Epec Biofuels, an InterCore Energy investment, Completes Supply Chain Partnership with Sweet Sorghum Pioneer BioDimensions Delta BioRenewables
MAHWAH, N.J., July 20, 2012 /PRNewswire/ — Epec Biofuels Holdings, Inc., an investment holding of InterCore Energy, Inc., (OTCBB: ICOR), has completed its first Supply Chain Partner (“SCP”) agreement with BioDimensions Delta BioRenewables LLC (“BDBR”) of Memphis, TN, in its program to advance Ethanol 2.0(TM) toward commercial reality.
BDBR is a U.S. leader in the production, processing, and downstream utilization of sweet sorghum and has integrated a mechanized system from field-to-factory.
“When fellow Co-Vice Chairman Jim Hyde and I first visited BDBR, it was immediately obvious that BDBR’s work and its people are on the leading edge of developing sweet sorghum as the feedstock for a new sugar platform,” commented Epec CEO Ron Miller. “Since effective ethanol production begins by fermenting sugars, BDBR’s developing capabilities to produce domestic industrial sugar feedstocks are the cornerstone of what will become the foundation for Ethanol 2.0(TM) production,” continued Miller. “By committing our resources, both capital and human, to BDBR’s effort, we minimize the risk, capital, and time required to achieve the commercially viable sweet sorghum ‘sugar platform’.”
“Epec’s investment in BDBR, which provides Epec with certain exclusive technology rights, a significant equity position, and Board participation rights, demonstrates the willingness of a leading supply chain participant to become a strategic partner within the context of Epec’s Industry Integration Platform Strategy,” commented Epec Executive Chairman Steve Vanechanos. “BDBR’s distributed production ‘sugar platform’ is unrivaled in the U.S.” Vanechanos continued, “This capability makes them an ideal partner for helping attract additional SCPs to our linchpin Industry Integration effort.”
“Epec’s investment in BDBR will move our program from the R&D stage to commercial demonstration,” said Randy Powell, Ph.D., BDBR’s Technology Manager. “Epec’s core competencies are a natural complement to our own, making it an exceptionally attractive investment partner. Both companies are now better positioned to develop new products; deploy sweet sorghum production and processing technology; and advance the interest of an emerging sweet sorghum industry,” he said.
James F. Groelinger, CEO of InterCore Energy, Inc. and an Epec director, said: “The prospect of developing Ethanol 2.0(TM), the US equivalent of Brazilian ethanol from sugar cane, is tremendously exciting. Epec has strategically positioned itself with its Supply Chain Partner program and I believe the InterCore investment in BDBR is an important step on the road to an Epec-led commercially viable domestic advanced biofuel industry.”
About Epec Biofuels Holdings, Inc.
Epec Biofuels Holdings, Inc. is the Ethanol 2.0(TM) Industry Integration Platform leader bringing to a state of commercial reality the complete supply chain for the production, distribution and utilization of Ethanol 2.0(TM) from sweet sorghum. Epec is identifying the critical supply chain participants and forging strategic Supply Chain Partnerships with those entities, which may include investments and acquisition of proprietary technology. www.epecholdings.com
About BioDimensions Delta BioRenewables, LLC
BioDimensions Delta BioRenewables LLC (“BDBR”) is a Tennessee-based corporation which evolved from a 2009 R&D joint venture of BioDimensions, Inc., Memphis Bioworks Foundation, and German Farms to assess the potential of sweet sorghum as a domestic industrial sugar crop. In 2011, BDBR began to commercialize sustainable industrial sugar feedstocks to replace petroleum in the production of renewable chemicals, advanced biofuels, and biobased materials. With support from the United Sorghum Checkoff Program and other collaborators, BDBR has successfully developed and demonstrated commercial-scale cultivation, harvesting and processing technologies for sweet sorghum at its pilot plant near Whiteville, Tennessee. BDBR’s growth plan targets strategic partnerships to supply domestic sugar feedstocks to downstream bioprocessing customers from local facilities near customer locations throughout the United States where sweet sorghum can be grown.
About InterCore Energy, Inc.
InterCore Energy, Inc. (OTCBB: ICOR) is a public company that participates in emerging clean energy companies run by exceptionally talented entrepreneurs and operating executives who are dedicated to generating superior financial returns while creating positive change in our world. ICOR functions as an owner, product developer, and investor focused primarily on providing equity, acquisition debt, or bridge financing to emerging high-growth companies and entrepreneurs in the area of clean energy technology. www.intercoreenergy.com.
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Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). InterCore Energy, Inc. cautions that statements made in this news release relating to the potential investment in and the business direction of the Company constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. InterCore Energy, Inc. undertakes no obligation to revise these statements following the date of this news release.
Melissa J. Diaz
South Street Media, Inc
Phone: (917) 937-8968
SOURCE InterCore Energy, Inc.