• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Renew Energy Resources' Legacy Oil New York Chooses Pacific Biodiesel Technologies As Technology Partner

Posted on: Thursday, 16 October 2008, 09:00 CDT

Renew Energy Resources, Inc. (Pink Sheets:REER) ("RENEW" or the "Company"), today announced that its subsidiary Legacy Oil New York (Legacy) has chosen Pacific Biodiesel Technologies (Pacific) as its technology partner for the company's project in New York City. After considerable due diligence by both Renew and its partner in Legacy, The Doe Fund, Pacific emerged as the leading technology for a vertically integrated waste vegetable oil (WVO) facility. Pacific currently has designed and started 12 WVO facilities and we anticipate using Pacific's newest technology.

Preliminary designs for the Legacy project can be viewed at http://www.renewenergy.com/companies.html.

Alex H. Edwards III, Renew Energy Resources CEO stated, "We went through an extensive process with both our team and the team at The Doe Fund and we are extremely pleased with the opportunity to work with an organization like Pacific. After spending time with their team in New York, we are as convinced as ever that this is a great fit for Legacy, Renew, and The Doe Fund."

More information about Pacific can be found at www.biodiesel.com.

About Renew Energy Resources, Inc.

Renewable Energy Resources, Inc ("RENEW" or "the Company") is an alternative energy development company focused on converting non-food based feed stocks into renewable energy. Non food based feed stocks include waste vegetable oil, corn oil, brown grease, animal fats, recycled plastics, and discarded tires. Renew is focusing on plants that are both origination and destination based. "Origination" plants are built near the feed stock source whereas "destination" plants are built near the point of use. Having a plant that functions as both an origination and destination plant simplifies logistics and creates a competitive market advantage in pricing and improved operating margins. RENEW vertically integrates renewable energy markets such as biodiesel, ethanol, solar and wind. Vertical integration will include facility ownership as well as facility management, off take contracts for the primary product produced, value added refinement of derivative products, distribution, sales, marketing and financing of export sales contracts. Management functions will include, marketing the fuels and other bi-products, maintaining a trained operational staff, OSHA compliance, quality control and all accounting functions. In return for the above functions Renew Energy, retains an equity ownership position in each project.

For more information about Renew Energy Resources visit www.renewenergy.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate,""believe,""estimate,""may,""intend,""expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.

Source: Business Wire

More News in this Category