide. Pure Energy Corporation represents a total biofuels solution for a cleaner environment and reduced dependence on foreign oil.
Statements made in this press release that state Pure Energy Corporation’s or the management’s intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking statements include but are not limited to statements regarding product sales, future product development and related test programs, and statements regarding future research and development. PEC’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; 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.
Robert W. Vessie
Pure Energy Corporation